The documents contain details that were not previously public, such as loans he gave to his children, income from book royalties and Melania's modeling, and how much of his presidential salary was given to charity. Dec 30, 2022 Don't bank on getting your tax refund quickly, IRS cautions...
Accuracy-related penalties The IRS can impose an accuracy-related penalty if you underpay the amount of tax you legally owe for example if you don’t pay enough tax because you claimed a tax deduction for which you’re not eligible. To determine if you qualify for reasonable cause relief fr...
Ongoing inflationhas forced a lot of Americans to tighten their belts: More than a third (37%) of taxpayers expecting refunds say they’ll use at least some of it to cover necessities like rent and groceries. Another 34% hope to pay down credit cards, student loans, medical bills and oth...
Interest (if included) Debt description Whether you are personally liable for the debt (recourse loans) Identifiable event code (such as bankruptcy, foreclosure, etc.) Fair market value of the property Where to get 1099 forms? You’ll get a 1099 from the person who paid you. Some entities ...
TheRhode IslandSenatepassed a bill requiring five years oftax returns from presidential and vice presidential candidatesto stay on state ballots. While some senators state that releasing tax returns would disclose any possible conflicts of interest, others think this is unnecessary if Rhode Island lawma...
The Paycheck Protection Program allows loans of up to $10 million at 1% interest to employers with fewer than 500 workers to cover two months of payroll and overhead. If you keep your workers and do not cut their wages, the government will forgive most or all of the loan and even repay...
However, this rule doesn’t prevent you from reporting mortgage interest, real estate taxes, and casualty losses on Form 8829 and claiming the Standard Deduction. If you do itemize, you have to divide these expenses into the “business portion” (the amount related to the ...
Loans forgiven: Any forgiven loans you have received from the federal government or a private company must be reported as income on your tax return. You do not have to report any loans from relatives or friends since they are considered gifts. ...
Insurance Issues is a new column making its debut in the JofA this month. It will provide regular coverage of insurance-related subjects of interest to CPAs, their clients and employers. or more than four decades, split-dollar plans have been a popular w
"Lord Mountbatten put up the money for court battles against Anastasia. Although he was Empress Alexandra's nephew, he was the guiding force behind Anastasia's opposition." The Battenbergs, or Mountbattens, were also related to the Rothschild family. They did not wish to see the Cz...