Are you yet to file your 2019 or 2020 tax returns, or did you already file them but late? Generally, the IRS imposes a late filing penalty on tax returns filed after the relevant deadline. This onerous penalty may add up…
Electric car sales broke records in 2021 and have remained consistent in 2022. Sales of electric cars, including fully electric and plug-in hybrids, doubled in 2021 to a new record of 6.6 million sales. Taxpayers who purchase qualifying electric cars…
In the middle of October, the IRS updated its procedure for issuing guidance using frequently asked questions (FAQs) on any newly passed tax laws. The IRS released a document providing a general overview clarifying taxpayers’ ability to rely on guidance…