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5 Things You Should Know Now About IRS Form 3520

The 2023 tax filing season is in full swing. Taxpayers and tax preparers are currently…

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When and How to Report a 1031 Exchange on Your Tax Return

A 1031 exchange allows certain real estate investors to defer capital gains taxes when selling…

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I’m Selling My House to Downsize for Retirement, and I’ll Net $620k. Do I Have to Pay Capital Gains Taxes?

When you sell your primary home, the IRS allows you to exclude a significant portion…

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Gearing Up For The 2025 Energy Tax Debate

The guidance implementing the energy tax credits in the Inflation Reduction Act is not yet…

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How to Avoid Prohibited Transactions With Your Self-Directed IRA

A self-directed IRA is a retirement savings plan that allows you to decide what investments…

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Federal Court Grants Summary Judgment Motion On Willful FBAR Penalty

Litigation in federal court is analogous to a game of chess. Although each side has…

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How to Receive Charitable Tax Deductions

Every year, charitable individuals and households make one saying a reality when they make a…

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Government Files Notice Of Appeal After Corporate Transparency Act Deemed Unconstitutional

(Author’s Note: Edited to reflect Statement from the Treasury.) You knew it was coming: the…

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Who Is Eligible for the Earned Income Tax Credit (EITC)?

The earned income tax credit can provide substantial financial benefits for low-income working individuals and…

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DOJ Alleges Decades-Long Tax Scheme To Hide Foreign Assets From IRS

On March 11, 2024, the Department of Justice (DOJ) announced that a Florida man had…

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