Tax credits and tax deductions can help income taxpayers, primarily those in middle-income and low-income households, looking to reduce their taxes or maximize their tax refunds. Both tax deductions and tax credits reduce how much you owe the IRS, but in different ways. A tax deduction...
In late 2018, just before the holidays, Domenico Dolce and Stefano Gabbana, the partners behind world-famous luxury fashion brand Dolce & Gabbana, were cleared of tax evasion charges at a fiscal level, four years after they were acquitted at a penal level from charges of...
As an owner of a heavy vehicle, you may be wondering how many times you need to file form 2290 for your new or existing truck. Here is a handy guide, including some frequently asked questions. IRS form 2290 is a Federal Excise Tax that is...
In an effort to fight off an unprecedented crisis, the U.S. Congress passed legislation that provides $2.2 trillion in aid to states, citizens, and businesses, both small and large. The IRS plays a central role in this process, administering the CARES Act (Coronavirus Aid, Relief,...
Governments around the world have been impacted by the coronavirus pandemic and are implementing emergency measures to support their economies. The U.S. federal, state, and local governments have released new legislation and tax code updates to ease the economic burden felt by citizens and businesses. On...
