Local and state governments sell municipal bonds to investors to help fund public projects like repairing a public park or building a new school. While municipal bonds pay tax-free...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/27/2023
Investing in securities is a common way for individuals to grow their wealth. However, not all securities are created equal, and some investments may be classified as prohibited securities....
Posted by Rosovich & Associates, Inc. on 05/16/2023
An OID also known as original issue discount is a debt instrument with a lower value compared to the time it was bought. The investor receives the face value after maturity with interest...
Posted by Rosovich & Associates, Inc. on 04/21/2023
Form 8949 is a tax form individuals use to report the sale or exchange of capital assets, such as stocks, bonds, mutual funds, and real estate. The form calculates and reports any...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 03/14/2023
The tax year is here again, and people should expect fake IRS letters from scammers. Since Uncle Sam is sending out bills or notices to taxpayers, many scammers are exploring this...
Posted by Rosovich & Associates, Inc. on 09/02/2022
Identity theft is not limited to criminals opening credit cards and collecting debts in your name - your return is also at risk. While the IRS works hard to combat fraudulent returns,...
Posted by Rosovich & Associates, Inc. on 07/09/2022
Most tax practitioners are familiar with reasonable cause as the basis for penalty abatement. But many often overlook another important reason for penalty abatement: the so-called...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/27/2022
American businesses of all sizes have a number of financial information that must be organized and reported to comply with legal obligations, such as tax requirements. Various professions...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/01/2022
We totally get it. People with thousands and millions of dollars sometimes like to hide their money abroad.Of course, the government disapproves of tax evasion. After the financial...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/27/2021
