The Minnesota Society of CPAs recently surveyed its members about the most outrageous tax deductions clients tried to claim on their tax returns. The list shows taxpayers often don't know which deductions are allowed or not.
As 2017 draws to a close, the uncertain tax and legislative environment means that year-end tax planning is more important than usual. To help individuals and businesses prepare for filing season, Grant Thornton LLP has some tips.
The Internal Revenue Service’s acting commissioner, David Kautter, testified at a Senate Finance Committee budget hearing asking for nearly $400 million in additional funds to help the IRS administer the Tax Cuts and Jobs Act.
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