Taxes

The tax treatment of legal settlements and judgments depends on the claims, whether the case settles or goes to judgment, how checks and IRS Forms 1099 are issued and more. The same tax rules apply to settlements and judgments, but you have more flexibility to reduce taxes when a case settles. If you sue for

As part of the Inflation Reduction Act (“IRA”) passed in August of 2022, $391 billion of governmental funding was allocated to energy and climate initiatives. The ability to transfer (i.e. sell) clean energy credits was part of the new legislation and covered under IRC Section 6418. The intent of IRC Section 6418, was to increase

Every Friday night, my family celebrates cheese night. Okay, celebrate might be a strong word. But for the last few years, we’ve designated Fridays as cheese nights. At the end of a long week, it’s nice to put out a spread of fruits and vegetables, olives and pickles, bread, and, of course, cheese. While any

“What a difference a year makes!” That’s how National Taxpayer Advocate (NTA) Erin M. Collins kicked off the preface to her midyear report to Congress. That difference, Collins reported, was positive. She noted, “In submitting this report, I’m finally able to deliver some good news: The taxpayer experience vastly improved during the 2023 filing season.”

The United States does not have a carbon border tax. But legislation recently introduced by a bipartisan group of senators could very well put the country on track to implement one. If the United States were to implement a carbon border tax, it would need to know which kinds of industrial goods release the highest