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

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Filing taxes as a small business owner can be complex, with numerous factors to consider. From tax law revisions to the overwhelming number of forms, understanding your small business tax rate and how to file can be difficult. Your business entity type and preferred filing status will also affect your tax rate.

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

CPA Practice

He’s extremely well-suited for his current assignment, having strong management skills, an insider’s knowledge of Washington, and having already worked at the IRS. That money is expected to be used to modernize the agency’s outdated technology systems, improve taxpayer services, and to increase tax enforcement activities, among other things.