LATEST TAX NEWS

Should You Get an IRS Identity Protection PIN? Article Highlights: What is an IP PIN? Social Security Number IP PIN Program Expansion How the IP PIN is Used Annual Number Applying for an IP PIN Current Availability An Identity Protection PIN (IP PIN) is a six-digit...

What You Need to Know About the IRS and Tax Audits The IRS has long been a bogeyman for the American public, and there’s good reason for that. They have the unique ability to do what few other creditors can: taking your home and selling it out from under you. Still,...

Our Olympic Champs Get a Tax Break Article Highlights: Olympians’ Prize Money Who Gets Taxed? Gold Medals Aren’t Solid Gold Value of Medals if Sold You may not realize this, but in addition to winning an Olympic medal, winners are compensated by the U.S. Olympic...

Complications to the IRA-to-Charity Distribution Provision Article Highlights IRA Contribution Age Restrictions Removed Required Minimum Distributions Qualified Charitable Distribution Tax Trap Individuals are required to begin taking distributions from their IRA when...

Were You Affected by a Disaster Loss? Article Highlights: Disaster Losses Extension of Filing Due Dates Hurricane Ida California Wildfires Elections Net Operating Loss Possible Gain With the wildfires in the west, hurricanes, and flooding in the southeast and eastern...

Never Make These 9 Mistakes with Exempt Employees The federal Fair Labor Standards Act (FLSA) requires employers to pay most employees overtime pay for all hours worked in excess of 40 in a workweek (some states require overtime in additional situations). The FLSA...