Due to the rise in interest rates, the current penalty rate is 8 percent—the highest in 17 years. And since it’s not deductible, the net cost likely far exceeds 8 percent.

What if your designated 529 beneficiary decides not to attend college? What are your options?

Tax law often discriminates against company owners, granting them no or fewer fringe benefits. But you, the owner, are not discriminated against when it comes to supper money.

For over 20 years, the IRS has issued an annual Dirty Dozen list identifying tax scams and avoidance schemes. This year’s list includes everything from employee retention credit claims to the use of fake charities.

The Corporate Transparency Act (CTA) imposes a new federal filing requirement for most corporations, limited liability companies (LLCs), and other business entities.

When it comes to taxes, the tax code treats professional gamblers better than recreational gamblers.