Category Archives for Tax Filings

Tax Filers Must Answer New Crypto Question or Face Consequences

  • February 10, 2023

The Internal Revenue Service (IRS) issued an alert recently to taxpayers, reminding them that they must report all digital asset-related income and answer a new digital assets question on their 2022 federal

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Some New Year’s Resolutions for Tax and Accounting Professionals

  • January 13, 2023

Well, it’s officially 2023, and lots of people seem to be buzzing with renewed energy for self-improvement. If you've already begun that endeavor, maybe you’ve already started working on your own resolutions

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Supreme Court Considers Attorney-Client Privilege in Tax Case

  • January 13, 2023

The U.S. Supreme Court recently heard oral arguments in a tax case in which both attorneys and CPAs offered advice. At issue is the question of whether a communication involving both legal and nonlegal

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Tax Prep Checklist: What to Gather Before Filing

  • January 12, 2023

Whether you file your taxes yourself or hire a professional accountant, the first step in your tax prep is gathering all the information you’ll need to complete your tax forms.While not exhaustive for

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7 Personal Financial Resolutions for the New Year

  • January 12, 2023

And (Most Importantly) Real Tips on How to Keep Them!Another holiday season has come and gone and we find ourselves ringing in 2023 – time to turn over a new leaf, right? If you’re thinking about sharpening

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What the Wealthy Can Fear from a New IRS Law on $600 Payments

  • December 13, 2022

A new IRS law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.Under the rule,

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What the $80 Billion in IRS Funding Means for Your Tax Return

  • December 13, 2022

Should taxpayers expect more scrutiny from the Internal Revenue Service, a chunk of whose $80 billion in additional IRS funding will pay for more auditors to ferret out tax cheats?Shortage of IRS accountants

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What Is a 1099-K? Who Gets One and How It Works

  • December 12, 2022

Simply put, a 1099-K form is a record that a third-party payment network transferred at least $600 to you during the year.Did you get paid more than $600 in 2022 for goods or services through a third-party

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Now is the Time for Year-End Tax Planning

  • November 22, 2022

With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start

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Tax Relief For Victims of Hurricane Ian in Florida

  • October 24, 2022

The Internal Revenue Service (IRS) recently announced that individuals, households, and residents who have a business anywhere in the state of Florida qualify for Hurricane Ian tax relief. Here are

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