Taxes

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DOJ Alleges Decades-Long Tax Scheme To Hide Foreign Assets From IRS

On March 11, 2024, the Department of Justice (DOJ) announced that a Florida man had…

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My Dad Left Me $450k in an IRA, But I’m in the 32% Tax Bracket. How Should I Structure My Withdrawals?

There are a couple of different sets of rules around inherited IRAs and you’re subject…

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Don’t Skip The IRS ‘Yes Or No’ Crypto Tax Question On 2023 Tax Returns

There is a lot of talk about crypto investors and tax compliance, but a yes…

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What Is a Flat Income Tax and How Does It Work?

A flat income tax system is one where everyone is taxed at the same rate,…

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Many Taxpayer Assistance Centers Provide Saturday Service

In addition to reopening many Taxpayer Assistance Centers and providing pop-up style service to taxpayers…

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What Is a Graduated Income Tax?

A graduated income tax is the same thing as a progressive income tax system, where…

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IRS Names Guy Ficco As New Chief Of Criminal Investigation

The Internal Revenue Service has announced that Guy Ficco will become the new IRS Criminal…

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Do I Have to Worry About the Gift Tax If I Give My Son $75,000 Toward a Down Payment?

Unless you have given away more than $13 million in your lifetime, a $75,000 gift…

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Golden Bachelor Wedding Sparks Conversations About Gray Divorce And Its Financial Consequences

On Jan. 4, 2023, 72-year-old widower Gerry Turner and star of ABC's "The Golden Bachelor"…

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How Does the IRS Verify Cost Basis?

The IRS expects taxpayers to keep the original documentation for capital assets, such as real…

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