Taxes
Latest Taxes News
IRS Releases Draft Of New Crypto Tax Form Used To Report Transactions
The IRS has offered a glimpse of the future of crypto reporting. The agency has released a draft of Form…
The Senate Intensifies Its Focus On Offshore Tax Evasion
Offshore tax evasion is weighing heavily on the minds of the Senate Budget Committee these days. Already, the committee has…
The IRS & Abusive Trust Schemes: Not All Trust Expenses Are Deductible
Third-party promoters routinely market trust arrangements as a means for taxpayers to avoid or defer federal income taxes. So much…
Jury Will Decide On $43 Million Tax Refund Claim By Zaxby’s Cofounder
On May 13, 2024 an exciting jury trial will commence in the United States Court House in Athens, Georgia. Tony…
Tax Implications for Reverse Mortgages
A reverse mortgage can be a useful way to access the value of your home without having to sell it.…
9 Common Tax Mistakes and How to Avoid Them
The more money you make, the higher your tax liability could be. And making a mistake in your filing can…
Understanding Form 8606 for IRA Taxes
If you use an IRA to save for retirement, IRS Form 8606 might be an important part of tax season.…
What Is Net Investment Income and How Is It Taxed?
Net investment income (NII) is defined as the profit gained from investments after deducting certain related expenses. This includes various…
How to Report a Backdoor Roth IRA With Form 8606
A backdoor Roth IRA typically offers high-income earners a workaround to contribute directly to a Roth IRA when their earnings…
How to Set Up a Payment Plan for Taxes You Owe
When an individual or business owes taxes to the Internal Revenue Service (IRS), settling the entire amount in a single…
