The Internal Revenue Service issued guidance providing additional details about investment in qualified opportunity zones. The proposed regulations allow the deferral of all or part of a gain that is invested into a Qualified Opportunity Fund (QO Fund) that would otherwise be includible in income.
Knowing what to file and when to file it can make all the difference to the IRS. Talk to VEB CPA.
Anyone else can request an automatic extension Anyone can request an automatic tax-filing extension, but some people get extra time without asking, according to the Internal Revenue Service.
The IRS set the maximum values that limit use of the cents-per-mile and fleet-average valuation rules for employer-provided vehicles first made available to employees for personal use in calendar year 2018.
IRS issues guidance for determining nondeductible amount of parking fringe expenses and unrelated business taxable income; provides penalty relief to tax-exempt organizations
For private corporations and their employees, IRS provides initial guidance on new tax benefit for stock options and restricted stock units
Wrongfully-incarcerated individuals, wishing to take advantage of the special retroactive tax exclusion, usually must file refund claims by Monday, Dec. 17, 2018, according to the Internal Revenue Service.
Low-income housing units nationwide may be offered to displaced victims of Hurricanes Michael and Florence, other recent disasters The Internal Revenue Service has provided temporary relief from certain requirements of the Internal Revenue Code to allow owners and operators of low-income housing projects located anywhere in the United States and its territories to provide temporary …
If you use one of the many online platforms available to rent a spare bedroom, provide car rides, or to connect and provide a number of other goods or services, you’re involved in what is sometimes called the sharing economy.
When you hire someone to work in your home, you may become an employer. Thus, you may have specific tax obligations, such as withholding and paying Social Security and Medicare (FICA) taxes and possibly federal and state unemployment insurance.
Each year, millions of taxpayers claim an income tax refund. To be sure, receiving a payment from the IRS for a few thousand dollars can be a pleasant influx of cash. But it means you were essentially giving the government an interest-free loan for close to a year, which isn’t the best use of your …