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Taxpayers who engage in the gig or sharing economy, (Uber, Lyft, TaskRabbit, AirBnB, etc.) and others classified as independent contractors have different federal tax responsibilities than someone classified as an employee. Generally, once a taxpayer receives a Form 1099-NEC or...

Understanding the basis tax implication of cryptocurrency transactions can help individuals avoid issue with the IRS. There are three common transaction cycles with cryptocurrency: a Purchase-Sell Cycle, a Payment-Sell Cycle, and a Purchase/Payment-Exchange Cycle. Each transaction cycle has its own...

In 2009, the Internal Revenue Service (IRS) opened up the Offshore Voluntary Disclosure Program – commonly abbreviated OVDP – as a means of encouraging willful violators who run the risk of criminal prosecution to safely come clean with their overseas...