The IRS has released its “Dirty Dozen” tax avoidance and fraud list for 2022, consisting of heavily promoted transactions likely to attract IRS scrutiny, consumer-focused fraud, and activities targeting high-net-worth individuals. “Dirty Dozen” activity tends to be most prevalent during the filing season. The IRS has compiled the annual list for more than 20 years
Taxes
Today’s Social Security column addresses questions about how filing early can affect benefits for a spouse, whether an ex’s state pension can reduce divorced spousal benefits and when spousal benefits can become available. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc. See more
IRS Forms 1099 allow computer matching of Social Security numbers and dollar amounts paid. That makes it possible for IRS collection efforts to be streamlined and automated. Failing to report a Form 1099 on your tax return (or at least to explain it) is likely to get you an IRS notice in the mail asking
Topline Mortgage rates have surged higher this week as markets digest more aggressive interest rate hikes from the Federal Reserve, and with the average 30-year fixed mortgage rate hitting its highest level since 2008 experts warn that warning signs in the housing market could spell trouble for the broader economy. Key Facts The average interest
Raymond Stahl of Ernst & Young discusses concerns about the final regulations for claiming foreign tax credits, particularly how they affect creditability, withholding, and treaty benefits. 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: