If you invest in cryptocurrency or digital assets, you may receive a new tax form in your mailbox, inbox, or available for download: Form 1099-DA (Digital Asset Proceeds From Broker Transactions). ...

The kickoff to football season is here, and whether you are grinding out daily fantasy lineups, placing parlays on your phone, or trading event contracts, millions of dollars are moving across screens...

One of the most common statements I hear from cryptocurrency and digital asset investors is: “I never cashed out to my bank account, so I don't have to report anything to the IRS.” Unfortuna...

 Download complete transaction histories: Export CSV files and trade confirmations from every exchange and platform you used during the year—including purchase dates, original costs, and networ...

That mile-long receipt you just got from the drugstore may be more valuable than you think. As we gear up for summer, you’re likely stocking up on warm-weather essentials. But before you toss tha...

It's hurricane season! Did you know many taxpayers affected by disaster situations qualify for tax relief? When the President declares a federal disaster, the IRS issues a disaster announcement. The a...

As the cost of education continues to rise, parents and students look for ways to decrease the financial burden placed on them today. One way to offset these costs is to find and apply for scholarship...

If you are considering updates to your U.S. based home, you may consider taking advantage of the Residential Clean Energy credit which is 30% of the costs from now through 2033. Eligible property incl...

“Kiddie Tax” is the tax paid on a “child’s” investment income in excess of $2,500, at the marginal tax rate of their parents, for the 2023 tax year.  The “Kiddie Tax” was introduced as ...

If you’re a homeowner, it’s likely you continually work on your home. Some projects may be minor and low cost, while others are major and expensive. All these projects improve your living conditio...

Social Security benefits may be tax free or includible in gross income at 50% or 85%. This depends on a couple’s income, Social Security benefits, and tax-exempt interest. The fact that the benefits...

Passive activity losses generally are limited to the extent of passive activity income for the year. Losses in excess of this income are suspended and used in future years when there is passive income...

Margin interest may be deductible as investment interest. It is treated as an itemized deduction, subject to a net investment income limitation. Margin interest does not offset capital gains....

U.S. citizens are taxed on their worldwide income. They must figure gain or loss on the sale of foreign real property. If the foreign property is a residence, the home sale exclusion may apply. Note: ...

For purposes of education tax credits, transportation costs are not treated as qualified educational expenses. When it comes to work-related education that maintains or improves work skills but doesn�...

IRS Announces More Flexible Offier-in-Compromise Terms to Help a Greater Number of Struggling Taxpayers Make a Fresh Start, From IRS.gov, 5/21/12

Federal Circuit dismisses refund suit based on all-zero returns, From Journal of Accountancy, 4/20/12

What's the Most Ridiculous Thing You've Heard This Tax Season?, From CPATrendlines, 4/16/12

Celebrities are often in debt to the tax man, From USA Today, 4/17/12

Study finds tax deadline day can be deadly on roads, From Foxnews.com, 4/10/12