57 articles filed under Tax, newest first.
A practical 2026 guide to transfer pricing for US-based multinationals, covering the arm's-length standard, IRS Section 482, Local and Master File documentation deadlines, Section 6662 penalties, APAs, and the common mistakes mid-size companies make.
If you're a foreign national selling US real estate, FIRPTA can trigger a 15% withholding on the gross sales price even when the tax you actually owe is far less. This 2026 guide covers who counts as a foreign person, the buyer's withholding duty and personal liability, the $300,000 personal-residence exception, Form 8288-B withholding certificates, and how to claim a refund of over-withheld tax.
A practical breakdown of the new $6,000 senior bonus deduction for taxpayers 65 and older under the 2025 tax law, including the income phase-out ranges, how it stacks on top of the standard deduction, why it is not the same as tax-free Social Security, and filing mistakes to avoid before the 2028 sunset.
The OBBBA (Pub.L.119-21, effective July 4, 2025) raised the SALT deduction cap to $40,000 for 2025 and $40,400 for 2026, rising 1% annually through 2029. But a 30% phase-down starts at $500,000 MAGI and the cap reverts to $10,000 in 2030. Here's the practical breakdown.
A practical 2026 filing guide to the new federal car loan interest deduction created by the 2025 tax law (OBBBA). Covers who qualifies, the US final-assembly requirement and how to verify it, the $10,000 annual cap, MAGI phaseouts for single and joint filers, why non-itemizers still get it, lender reporting on Form 1098-VLI, and common mistakes.
How the 2025 OBBBA 'no tax on overtime' deduction actually works for tax years 2025-2028: FLSA non-exempt eligibility, the $12,500/$25,000 caps, the MAGI phaseout, W-2 Box 12 Code TT reporting, how it differs from the tips deduction, and common filing mistakes.
How the 2025 OBBBA 'No Tax on Tips' deduction actually works for 2025-2026 tax returns: which occupations qualify, the annual cap, the income phaseout, how it interacts with W-2 Box 7 reported tips, how to claim it, and common mistakes to avoid.
A practical 2026 guide to the step-up in basis rule for inherited assets in the US. Covers which assets qualify, why retirement accounts don't, the community-property double step-up, whether to hold or sell inherited stock and real estate, how it interacts with the federal estate tax exemption, and the mistakes heirs make most often.
A practical 2026 guide to quarterly estimated taxes and the IRS safe harbor rule — who must pay, the four due dates, the 90/100/110 percent safe harbor math, Form 1040-ES, the annualized income method, and how to avoid the underpayment penalty.
A practical 2026 guide to stopping an IRS wage garnishment. Understand the CP504 and LT11/Letter 1058 final notice, your 30-day CDP appeal window, how much the IRS can legally take from your paycheck versus a private creditor, and the fastest ways to get a levy released, including installment agreements, CNC status, and Offer in Compromise.
Currently Not Collectible status pauses IRS collection when paying would cause real financial hardship, but it is not forgiveness. Here's how CNC qualification works, how to request it on Form 433-F, and what still happens to interest, refunds, liens, and the 10-year CSED clock.
A practical 2026 guide to QTIP (Qualified Terminable Interest Property) trusts in US estate planning: how the QTIP election works with the marital deduction, how it interacts with portability and the estate exemption, and how it compares to a simple marital trust or a bypass trust.
A practical 2026 guide to IRS innocent spouse relief: how joint and several liability creates the problem, the three types of relief under Section 6015, who qualifies, how to file Form 8857 and the deadlines, what the IRS weighs, and why claims get denied.
The Trust Fund Recovery Penalty under IRC §6672 lets the IRS collect 100% of unpaid withheld income tax and the employee share of FICA directly from responsible individuals, bypassing your LLC or corporation entirely. Here is who qualifies as responsible, what willful actually means, how the Form 4180 interview works, and how to fight or resolve an assessment.
A practical 2026 guide to resolving back taxes with the IRS, covering installment agreements, Offer in Compromise, Currently Not Collectible status, penalty abatement, innocent spouse relief, the 10-year CSED, and how to avoid tax relief scams.
A practical guide to cost segregation studies for US rental and commercial property owners: how engineers reclassify building components into 5-, 7-, and 15-year assets, typical study costs, bonus depreciation, the Form 3115 catch-up, and the depreciation recapture risk you must plan for before selling.
A 2026 guide to the IRS Offer in Compromise (OIC): who actually qualifies to settle tax debt for less, how reasonable collection potential is calculated, Forms 656 and 433, the application fee and payment options, alternatives like installment agreements, and the mistakes that get offers rejected.
A practical 2026 guide to S-Corp tax savings for US small business owners. How the reasonable salary plus distribution split cuts self-employment tax, the income breakeven where it starts paying off, reasonable compensation audit risk, Form 2553 timing, QBI interaction, and the added payroll and filing costs.
A 2026 guide to the Employee Retention Credit for small-business owners covering the IRS processing moratorium, eligibility under the shutdown-order and gross-receipts tests, PPP interaction, Form 941-X amendments, ERC mill red flags, the withdrawal and voluntary disclosure programs, and audit clawback risk.
A practical 2026 guide to the Section 1031 like-kind exchange: how to defer capital gains and depreciation recapture on investment real estate, the 45-day and 180-day deadlines, qualified intermediaries, boot, identification rules, DSTs, and the mistakes that blow up an exchange.
A practical 2026 guide to the Mega Backdoor Roth: how after-tax 401(k) contributions plus an in-plan Roth conversion or in-service rollover work, the 415(c) overall limit framework, whether your plan qualifies, the pro-rata trap, a step-by-step process, who it fits, and the common mistakes.
A practical 2026 guide to the QSBS Section 1202 capital-gains exclusion: C-corp and original-issue rules, the gross-assets cap, the five-year holding period, qualified trades, the greater of $10M or 10x basis exclusion, the 2025 OBBBA tiered changes, stacking, Section 1045 rollovers, and the mistakes that blow it up.
A plain-English 2026 guide to reporting crypto taxes to the IRS. Learn how capital gains and ordinary income differ, how the new Form 1099-DA broker reporting works, cost basis methods and the wallet-by-wallet rule, Form 8949 and Schedule D, staking and mining income, plus the mistakes that trigger penalties.
A practical guide to Real Estate Professional Status under IRC Section 469 — the 750-hour and more-than-half tests, material participation, aggregation elections, spousal rules, documentation, and the audit traps that sink most REPS claims.