What is a private activity bond (PAB)?PABs are tax-exempt bonds distributed by or on behalf of a state or local authority to provide special financial benefits for eligible projects....
What is considered a convertible virtual currency?Convertible virtual currency is an uncontrolled digital currency. Still, it can be used as a substitute for a real and legally recognized...
There are many ways in which sales compliance form applies, and one of them is the Use Tax. It is one of the terms common when applying for a sales tax permit in any state or accessing...
On January 5, 2021, the Treasury and IRS released a second set of final business interest expense deduction regulations (the 2021 Final Regulations) that provide additional rules to...
One of the most vital parts of financial planning is life insurance. It is essential for people of a higher age as it helps them ensure their loved ones are in good care once they...
Bad debts arise because money was loaned to a debtor or a customer received credit for purchasing a product or service, but the recipient could not fully or partially repay the debt....
Under the cash method of accounting, not only is income recorded in the year in which it was received, but income is also reported in the year in which it is constructively received.The...
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
All employees that were fired through whatever means except their own fault qualify for unemployment insurance – a joint program between the federal and state government that...