In 2014, the IRS issued guidance explaining that virtual currency is treated as property for income tax purposes. It stated that tax principles applicable to transactions involving other types of property apply to virtual currency. In the last two years, the…
It’s 2023 and a new year means it’s tax filing season. As taxpayers, we need to take some key steps as we prepare to file our 2022 federal tax returns. While some useful tax tools are no longer available, many…
If you are a taxpayer, you are required to take annual Required Minimum Distributions (RMDs) from your IRA and retirement plans when you reach age 72. Every year as the new year begins, the IRS reminds us that if you…