The business owner treated company bank accounts like personal accounts. When the records did not explain the deposits, the IRS reconstructed the income. Here is what the case teaches small-business owners about mixed funds, missing records, and proving that a deposit was not taxable.
Still holding your Opportunity Zone investment? The original deferred gain may become taxable for 2026 even without a sale. Here is what investors should review now and what to consider if the resulting tax bill is difficult to pay.
Federal taxes come out of every paycheck, so an unexpected request for estimated tax payments can be confusing. Learn why W-2 employees may still need to pay during the year, how underpayment penalties arise, and what to do if a payment was missed.
Company cars, gift cards, meals, phones, and other employee perks can create payroll problems when they are treated as tax-free without checking the rules. Here is what employers should know, what records matter, and what to do if the IRS has already raised questions.
You returned from deployment and found an IRS notice waiting at home. Before assuming you missed your chance, learn how military deadline relief may apply and what you should check next.
You have made every monthly payment on your old IRS balance. Then one missed estimated tax payment leads to another tax bill. Here is how new debt may affect your IRS agreement and what you can do next.
IRS Form 433-B asks for more than a basic profit-and-loss statement. Learn what business owners may need to disclose, which records to gather, and how the IRS may use the financial information.
Mike owed the IRS $48,000 when an ad promised he might settle for a small fraction of the balance. His story shows what Offer in Compromise ads may leave out and what taxpayers should check before paying a tax-relief company.
A recent Tax Court case shows how side hustle tax deductions can become an IRS problem when personal spending, weak records, and questionable marketing expenses appear on Schedule C. Learn what the court allowed, what it rejected, and how to protect your business deductions.
You donated to an NIL collective supporting college athletes and local charities. Can you deduct that payment? A 2026 IRS ruling shows why the answer depends on the organization’s tax status, who really benefits, and what you received in return.
