Fore! When Golfers Miss the Fairway on Taxes

,
As Rory McIlroy celebrates his historic 2025 Masters victory, joining an elite group of golfers – including Tiger Woods and Jack Nicklaus – who've completed the career Grand Slam, the spotlight on professional golf has never been brighter.…

IRS Unveils Top Tax Scams and Threats to Watch For

,
Article Highlights: Dirty Dozen Email Phishing Scams Bad Social Media Advice IRS Individual Online Account Help from Scammers: Fake Charities  False Fuel Tax Credit Claims  Credits for Sick Leave and Family Leave  …

How to Handle IRS Letters During Filing Season: What You Need to Know for 2025

, , ,
The dreaded moment arrives: you check your mail, and there it is—a letter from the IRS. Your heart sinks. What could it be? A mistake? A penalty? A request for missing information? If this sounds familiar, you’re not alone. During filing…

Hidden Tax Benefits: How Equitable Ownership Can Maximize Your Mortgage Interest and Tax Deductions

, ,
 Article Highlights: Equitable Ownership Who Qualifies as an Equitable Owner? Tax Implications of Being an Equitable Owner Mortgage Interest Deduction Property Tax Deduction Examples of Equitable Ownership Examples Where…

Money Doesn’t Stink: The 12 Strangest Taxes in History

,
Throughout history, taxes have been a fundamental aspect of governance, often reflecting the economic and social priorities of the times. While many taxes are straightforward, aimed at income, property, or sales, some historical taxes have been…

From Sugary Sips to Slimmer Kids – The Real Impact of Seattle’s Soda Tax

, , ,
New research indicates that children living in Seattle experienced a significant decrease in body mass index (BMI) following the implementation of the city's soda tax. This tax, aimed at reducing the consumption of sugary beverages, has not…

The IRS Is Tackling Tax Evasion With AI

As the current tax season continues, the Internal Revenue Service (IRS) has ushered in a new era of tax enforcement thanks to the power of artificial intelligence (AI). AI tools have taken nearly every industry by storm recently, and even federal…

Major Tax Sunset on the Horizon

, , , ,
Article Highlights: Estate and Gift Tax Personal Exemptions Standard Deductions Home Mortgage Interest Deduction Limitation on Tax Deductions (SALT) Suspension of Tier 2 Miscellaneous Itemized Deductions Suspension of…

E-File Mandate – Reporting of Cash Payments Over $10,000

, , , ,
Article Highlights: Reason for Form 8300 E-File Mandate Waiver Exemptions Late Returns Late Filing Penalties Record Keeping E-File Starting Jan. 1, 2024, businesses are required to electronically file (e-file) Form…

IRS Expands Requirement to E-File Information Returns Starting in 2024

, , ,
Article Highlights:  New Lower threshold for e-filing information returns Why the e-filing mandate? What is an Information Return? Other affected filings Corrected information returns Noncompliance Penalties Waivers …