Billions in Unpaid Taxes Due to Unreported 1099-K Income
IRS Plans to Contact Businesses and Individuals Who Are Not Reporting 1099-K Income
Recently, the Treasury Inspector General for Tax Administration (TIGTA) advised the Internal Revenue Service (IRS) that it was losing billions of dollars in tax revenue due to unreported and underreported 1099-K income. A report released on December 30, 2020, explained the methods […]
Who Qualifies for Tax Extensions in California?
Most people are looking for a way to reduce their tax bill, but it can be daunting to figure out how to minimize tax liabilities without getting on the IRS’ radar. Despite the similar terms, tax avoidance and tax evasion have key differences that can help individuals and families make the best financial decisions for their situation.