The IRS in 2014 classified all virtual currencies as property for tax purposes, meaning the assets -- much like a home -- can be sold at a profit and trigger tax implications. Taxpayers who haven’t been notified by the IRS and may have underpaid or avoided taxes for cryptocurrency transactions still could seek some relief by coming forward before the IRS finds them.
Do you consider not paying taxes “sport?” The President of the United States says he does. And that raises serious concerns about the stability of our voluntary tax system.
For the first time since the early 1980s, tuition inflation is lower than the rate at which consumer prices are rising, according to a new research paper from S&P Global Ratings.
If you are considering making a sizable gift to a family member such as a partial interest in the family business, how you structure the transaction can have a meaningful impact on the success of the transfer, minimizing taxes, and the control you have even after making the gift.