Taxes

With Tax Day in the rearview mirror for some (not including those of us on extension), fingers are crossed that IRS processing times may be getting back to normal. According to the IRS, all paper and electronic individual returns received before January 2023 have been processed. Additionally, the agency claims it is opening mail within

The new Chairman of the House Ways and Means Committee Jason Smith (R-MO) recently held a hearing on charitable hospitals. The hearing continued a long bipartisan/bicameral interest of Congress in considering the substantial tax and spending benefits charitable hospitals receive from federal/state/local government — which unfortunately far outweigh the amount of charity care that these

Does it matter for your taxes if you spend $500 on your hobby, or if you spend the same amount promoting your side hustle where you earn extra money? It sure does. If your activity is a hobby, your expenses are not tax deductible. But if you are running a business (even a very small

Former Real Housewives of Atlanta star Kim Zolciak-Biermann has denied reports of financial difficulties for some time—but it appears that the bills are finally catching up to her. The IRS has filed federal liens against Zolciak-Biermann and her husband, former NFL outside linebacker Kroy Biermann, in excess of $1.1 million. Real Estate Last fall, the

The U.S. Department of Justice has filed a complaint seeking to bar nine Florida tax return preparers and their associated business from assisting in preparing federal income tax returns for others. Background According to the complaint, Richard Louis—sometimes known as the “Taxman,” Teddy Davis, James Merrill, Daniel Ouku, Demetrius Knowles, Harold Bornelus, Joseph Garrett, Marlyne