Each wager must be reported separately andyou can't deduct losses from your gambling incometo lower how much you declare. For example, if you lost $600 on a college basketball game but, four months later, won $1,000 on another game, you can't just report the $400 difference. You'd ...
unfortunately, has no such exception. In fact, when you lend a friend or family member money, you might even have to report more interest than you actually collect on your tax return.
most people and corporations are required to pay taxes in the united states. taxes may be imposed by federal, state and local governments. the irs—or internal revenue service—is a government agency that enforces tax laws and collects federal taxes. why do people have to pay taxes and what...
While the government aid is helping many of them weather the coronavirus recession, they'll also have to pay taxes on those benefits — an issue that many might be unaware of. Almost 1 in 3 people who are receiving unemployment wrongly believe they don't have to pay taxes on the ...
Why should people pay taxes when, given relatively low audit probabilities and penalties, evasion should be extremely attractive, at least to expected utility maximizers? This is puzzling, given “too much observed compliance” relative to the predictions of expected utility theory. This paper conside...
Thousands of military contractors are stationed overseas, supporting US military personnel around the world. If you are a military contractor, you probably have questions about your US tax obligations. What tax deductions can you claim as a military contractor? Do you have to pay taxes at all?
Self-employed taxpayers likely need to pay quarterly tax payments and meet key IRS deadlines. Here’s a closer look at how quarterly taxes work and what you need to know when filing your tax returns.
Many employees can now do their work from home using modern technology. However, this change may only benefit workers, not the employers. To what extent do you agree or disagree? Give reasons for your answer and include any relevant examples from your own knowledge or experience. Write at lea...
however, assuming that theirtax homehas shifted to the U.S. They include nonresident alien students, scholars, and employees of foreign governments and international organizations.2Dividend income is subject to taxes if the income is from a U.S...