Failing to report an item of income can often generate an IRS inquiry. Solution? File an amended return. Read all about it in this Tax Tip.
Warning to high income earners: You may be subject to surtaxes on certain wages and investment income. Read more in this Tax Strategist.
Master Limited Partnerships (MLP) are a type of limited partnership that is publicly traded. The advantage of an MLP is that it combines the tax benefits of a limited partnership with the liquidity of a publicly traded company. We explain how MLPs can greatly complicate a tax situation.
IRS2Go is the IRS’ first smartphone application that let’s taxpayers check on the status of their tax refund. Learn more about it in this Tax Tip.