Taxes Archives - Page 2 of 2

IRS Audit Uncovers $50 Million in Unpaid Taxes by Its Own Employees

August 9, 2024

An IRS audit has revealed that nearly 5,800 of its employees and contractors owe a staggering $50 million in unpaid taxes. This discovery raises significant concerns about the agency’s ability to enforce tax compliance among […]

The End of Sales Tax Holidays: What It Means for Shoppers

August 7, 2024

Sales tax holidays, those cherished days when shoppers can buy certain items without paying state sales tax, are disappearing in some states. This shift could impact back-to-school shopping and other seasonal spending sprees, leaving consumers […]

Ohio tax-free days calendar with shopping bags

Ohio Expands Tax-Free Days for 2024: What You Need to Know

July 30, 2024

Ohio residents have reason to celebrate as the state expands its sales tax holiday for 2024. Governor Mike DeWine announced that the tax-free period will now last ten days, offering significant savings on a wider […]

Parents buying school supplies during Florida's tax-free holiday

Florida’s 2024 Back-to-School Sales Tax Holiday: What You Need to Know

July 29, 2024

Floridians are gearing up for the annual back-to-school sales tax holiday, a two-week event where many school-related items are exempt from the state’s usual 6% sales tax. This year’s holiday runs from July 29 to […]

Worried person holding IRS document, financial charts in background

IRS Clarifies Inherited IRA Rules: Annual RMDs Now Mandatory for Many

July 24, 2024

The IRS has issued final rules clarifying the 10-year rule for inherited individual retirement accounts (IRAs), requiring many beneficiaries to take annual required minimum distributions (RMDs). This new guidance, effective in 2025, resolves confusion stemming […]

Harris campaign donations tax deductible query

Harris Campaign Donations Skyrocket: Are They Tax Deductible?

July 23, 2024

Vice President Kamala Harris’s campaign saw an unprecedented surge in donations following President Biden’s endorsement. Within 24 hours, the campaign raised $81 million, setting a new record for the online fundraising platform ActBlue. This influx […]

Taxes

IRS Audit Uncovers $50 Million in Unpaid Taxes by Its Own Employees

The End of Sales Tax Holidays: What It Means for Shoppers

Ohio Expands Tax-Free Days for 2024: What You Need to Know

Florida’s 2024 Back-to-School Sales Tax Holiday: What You Need to Know

IRS Clarifies Inherited IRA Rules: Annual RMDs Now Mandatory for Many

Harris Campaign Donations Skyrocket: Are They Tax Deductible?

Project 2025: A Radical Tax Overhaul Blueprint

‘Loophole’ may get you a $7,500 tax credit for leasing an EV, auto analysts say

TaxAct Class Action Settlement: What You Need to Know