by Christina Minton | Feb 22, 2021 | Your Income
Your grandson needs a car, but cannot afford the payments. As a favor, you provide the $25,000 to purchase the car. You tell your grandson to pay you back when he can, but there is no loan document. The IRS sees this payment during an audit and asks you where your...
by Christina Minton | Feb 15, 2021 | The Audit
Here are six tax topics that seem innocent but can cause problems if not handled correctly. 1. Gambling winnings. If you receive a tax form at a casino for your winnings, that information is sent to the tax authorities. Since the form typically only contains the...
by Christina Minton | Feb 9, 2021 | Whats New
New one-time use PIN option available for all! The IRS is expanding a pilot program that uses Identity Protection Personal Information Numbers (IP PINs) to provide an extra layer of security for all taxpayers. Here is what you need to know. IP PIN program details The...
by Christina Minton | Feb 1, 2021 | Your Income
Your 1099’s are coming soon! Virtually every small business, including sole-proprietors, must issue at least one 1099 each year. And this year there is a new one called the 1099 NEC. Here is a summary of the most common of these informational tax forms that you...
by Christina Minton | Jan 25, 2021 | Miscellaneous
Each year thieves try to steal billions in federal withholdings by stealing your identity. As the IRS focuses more attention on this quickly growing problem, now is the time of year to be extra vigilant. Early tax filing season is the worst time Your federal tax...
