Oral arguments begin on Tuesday in a high-stakes case that could redefine what is taxable income.
Category: Income Tax
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How to Take Advance of Your Health Savings Account
Insurance plans with high deductibles may seem unappealing, but the savings accounts that often come with them offer significant tax benefits.
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I.R.S. Contractor Charged With Leaking Tax Returns
The federal charges are said to involve disclosure of tax information from Donald Trump and other wealthy taxpayers.
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I.R.S. Changes Audit Practice That Discriminated Against Black Taxpayers
The agency will overhaul how it scrutinizes returns that claim the earned-income tax credit, which is aimed at alleviating poverty.
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You Can Still File Your 2019 Taxes if You’re Due a Refund
The forms were originally due in the early days of the pandemic. The I.R.S. estimates that 1.5 million people are owed money, but they must file by July 17.
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What to Do With Your Tax Refund, According to Experts
The average refund is down from last year, but still almost $3,000. One option experts recommend is stashing part of it for unexpected expenses.
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What You Need to Know for the 2023 Tax Season
The New York Times – Business:Doing taxes in 2023 feels a lot like it did before the pandemic. Still, there are some meaningful changes to keep in mind.
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You Can Use Your Tax Refund to Buy I Bonds, but Should You?
The New York Times – Business:The answer depends on whether you’re looking to get high interest rates now or a safe investment with inflation protection over many years.
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I.R.S. Decides Most Special State Payments Are Not Taxable
The New York Times – Business:The agency offered the guidance that it had asked millions of taxpayers in 21 states to wait for before filing their returns.
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I.R.S. Tells Millions Who Received State Rebates: Don’t File Just Yet
The New York Times – Business:Tax season is underway. But the Internal Revenue Service is still figuring out whether the millions of taxpayers who received rebates last year should count them as taxable income.
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Black Americans Are Much More Likely to Face Tax Audits, Study Finds
The New York Times – Business:A new report documents systemic discrimination in how the I.R.S. selects taxpayers to be audited, with implications for a debate on the agency’s funding.