Capitol Digest

Section

Taxes & IRS

Filing guidance, rule changes, and what they mean for your wallet.

IRS Expands Its Online Business Tax Account as Digital Push Continues
Taxes & IRS

IRS Expands Its Online Business Tax Account as Digital Push Continues

The agency added features to its self-service Business Tax Account, part of a multiyear effort to move routine tax tasks online for entities and their authorized users.

'No Tax on Tips and Overtime': What the New Deductions Mean for Workers
Taxes & IRS

'No Tax on Tips and Overtime': What the New Deductions Mean for Workers

New federal deductions for qualified tips and overtime pay are taking shape for the filing season, with dollar limits, income phase-outs, and transition rules workers should understand.

IRS Begins Phasing In Automatic Penalty Relief for Compliant Taxpayers
Taxes & IRS

IRS Begins Phasing In Automatic Penalty Relief for Compliant Taxpayers

A new program automatically waives certain penalties for taxpayers with a track record of filing and paying on time, a change advocates have long sought.

Why a Mid-Year Paycheck Checkup Can Save You From an April Surprise
Taxes & IRS

Why a Mid-Year Paycheck Checkup Can Save You From an April Surprise

Adjusting withholding in the summer, rather than at filing time, gives workers a chance to fix a mismatch before it grows.

LV Nails & Spa in Pennsylvania: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously
Taxes & IRS

LV Nails & Spa in Pennsylvania: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously

Paying part of a worker's wages in cash off the books can feel like a win for everyone, but of all the habits in this series it's the one the IRS treats most seriously. Here is why it raises concern, and why it quietly hurts your staff too.

529 Plans Get More Flexible, Broadening Their Appeal Beyond College
Taxes & IRS

529 Plans Get More Flexible, Broadening Their Appeal Beyond College

Recent rule changes let families use education savings for more purposes, easing a long-standing worry about locking money away.

Beauty Nails & Spa in East Boston: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously
Taxes & IRS

Beauty Nails & Spa in East Boston: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously

Paying part of a worker's wages in cash off the books can feel like a win for everyone, but of all the habits in this series it's the one the IRS treats most seriously. Here is why it raises concern, and why it quietly hurts your staff too.

Queen Nails by Sophia LLC in South Carolina: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously
Taxes & IRS

Queen Nails by Sophia LLC in South Carolina: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously

Paying part of a worker's wages in cash off the books can feel like a win for everyone, but of all the habits in this series it's the one the IRS treats most seriously. Here is why it raises concern, and why it quietly hurts your staff too.

Lovely Nails & Spa in Marion: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously
Taxes & IRS

Lovely Nails & Spa in Marion: Half on the Check, Half in Cash: The Payroll Habit the IRS Takes Most Seriously

Paying part of a worker's wages in cash off the books can feel like a win for everyone, but of all the habits in this series it's the one the IRS treats most seriously. Here is why it raises concern, and why it quietly hurts your staff too.