The IRS Backlog Is Causing Taxpayer Heartburn
Prior to COVID-19, the IRS issued refunds quickly and answered questions in a timely manner. However, COVID-19 caused an array of delays:
Tax Information Reporting Requirement for Cryptocurrency Added by
Read about these new rules that will apply to digital asset transactions in 2023. The first crypto tax forms will appear in January 2024.
The IRS May be Getting a Massive Budget Increase. Will It Impact the Audit
Learn more about the proposed major budget increase to the IRS and how it could affect you:
What Is Tax Basis and Why Is It So Important?
Learn how the basis of an asset is used to calculate tax deductions for depreciation, casualties, and depletion, as well as gains or losses.
Do You Need a New IRS Identity Verification?
Here’s what you need to do to get a new IRS identity verification:
Tax Treatment of Reverse Mortgages
Find out what a reverse mortgage is and how it can help seniors keep up with rising costs and inflation.
Does Your Business Need to File Forms 1099-NEC or 1099-MISC?
Learn whether your business needs to file forms 1099-NEC or 1099-MISC.
Tax Ramifications of Disposing of a Vehicle
If you buy a new car, how should you deal with an old car? Options with and without tax ramifications are available:
Fall Tax Planning May Be Wise
The tax situation of every taxpayer is unique. Below you will find a list of possible tax strategies that you might find useful: