The Tax Bite of Powerball Winnings: What You Should Know
Powerball lottery winners owe more than you might think in taxes before the ink on their checks is even dry. Find full details in this Powerball tax guide.
Taxes
Congress Reconsiders the SALT Deduction Cap
Congress is weighing several bills that would modify or repeal the $10,000 SALT deduction cap. Learn who benefits and what’s proposed.
Foreign Account Reporting Due October 16
All United States entities (including citizens and resident aliens as well as corporations, partnerships, and trusts) with financial interests in or authority o
Made a Mistake on Your Tax Return – What Happens Now?
Increasingly complex tax laws make it more likely that errors are made or items are omitted on tax returns, but they should be corrected by amending the return, generally within 3 years of filing the original return.
Potential Tax Implications of the PGA-LIV Merger – A Guide
The potential merger of the PGA and LIV is one of the biggest sports stories in years. Find everything you need to know about possible tax implications here.
Video Tips: Mistake on Your Tax Return? Here’s What to Do
If you realize that you have made a mistake on your tax return or receive a correction notice from the IRS, watch this video for a brief guide on how to proceed.
Is Hobby Income Taxable? Are Hobby Losses Deductible?
Not-for-profit rules and the complicated definition of a trade or business affect how income from and expenses of hobby activities are treated for tax purposes.
6 common tax preparation mistakes that can get you in trouble
Some common tax mistakes are more than just a “small problem.” They could actually land you in trouble with the IRS. Learn more.
Procrastinating on Filing Your Taxes?
If you have been procrastinating about filing your 2023 tax return or have not filed other prior year returns, you should consider the consequences, including the penalties, interest, and aggressive enforcement actions.
Video Tips: Collect Your 2019 Tax Refund Before The Deadline
It’s not too late for the 1.5 million taxpayers with unclaimed 2019 refunds to claim their cash, but they need to file soon. Watch this video for the detail.