The U.S. Supreme Court has declined to hear two conservative groups’ claim for damages. The groups (True the Vote, Inc., and Linchpins of Liberty) were seeking relief on the basis that they were singled out for additional scrutiny and delayed consideration of their applications with the IRS for tax-exempt status. They alleged their 1st Amendment […]
The Centers for Medicare and Medicaid Services (CMS) has proposed changes to health insurance marketplaces, effective in 2018, which could result in reduced PTCs for low-income taxpayers. Taxpayers who meet low-income requirements and have enrolled in a health insurance marketplace plan may qualify for PTCs. Proposed CMS regulations alter the way PTCs are calculated. If […]
An audit from the Treasury Inspector General for Tax Administration (TIGTA) commended the IRS for recognizing the effect identity theft has on tax administration and for its efforts to improve detection and prevention. Tax identity theft occurs when an individual uses another person’s name and taxpayer ID number to file a fraudulent return and claim […]
This article part of our 2017 Tax Season FAQ Series – If you have a question submit it to FAQ@rmfcpallc.com, and it may become part of a future post. The answer is going to most likely come down to where the child lives and how much money they earn during the year. The age excludes […]
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