Watch Out for Child Identity Theft January 25, 2016
With tax season underway, many of us are concerned about tax ID theft. With major data breaches in the last year, including Scottrade, Anthem, T-Mobile, and even the IRS, the concern about identity (ID) theft is big. From January 25 – 29, 2016, the FTC is hosting a Tax Identity Theft Awareness Week that aims to educate consumers about what to look for and what to do when they become victims. It is important to understand child identity theft is real too.
3 Things You Should Know About the 1099-K January 19, 2016
It’s been a handful of years since the introduction of the 1099-K form from the IRS, and there is still confusion about how it should be handled. Even with the instructions from the IRS, many people don’t understand how to manage it, and that has led to headaches at tax time.
Winning the Powerball Jackpot: What You Need to Know About Taxes January 12, 2016
When the Powerball prize pot reaches epic proportions (currently, it’s sitting at $1.5 billion), we all start to dream big. Whether you go to the convenience store and buy a ticket, or whether you shake your head at those who do, the reality is that you’ve probably thought about what you’d do if you won all that money.
IRS Proposal for Charitable Donations Raises Outcry December 11, 2015
Recently, the IRS offered a new proposal for substantiating charitable donations. Right now, charities can simply send an appropriate letter thanking the donor for the gift, or offer a receipt for the gift (especially important for donations of goods).
What to Look for in This Year’s Tax Extenders Bill October 28, 2015
It’s become a yearly ritual: Toward the end of the year, members of Congress put together a bill designed to extend tax breaks that have expired.
