News & Perspective

States want money for tax cuts. The Republican attorney general of 21 states recently called one aspect of the new coronavirus recovery bill "an unprecedented and unconstitutional intrusion on the separate sovereignty of the States through federal... Read More

Should married couples file jointly. A choice is given to married couples at tax time, to file jointly or separately. Most married people automatically file joint returns because they can get a lower tax rate, but some situations exist where filin... Read More

Taxpayer advocates report about 2020. National Taxpayer Advocate Erin Collins released her annual report to Congress, highlighting the year 2020. It focused on the unprecedented challenges taxpayers faced in filing their tax returns and receiving ... Read More

How millionaires tax helps middle class. Coronavirus infection levels are climbing all around the country again. As more and more Americans stay home to avoid infection, those rising infection rates will likely bring with them another serious econ... Read More

TIGTA critiques protection of data. The IRS continues to have challenges protecting taxpayer data, and especially ensuring that its various applications provide complete and accurate audit trails, according to the Treasury Inspector General for Ta... Read More

Solopreneur tax tips part two. This is the second part of a two part series on being a sole business owner and the different hats you must wear, including the tax preparer hat. One of the ways you can make life easier as a solopreneur is to simpli... Read More

Improving gig worker tax compliance. Gig work is certain activity you do to earn income, often through an app or website(digital platform), like Drive a car for booked rides or deliveries: rent out properties or part of it: run errands or complete... Read More

Qualified improvement property changes. Qualified improvement property, or QIP can include the following: roofs, heating and air conditioning equipment, fire protection, security equipment, installation or replacement of drywall and ceilings, inte... Read More

Qualified improvement property changes. The Coronavirus Aid, Relief, and Economic Security (CARES) Act provided a technical correction to the Tax Cuts and Jobs Act regarding the depreciation schedule for qualified improvements property to nonresid... Read More

Distributions from cares plans. The IRS explained how qualified individuals can take coronavirus related loans and distributions from eligible retirement plans (Notice 2020-50). Qualified individuals receive favorable tax treatment for those distr... Read More