Taxation · 08/07/2025
Guide to Taxable Vs Exempt Income Types
This article delves into various sources of income and their tax responsibilities, including salaries, benefits, and cooperative earnings. It assists readers in identifying taxable and tax-exempt income, providing essential guidance for lawful and compliant financial management.
Taxation · 08/12/2025
Congress Tightens Scrutiny on Highvalue Tax Refunds
High-value tax refund applications (over $2 million/$5 million) will be reviewed by the IRS and require reporting to Congress. This review will ensure the compliance of the application rationale and supporting documentation, including the history and reasons for the refund. Refund requests arising from various circumstances must strictly adhere to the review process, and violations may affect the outcomes.
Taxation · 08/12/2025
IRS Tightens Rules on Highvalue Tax Refunds and Credits
Applications for tax refunds and credits exceeding $2 million must be reviewed by the IRS and a report submitted to the Joint Tax Committee to ensure tax transparency. The review process may involve investigations or direct acceptance of applications, with important information detailed in the report to enhance tax fairness.