Inside the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025, is a brand-new federal tax credit that most people haven't heard about yet — and it could put up to $1,700 back in your pocket from 2027 simply for donating to certain school scholarship funds. The catch? The rules aren't
Earlier this month, the IRS has announced the new targets for their examination efforts. This information is in line with the previous discussion to target wealthy individuals over the $400,000 income threshold that was mentioned by President Joe Biden in the 2022 State of the Union speech, Treasury Secretary Janet Yellen who instructed the IRS
The Treasury Department and Internal Revenue Service announced yesterday that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days. We assume the State and local authorities might
