It’s a traumatic experience to lose a spouse. While there is little that can be done to replace this physical and emotional loss, the Tax Code provides some relief for newly widowed taxpayers. Here is a summary of some of…
Some deductions like charitable contributions are conducive to tax fraud. These tax-related events are subject to the utmost IRS scrutiny. Therefore, taxpayers are subject to very detailed rules which require them to produce a specified form of documentation as proof…
Employers are required to withhold federal income and payroll taxes from their employees’ wages for payment of payroll taxes such as federal income taxes and FICA (Federal Insurance Contributions Act) taxes, which are held in trust until the employer makes…