by taxPRO Websites Staff | Sep 30, 2021 | Tax Tips and News
The Internal Revenue Service is instituting a user fee for estates seeking an estate tax closing letter. At the same time, however, the agency is reminding estates there’s another path that avoids the fee altogether. The new user fee—a $67 charge for providing a...
by taxPRO Websites Staff | Sep 29, 2021 | Tax Tips and News
Farmers and ranchers hard-hit by drought in parts of the U.S. have gotten a little help from the Internal Revenue Service. While the IRS couldn’t make it rain, it did give affected producers an additional year to replace livestock and defer tax from any forced sale of...
by taxPRO Websites Staff | Sep 28, 2021 | Tax Tips and News
To help compensate for a shortage of diesel fuel in the wake of Hurricane Ida in Louisiana, the Internal Revenue Service has extended its relief measures basically allowing dyed diesel fuel to be temporarily sold and used for highway purposes. This latest announcement...
by taxPRO Websites Staff | Sep 28, 2021 | Tax Tips and News
This time of year, filing our income taxes may not top the other concerns of the day. Fall weather, school days and football all tend to take center stage. That said, we could all probably use a reminder that if a taxpayer filed an extension back in May, their income...
by taxPRO Websites Staff | Sep 28, 2021 | Tax Tips and News
Recent changes in the tax regulations to help ease the burdens of the pandemic could lead to lower tax bills at filing time for some Americans. The new benefits allow taxpayers who do not itemize to take advantage of donations to charity—at least for a while. The...
