Costs for Installing Medically-Related Home Improvements Have Tax Benefits
According to the Social Security Administration, 10,000 baby boomers a day are reaching the age of 65, as of 2018 16% of Americans were age 65 or olde…
Tax Central
Don’t Think You Have to File a Tax Return? You May Be Missing Out!
These days the tax return is used for more than just collecting taxes. It has also become a tool for the government to provide social benefits. This a…
Another Rough Tax Season for IRS and Taxpayers?
This could be another rough tax season for the IRS and taxpayers. Although this year’s filing season opens January 24, 2022 (i.e., it is the first d…
Tax Treatment of Reverse Mortgages
With inflation on the rise and medical care costs escalating, what options do seniors have for keeping up, especially if they have a mortgage on their…
Live Updates: The Latest News for Taxpayers and Small Business Owners
Check in for live updates with all the latest relevant news stories for individual taxpayers and SMB owners….
Do You Need a New IRS Identity Verification?
In November of 2021, the Internal Revenue Service launched an improved identity verification and sign-in process that enables more people to securely …
What Is Tax Basis and Why Is It So Important?
For tax purposes, the term “basis” refers to the monetary value used to measure a gain or loss. For instance, if you purchase shares of a stock fo…
Time is Running Out to Take Your 2021 RMD
Required Minimum Distributions (RMD) are required taxable distributions from qualified retirement plans and are commonly associated with traditional I…
Tax Information Reporting Requirement for Cryptocurrency Added by Infrastructure Bill
Over the last 3 years, the Internal Revenue Service has been engaged in a virtual currency compliance campaign to address tax noncompliance related to…
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