Although the IRS does not subject a large number of tax returns to an audit, they are more likely to pay close attention to your situation if they notice certain things about your return. Therefore, it is in your best…
When the IRS sends you a Form 4564 IDR, it does not necessarily mean you are automatically facing a penalty. What it does mean is that the IRS is looking into your tax return and wants to receive more information…
Yes, if your side gig qualifies as a genuine business (with a profit motive) and meets both federal and New York State rules for deducting losses. That means you must show that your expenses directly relate to an active, profit-seeking…