The Supreme Court recently ruled in Bittner vs. United States that federal law prescribes that maximum penalties for the non-willful failure to file a report are calculated per report, not per account. In Bittner, the Court was tasked with interpreting the…
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 unfiled tax returns new york. While some useful tax tools are no…