 Introduction Tips are taxable income and must be reported to the IRS. Many employees in service industries (e.g., restaurant workers, bartenders, and hotel staff) receive cash tips, credit card...
Introduction The IRS considers cryptocurrency, NFTs, and digital tokens as taxable assets. Taxpayers must report gains, losses, and transactions involving digital assets on Form 1040. Failing to report these...
Introduction When a U.S. citizen or resident alien is married to a dual-status alien spouse, tax filing can be complex. A dual-status alien is an individual who is considered...