IRS Adds Time to Replace Some Livestock

IRS Adds Time to Replace Some Livestock

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...
IRS Announces Contracts with Debt Collectors

IRS Announces Contracts with Debt Collectors

Taxpayers now know the private firms that could come calling to collect tax debt after September 23, 2021. This latest announcement from the Internal Revenue Service marks the fifth year the agency has used private debt collectors for overdue taxes. Which private...
Charitable Deductions for Non-Itemizers

Charitable Deductions for Non-Itemizers

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...
IRS Issues Extension Deadline Reminder

IRS Issues Extension Deadline Reminder

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...