Taxes

The IRS has announced that beginning Jan. 1, 2024, businesses that are required to file Form 8300, Report of Cash Payments Over $10,000, may be required to file electronically instead of filing a paper return. Cash Reporting Requirements Under U.S. law, any individual or business who receives more than $10,000 in one transaction or a

The IRS has announced guidance on the federal tax status of refunds of state or local taxes, and certain other payments by state or local governments to individuals. Earlier this year, the IRS provided guidance on state payments made in 2022 in news release IR-2023-23, where the IRS exempted 21 state rebates from tax—including California’s

The IRS as announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Currently,

Tax Notes contributing editors Robert Goulder and Joseph J. Thorndike examine Robert F. Kennedy Jr.’s cryptocurrency tax proposal, all in five minutes. This transcript has been edited for length and clarity. Robert Goulder: There is a presidential election next year, and some of the candidates are already teasing us with tax proposals. One of the

John McGowan of HubSync discusses artificial intelligence and its role in the tax field. This transcript has been edited for length and clarity. David D. Stewart: Welcome to the podcast. I’m David Stewart, editor in chief of Tax Notes Today International. This week: Friend or foe? Artificial intelligence has been a bit of a hot

I have a weird habit of remembering what I paid for things. Yes, I am the person that can tell you the approximate date I bought an item and how much I paid for it. This is particularly the case if I got something for a bargain. It took a while to figure out that

Today was the first day of school for my son. His schedule was packed with math, foreign languages, English, science—but not economics or financial literacy. Many schools don’t offer those kinds of classes. Just about half of states require either a personal finance or economics course to graduate high school, which might explain why, as

Google, Meta, and several tax prep companies, including H&R Block and TaxAct, are fielding an escalating number of U.S. lawsuits alleging that they allowed tracking pixels to unlawfully collect taxpayers’ confidential information as they filed their federal income tax returns online. The claims, which were first reported in November 2022 by investigative news outlet The

The IRS is again pushing off a start date for new legislation by introducing a transition period. Earlier, the IRS declared a one-year delay in the new reporting requirement for Forms 1099-K. The IRS has now announced an administrative transition period for the new catch-up contribution requirements under the SECURE 2.0 Act. Background SECURE 2.0

Tongues were wagging this morning after a Zillow update reportedly indicated that former President Donald J. Trump sold Mar-a-Lago for $422 million. As of this writing, the listing on Zillow’s website shows that a 5,061-square-foot residence at 1100 S. Ocean Boulevard in Palm Beach, Florida, was sold on Friday, August 4, 2023. According to the