Tag: irs
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Six things that are true about taxes | Paul Batura
Perhaps one surprising aspect of “Tax Day” being on April 15th is that it wasn’t eventually pushed to May or June 15th – or beyond. That’s because it used to be March 1st, was bumped to March 15th in 1918, and then April 15th in 1955. Procrastination and taxes seem to go hand in hand. Over twenty million…
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IRS to furlough nearly half of its workforce as the government shutdown enters a 2nd week
WASHINGTON — The IRS will furlough nearly half of its workforce on Wednesday as part of the ongoing government shutdown, according to an updated contingency plan posted to its website. Most IRS operations are closed, the agency said in a separate letter to its workers. The news comes after President Donald Trump and Congress failed to strike an agreement to fund…
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Colorado attorney cannot deduct $300K racecar spending as business expense, 10th Circuit says
The federal appeals court based in Denver agreed on Monday that a Colorado attorney could not claim more than $300,000 in car racing expenditures as “ordinary and necessary” business expenses to be deducted from his taxes. The Internal Revenue Service began looking into the tax filings and non-filings of James W. Avery between 2008 and…