LLCs changing from partnership tax treatment to corporation or vice-versa may encounter issues including gain recognition.

On remand from the Eighth Circuit and after the Supreme Court held in the case that the Sec. 6330(d)(1) period for filing a Tax Court petition for a review of a Collection Due Process determination is ...

Illinois state lawmakers passed a new $1.5 billion transit funding package without increasing taxes statewide. Senate Bill ...

SPRINGFIELD – State lawmakers approved new funding for public transportation agencies without large statewide tax increases ...

Taxpayers who requested an automatic six-month extension to file their 2024 federal income tax returns earlier this year still have to get their paperwork in by Wednesday, notwithstanding the federal ...

The IRS recently announced some changes to standard deductions and tax brackets. It's important to understand the new tax rules so you don't pay more to the IRS than you need to. The new rules will ...

Claiming family tax credits is a must if you're eligible. Not only can family tax breaks lower your tax liability, but they may even increase your refund. However, which credits you qualify for can ...

Millions of taxpayers have been reminded to file their 2024 tax returns by the end of Wednesday. The Internal Revenue Service (IRS) said the October 15 deadline applies to taxpayers who were granted ...

LOWCOUNTRY, S.C. (WCIV) — Despite the government shutdown, the deadline for businesses and Individuals to file their 2024 taxes is Wednesday. This deadline applies to those who filed an extension back ...

LOS ANGELES (KABC) -- A tax filing extension was set to end Wednesday for Los Angeles County residents impacted by the devastating January wildfires. The Eaton, Palisades and other fires disrupted ...

Tennesseans have until Nov. 3 to file their tax returns due to an extension granted after severe weather. A federal government shutdown has resulted in the furlough of half of all IRS employees and ...

(NEXSTAR) – An estimated 20 million taxpayers will need to file before this week’s deadline, the Internal Revenue Service (IRS) warned Tuesday. While most people filed earlier this year, returns are ...