Certain micro-captive transactions are back to being reportable. On January 14, 2025, the Treasury Department and the Internal Revenue Service ...

Check out our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of January 13, 2025 – January ...

Mutual funds have become one of the more popular vehicles for stock market investments. Mutual funds generally purchase an inventory of different stocks and are controlled by experienced ...

Micro-captives are also known as 831(b) plans or small captive insurance ... When Congress updated this Section of the tax code in 2015 (PATH Act) a provision that had been exploited in the ...

Zooey Liao/CNET; Mykola Sosiukin/EyeEm via Getty It's tax season ... also expect to receive Form 1099-C, since canceled debt is considered income. Form 1099-B documents income from the sale ...

"Always remember that the amount reported on a tax form is not necessarily the full amount that's taxable," Phillips said. If you sold something online, Phillips said, you probably paid something ...

The IRS provides straightforward instructions with the form to help you get it right but always check with a tax professional if your tax situation is a little complicated and you're unsure. Article ...

THE Bureau of Internal Revenue (BIR) has filed a tax evasion case against operators nabbed in a large-scale raid against illicit cigarettes with a total of P8.54-billion tax liability. “The BIR has ...

Six Chinese nationals were also arrested. “The BIR has filed an P8.5 B tax evasion case against the criminals behind an illicit cigarette factory and 3 warehouses in Bulacan and Valenzuela.

The amounts and types of interest impact which tax form is to be used. Taxpayers who receive over $1,500 of taxable interest must list all of their payers on Part 1 of Schedule B on Form 1040.