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IRS Will Tax Arizona Families’ Tax Rebates

CPA Practice

Taylor, Kiplinger Consumer News Service (TNS) If you received an Arizona child tax rebate last year, you will have to report that amount on your federal income tax return. The IRS has classified the rebate payments as taxable income, meaning some Arizona families might have to pay taxes on the money they received.

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Ex-IRS Chief Says He Is Confident Daniel Werfel Will Do Well as Agency’s New Leader

CPA Practice

Mark Everson “Commissioner Werfel and I worked together when he was on my staff at Office of Management and Budget (OMB) during the Bush administration 20 years ago,” Mark Everson, who was commissioner of the IRS from 2003 to 2007, said in a statement emailed to CPA Practice Advisor. I commend President Biden on this choice.

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Business Tax Rates: How Much Do Small Businesses Pay in Taxes?

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Understanding your entity type and requirements is the first step toward filing your taxes accurately and efficiently. Tax laws are constantly changing, and it can be challenging to keep up with the latest revisions. A professional tax advisor or CPA can accurately file your business taxes on time.