The Third Circuit affirmed a Tax Court ruling that a doctor s royalty income from a patent that he received under a licensing agreement was ordinary income, not capital gains,... Read More >
Taxpayers who give money or goods to a charity may be able to claim a deduction on their federal tax return, which basically reduces the amount of their taxable income.... Read More >
For tax years , the Tax Cuts and Jobs Act TCJA eliminated the deduction for interest on home equity debt and limited the mortgage interest deduction to qualified residence debt... Read More >
The IRS unveiled a new version of Form W- and announced the availability of an updated Withholding Calculator to help taxpayers ensure the accuracy of their tax withholding after December... Read More >
The new Tax Cuts and Jobs Act TCJA scales back or eliminates several itemized deductions, including deductions for qualified mortgage interest. Notably, interest paid on home equity debt is no... Read More >
In a recent News Release, the IRS reminded taxpayers and tax practitioners that they will be asked to verify their identities when calling the IRS. Taxpayers should have the following... Read More >
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