IRS issues standard mileage rates for 2020…

The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act was signed into law on December 20, 2019, as part of the government's spending bill. The bill puts into place provisions designed to increase access to tax-advantaged accounts and to prevent older Americans from outliving their assets…

Taxpayers in selected locations, including Illinois, will be eligible to opt into the online Identity Protection PIN program when the IRS begins the 2020 tax filing season…

Review items to take into consideration when donating your time share or vacation home, or donating to personal fund-raising websites…

Tax statues state that the penalty for failing to report foreign accounts is the greater of $100,000 or 50% of the highest balance in the accounts, but IRS regulations state that the penalty shall be no greater than $100,000…