The IRS issued Notice 2020-17 (the “Notice”), which provides relief for taxpayers affected by the coronavirus pandemic. The IRS had announced that taxpayers have until July 15, 2020, to pay and file federal income taxes that were due on April 15. There will be no late-filing...
The deadline for filing your federal income tax return is April 15, but you can also file an extension with the IRS. If you miss the deadline completely, you'll get a penalty of 5% of any tax you owe. If the return is more than...
1974 marked the beginning of an almost four-decade battle with the Italian tax authorities that has finally ended. Seventy-nine-year-old Sophia Loren was declared to have been in the right by Italy's supreme court over the calculation of tax that she paid on her 1974 earnings. Her...
In these vulnerable times, most people identify first responders, doctors, and nurses as the frontliners of the coronavirus pandemic. But what about the truckers who also risk their lives to deliver everything from relief goods to the food and supplies that keep shelves stocked? While the...
Even two years after the new tax law was implemented, people are still somewhat confused by it. Especially when it comes to special industries where taxes work differently than they do in most spheres of business. As a truck driver, you probably already know that...
