IRS will start piloting its free TurboTax alternative in 2024
It looks like the Internal Revenue Service (IRS) truly was working on a free TurboTax alternative like earlier reports had claimed. The US tax authority has announced that it will start pilot testing its new Direct File program for the 2024 filing season, though it will initially be available for…
Microsoft reveals IRS notice asking for $28.9 billion in back taxes
Microsoft owes the Internal Revenue Service (IRS) $28.9 billion in back taxes, not including penalties and interest, at least according to the tax authority. The tech giant has revealed in a filing with the Securities and Exchange Commission that it received a series of Notices of Proposed Adjustment (NOPAs) from…
EV buyers may get an instant rebate for car purchases starting in 2024
Car dealers can give buyers an instant rebate for purchasing certain electric vehicles starting in January of 2024, according to new guidance released by the IRS. The memo says eligible vehicles may qualify for a tax credit of up to $7,500. However, the credit amount will depend on whether an…