The IRS recently released its audit statistics for the 2022 fiscal year and fewer taxpayers had their returns examined as compared with prior years. But even though a small percentage…
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Donations to charity fell to $499 billion last year, a 3.4% decrease from 2021, according to a report released on Wednesday by Giving USA. The decline was even more stark—10.5%—when…
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If your profitable business has trouble making ends meet, it’s not alone. Many business owners mistakenly equate profits with cash flow, leading to shortfalls in the checking account. The truth…
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When one spouse in a married couple is not earning compensation, the couple may not be able to save as much as they need for a comfortable retirement. In general,…
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While the value of virtual currency continues to fluctuate, the IRS’s interest in it has only increased. In 2021, for example, the agency launched Operation Hidden Treasure to root out…
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Executive summary: Proposed and temporary regulations Section 6417 was added to the Internal Revenue Code (Code) by the Inflation Reduction Act (the IRA), allowing for the elective payment (also referred…
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