How to Cancel an IRS Payment Plan if You No Longer Owe as Much
Learn how to effectively cancel an IRS payment plan when your financial situation changes or your balance is reduced.
Investment and Financial Markets
Corrected 1099-DIV After Filing: What to Do Next
Learn how to handle a corrected 1099-DIV after filing, including steps for amending returns and managing IRS communications.
What Is an Explanation Statement and How Is It Used in Finance?
Discover how explanation statements clarify financial details, influence tax filings, loan approvals, and corporate reporting requirements.
When Does Reverb Issue a 1099 and What Sellers Need to Know?
Learn about Reverb’s 1099-K issuance, reporting thresholds, and how to manage your sales records effectively.
How Do Roth 401K Taxes Work? Contributions, Withdrawals, and More
Understand the tax implications of Roth 401(k)s, from contributions to withdrawals, and how they affect your retirement planning.
Where to Enter Form 8911 for the Alternative Fuel Vehicle Credit
Learn how to correctly enter Form 8911 to claim the Alternative Fuel Vehicle Credit on your tax return, ensuring compliance and maximizing benefits.
Is New Siding Tax Deductible for Homeowners or Rental Properties?
Explore the tax implications of new siding for homes and rentals, focusing on deductions, classifications, and necessary documentation.
How Is Tax Underpayment Penalty Calculated?
Learn how tax underpayment penalties are calculated, including factors affecting the amount and when these penalties apply.
Can You Deduct Sales Tax as a Business Expense?
Explore how businesses can navigate sales tax deductions, understand qualifying purchases, and manage recordkeeping for optimal tax efficiency.
Do I Need to Report a 1099 G/INT Refund From South Carolina?
Learn about the tax implications of receiving a 1099-G or 1099-INT from South Carolina and how to manage your reporting obligations effectively.
Where Do You Input Information From the RUT 25 Form?
Learn how to accurately input and manage RUT 25 form data on tax documents, including key considerations for amendments and recordkeeping.
Roth 401K Early Withdrawal Penalty: What You Need to Know
Understand the nuances of Roth 401K early withdrawal penalties, including calculations, exceptions, and reporting requirements.
Does the IRS Not Have a Street Address? Here’s What to Know
Learn why the IRS often uses P.O. boxes, how to find the right address, and explore alternative ways to send documents or payments.
Is Pro Bono Work Tax Deductible? What You Need to Know
Explore the nuances of tax deductions for pro bono work, including eligible expenses and proper documentation for charitable contributions.
Do You Have to Report 401k on Taxes? Here’s What to Know
Understand the tax reporting requirements for 401k plans, including traditional, Roth, distributions, rollovers, and potential non-reporting consequences.
How to Use a Grantor Tax Information Letter for Tax Reporting
Learn to effectively utilize a Grantor Tax Information Letter for accurate tax reporting and compliance with federal requirements.
What Happens if You Pay Back a Gifted Down Payment?
Explore the implications of repaying a gifted down payment, including potential tax effects and changes in mortgage classification.
Is an IRA RMD Considered a Qualified Distribution?
Explore the nuances of IRA RMDs, their tax implications, and how they differ from qualified distributions.
Do You Have to Pay Taxes on Land You Sell That You Inherited?
Learn how taxes apply to inherited land sales, including capital gains calculations and potential deductions.
Is There a Medicare Tax on Capital Gains?
Explore how Medicare taxes apply to capital gains, including thresholds, types of gains, and filing requirements for accurate tax planning.