IRS Issue Guidance On Their Intent To Publish Regulations Regarding Clean Vehicles

Tax Preparation, Tax Representation / By
A credit for qualifying clean cars purchased and put into operation by the taxpayer during the tax year is offered under the Inflation Reduction Act of 2022 (IRA). In accordance with the vehicle classification, the IRA added the requirements that any vehicle eligible for the new clean vehicle credit must undergo final assembly in North …

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IRS Announces Delay for Implementation Of $600 Reporting Threshold for Third-Party Payment Platforms’ Forms 1099-K

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The reporting criteria for third-party settlement groups that were supposed to go into effect for the 2018 tax filing season have been delayed, according to the Internal Revenue Service.   Third-party settlement organizations won't be required to disclose the tax year 2022 transactions on a Form 1099-K to the IRS or the payee for the …

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Recognizing The Distinctions Between Standard and Itemized Deductions and Deciding Which Is Appropriate For Your Circumstances

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Choosing whether to itemize deductions or accept the standard deduction is one of the first choices that people must make when filing their taxes. A taxpayer's decision may be influenced by a number of variables, such as modifications to their financial position, adjustments to the standard deduction, and recent changes to the tax code.   …

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IRS warns Taxpayers of fraudulent phone calls and advisor hanging up.

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IRS warns Taxpayers of fraudulent phone calls and advises hanging up. Scammers frequently phone unwary taxpayers during tax season to try to defraud them. In an effort to steal money from taxpayers or personal information, these scammers frequently make ominous or threatening phone calls while impersonating as the IRS. However, by being aware of how …

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Financial Ratio Analysis – Profitability Ratio – Return Ratios

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Financial Ratio Analysis - Profitability Ratio - Return Ratios   Financial Ratio Analysis Financial ratios are numerical measurements that are employed in the evaluation of businesses. Financial analysts, stock research analysts, investors, and asset managers utilize these statistics to assess the general economic health of organizations with the ultimate goal of improving investment choices. Financial …

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