Tax Disclosures: What They Are and When You Need to File
Understand the role of tax disclosures in maintaining compliance and how to properly report specific tax positions or financial holdings to the IRS.
Investment and Financial Markets
What Are Consumables in Business? Accounting & Tax Rules
Learn how the financial and tax treatment of everyday business supplies directly impacts your financial statements and overall tax obligations.
How Does the Russian VAT System Work?
Explore the fundamental mechanics of the Russian VAT system, from determining tax liability to fulfilling key compliance and reporting requirements.
What Is the Annuity 5-Year Rule for an Inheritance?
Inheriting an annuity requires understanding your distribution options. Learn how different choices for accessing funds affect your tax liability and timeline.
The Core Ethical Principles of the GAO Yellow Book
The GAO Yellow Book provides a foundation for public trust by outlining the ethical mindset and structured process auditors must use to ensure their independence.
Rental Income Tax Rules in California
Effective management of a California rental property requires a clear understanding of your full tax obligations, from defining income to state and federal filing.
How Do I Know Which Tax Form to Use?
Understand the connection between your financial activities and your tax return. This guide helps you identify the correct documents based on your life events.
Answering Question 15 on Form 8867 Correctly
For tax preparers, fulfilling due diligence on Form 8867 requires understanding the nuanced “knowledge” standard and how to apply it to client information.
Mortgage 1099 vs. 1098: Which Tax Form Do You Need?
Clarify which tax forms your mortgage lender sends and why. This guide explains the documents for interest deductions and less common financial events.
Can You Combine Multiple IRA Accounts?
Consolidating IRAs can simplify your retirement finances. Explore the guidelines for account transfers and how to navigate the potential tax considerations.
Do Roth IRAs Have a Required Minimum Distribution?
A primary Roth IRA benefit is avoiding required distributions, but this advantage doesn’t automatically apply to those who inherit the account.
What Are the Section 58 Loss Limitations for AMT?
Learn how certain investment and business losses are treated differently for the AMT, requiring a unique calculation that impacts your current and future taxes.
What Does Box 14a on Your W2 Form Mean?
Understand the employer-provided information in Box 14a of your W-2 and how these amounts can influence your overall tax liability or deductions.
Filing a Late Portability Election With Rev. Proc. 2023-10
Rev. Proc. 2023-10 provides a simplified method for certain estates to make a late portability election, preserving a deceased spouse’s tax exemption.
Commissioner v. Tufts: Taxing Debt Over Fair Market Value
Examines how nonrecourse debt is taxed in property sales, clarifying why the full liability is realized even when it exceeds the property’s fair market value.
Is There Federal Income Tax in Florida?
Understand the nuances of Florida’s tax landscape. While there’s no state income tax, residents are still subject to federal income tax laws.
How to Report 1099-B Supplemental Information
Your 1099-B has data beyond the main boxes that affects your taxes. Learn how to interpret and correctly report this supplemental information.
Is Unemployment Income Taxable in PA?
Pennsylvania treats unemployment income differently for federal, state, and local taxes. Learn the requirements for each to manage and report your benefits correctly.
Rev. Rul. 83-70: Tax Treatment of Assumed Vacation Pay
Learn how Rev. Rul. 83-70 guides the tax treatment of assumed vacation pay in an asset sale, impacting the buyer’s basis and the seller’s sale price.
What Happens If You Don’t File Taxes by April 15th?
Missing the tax deadline has distinct financial outcomes. Learn the procedural steps for filing after the due date and how to manage your obligations to the IRS.