The United States Treasury Inspector General for Tax Administration (TIGTA) recently released a report finding “billions of dollars of employment taxes are uncollected.” As a result, the Internal Revenue Service (IRS) is focusing in on businesses that have allegedly unreported and underreported their employment taxes.
4 FAQs about moving, starting a new job and tax consequences
Getting a new job is an exciting prospect. For some, this requires moving to a new area and potentially selling an old home. These are big life changes that often come with a number of questions, some of the more common follow.
Win big at the casino in MN? Don’t forget about Uncle Sam’s cut.
Winning big at a casino is cause to celebrate. But, before celebrations get too out of hand, be sure to keep in mind that a chunk of those winnings will go to Uncle Sam. A failure to pay these taxes can result in an audit, which could lead to penalties and fees that may exceed the winnings.
