The Internal Revenue Service said Friday it’s updating the process for the frequently asked questions pages it posts on its website about new tax legislation. The IRS is updating the process to address concerns about transparency and the potential impact on taxpayers when the FAQ pages on its website are
The Internal Revenue Service is starting to provide tax refunds to taxpayers who paid taxes on their 2020 unemployment benefits that recent legislation later excluded from taxable income. In March, after passage of the American Rescue Plan Act, the IRS said it would recalculate the taxes and refund the money
Businesses and individuals need to be aware that a large number of IRS tax law changes are going into effect this year. Many of them were created by the Protecting Americans from Tax Hikes (Path) Act of 2015, although there was legislation passed in 2015 and 2014 that also contributed a
By Scott Aber The United States Congress passed the American Taxpayer Relief Act of 2012 on New Year’s Day 2013 and it was signed into law and enacted by President Barack Obama on January 2nd of this year. Initially introduced as provisions and changes to expiring “Bush Tax Cuts” which
