Does Spousal Support Count as Income?
Whether spousal support is taxable income depends on your divorce agreement’s timing and terms. Understand the nuances that determine its tax treatment.
Whether spousal support is taxable income depends on your divorce agreement’s timing and terms. Understand the nuances that determine its tax treatment.
Discover how Texas consolidates Municipal Utility District (MUD) taxes with other local levies onto a single, comprehensive property tax statement.
Understand the net financial position of an LLC from an owner’s perspective. This guide explains the core principles behind member’s equity.
A guide to the repayment phase of the CARES Act employer tax deferral, clarifying your obligations and how to correctly settle your 2020 tax liability.
Learn how a Total Control Account, an insurer-held option for life insurance benefits, differs from a traditional bank account in security and function.
Understand how time spent in the U.S. while an asylum case is pending can define your tax residency and affect your annual filing obligations.
An overview of Cuba’s evolving tax system, clarifying the financial obligations for residents, private enterprise, and foreign investment.
Learn the correct procedure for submitting your financial information on Form 433-F, a key step in the process of resolving an outstanding tax liability.
Explore the legal standards that distinguish a tax error from a criminal false return, including the required element of intent and prosecution time limits.
Receiving shares from RSU vesting is treated as a purchase, which can trigger the wash sale rule. Learn the tax implications and how to report it correctly.
Explore why a contract for financial protection differs from a service delivered to your home and how this impacts its use for address verification.
See if your ENERGY STAR metal roof qualifies for a 2024 tax credit. Learn the process, from calculating based on material costs to filing the correct IRS form.
Examines the foundational tax principle distinguishing a loan from a taxable sale, clarifying when a disposition occurs for assets with nonrecourse debt.
Understand how Reg. 1.1502-13 treats a consolidated group as one entity, deferring and recharacterizing items from internal corporate transactions.
Learn why some S Corp income and deductions are stated separately, impacting each shareholder’s tax liability based on their individual financial circumstances.
Learn about the alternate valuation date, an executor’s choice to reduce estate tax that also changes the cost basis for inherited assets.
Examine the legal foundation of U.S. income tax and the distinction between the system’s procedural design and the fundamental obligation to pay.
Receiving IRS Letter 5598 begins a formal review of your tax return. Understand the procedural steps and your role throughout the examination process.
Explore the financial and legal outcomes for both the homeowner and the payer when a third party covers a property tax bill.
Navigate the complexities of Minnesota’s state-level gift tax. Understand the distinct rules for residents and property transfers to ensure compliance.