Your taxes this year may be dominated by a clear question: "At any point in 2020, did you sell, receive, send, trade, or earned financial interest in any virtual currency?"In...
Treatment of distributions to persons placed on active service for at least 179 days (article 72(t) of the code)Under the current law Under current legislation, a taxpayer who...
The IRS' voluntary Classification settlement program offers taxpayers an opportunity to reclassify workers as "employees" for tax with the hope of getting limited tax...
State Unemployment insurance is a tax program funded by employers to provide short-term benefits to workers out of a job. This is a tax required at the federal and state level. Unemployed...
The nation owes a debt of gratitude to veterans, yet sometimes these heroes come back home and pay huge taxes, which places a significant burden on them. This realization led to a...
An Insight into Personal Use propertyUncle Sam defines personal use property as an asset or property used solely for private purposes and does not serve as an investment or business...
The employer will take a part of your salary and send it to the IRS for people paid regularly, which happens via withholding taxes. People that are self-employed or paid via non-wage...
Constructive receipt for income refers to the first time the monies are available to the taxpayer. The assessment of taxes are based on the constructive receipt date regardless of...
If you have hired a gardener, nanny, cleaner, or other types of worker for household work, the law requires you to pay state and federal payroll taxes. This article sheds light on...