The Internal Revenue Service (IRS) is particular about paperwork. This holds true when it comes to transactions involving cryptocurrency like Bitcoins.
Tips to make the most of your tax return with electronic filing
The year is ending, and tax season is just around the corner. In a matter of weeks, tax forms will begin to fill mailboxes throughout the country. In an effort to speed the process of getting refunds out to taxpayers, the Internal Revenue Service (IRS) is encouraging taxpayers to make use of the electronic filing system.
Retirement planning tips to use before the end of the year
Retirement planning is a complex process with unique tax implications. A failure to complete certain tasks within a given timeline can lead to the loss of potential benefits, like tax deductions, while a misstep could result in an audit.
Tax benefit of home ownership challenged by proposed reform
The current tax proposal under consideration in Congress has a direct impact on homeowners. Essentially, the proposal removes deductions for state and local taxes paid on property that a homeowner can claim on federal tax returns. This can result in an increase in one’s federal tax bill. A publication in The Washington Post discussed this issue, noting this is just one of many tax obligations home owners should note that could change as a result of tax reform.
