Taxpayers often run into tax difficulties figuring how to report their gambling winnings and losses. This is because gambling winnings are fully taxable, while gambling losses aren't simply offset against the winnings. Briefly, your winnings must be reported on the “other income” line on the front page of your tax return. To measure your [...]
One of the negative aspects of buying a new car is the annoyance involved with getting rid of your old car. Many individuals find the trade-in allowance offered by dealers (if any) to be well below the car's true value. But the alternative of selling the car on your own involves the expense of [...]
For 2016, the IRS, the states and the tax industry joined together to enact new safeguards and take additional actions to combat tax-related identity theft. Many of these safeguards will be invisible to you, but invaluable to the fight against these criminal syndicates. The IRS is aware identity theft is a frustrating process for [...]