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During this busy tax season, the IRS is reminding individuals how it will and, more importantly, won’t contact taxpayers.

Cryptocurrency and nonfungible tokens (NFTs) are far from interchangeable from a tax perspective. A lack of IRS guidance has left tax experts to speculate on the nuances of how various digital assets may be treated.

Crowdfunding may be used to fund business ideas, help families pay medical bills or raise money for charity, but bear in mind that the income raised by crowdfunding may be taxable.

The IRS issues the 2022 foreign housing cost exclusions. A U.S. citizen or U.S. resident alien living abroad can elect to exclude the foreign earned income and housing cost amount from gross income (subject to limitations).

On March 11, President Biden signed a $1.5 trillion omnibus spending bill into law. The headline is that the bill includes $13.6 billion in aid for Ukraine.

It’s a simple “yes” or “no” question, but you must answer it on your Form 1040 or Form 1040-SR: At any time during 2021, did you receive, sell, exchange or otherwise dispose of any financial interest in any virtual currency?

This tax season, some taxpayers will be shocked to learn that they owe money to the IRS, perhaps because their employer didn’t withhold enough from their wages. But it’s your responsibility to ensure withholding is adequate – we can help.

If you’ve earned income from the gig economy, the IRS is reminding you that those wages are taxable and must be reported.

With tax season well underway, the IRS warns taxpayers to remain on guard when it comes to security. Be especially mindful, says the IRS, of scams involving unemployment benefits.