Tax Blog
The IRS will begin accepting individual tax returns on January 29th. If you are looking to file your return as early as possible, there are a few things to remember:
Now that the end of the year has passed it’s important to focus on the upcoming tax deadlines.
As the end of the year approaches, it is important to revisit your 2023 gambling activity and determine if there are any additional tax strategies available to reduce your tax liability.
I was invited by Gina Fiore from Unabated to discuss the tax implications of filing as a recreational sports bettor.
The IRS announced that the proposed $600 threshold for 1099-Ks will not be implemented in 2023.
The IRS allows an income tax deduction for charitable contributions to qualified organizations. You must itemize to take advantage of the deduction
At the end of 2022, the IRS announced it was delaying the implementation of the new 1099-K reporting requirement.
Kraken announced, in order to comply with a court order, the exchange will provide information directly to the IRS surrounding certain users and transactions.
Beginning in 2024, entities that are formed or registered to do business in the U.S. must comply with the Corporate Transparency Act (CTA).
As September and October roll around, my focus turns to the upcoming tax filing deadlines. But, for gamblers, this time of year usually means one thing.
The last few months have seen multiple threats to taxpayer’s personal data. First, Congress announced that H&R Block, TaxAct and TaxSlayer shared sensitive
We are almost a month away from the October 16th extension deadline. While this is mostly acknowledged as the extended
A congressional report released earlier this summer confirmed H&R Block, TaxAct and TaxSlayer shared sensitive taxpayer data with Meta and Google.
Today marks the first day of the EPT Barcelona poker series. Although the tournament is poised to see record numbers
The legality of online pick’em sites (such as PrizePicks and Underdog) is back in the news this week.
As the WSOP comes to a close, two poker players ended up losing money in an unexpected fashion
As the WSOP comes to a close, two poker players ended up losing money in an unexpected fashion. We will focus on the first of those players today.
The Powerball jackpot will be over $1 billion when drawn later today. This is the 5th time in the last two years that a lottery jackpot has grown
In March, the IRS released Notice 2023-27, which announced the intention of issuing guidance related to the taxability of non-fungible tokens (NFTs).
As of the first week of June, North Carolina and Vermont became the 37th and 38th states to legalize sports betting.
Although it’s been almost two months since the April 18th deadline, I know there are many people who have yet to pay the tax owed
The U.S. Tax Court recently released a ruling against a Nevada couple, claiming the substantiation they provided was insufficient to deem
The 2023 WSOP kicks off today with the Casino Employees event. You may be heading to Vegas for the Mystery Millions event
Six months ago, the IRS was facing record-long processing times and it was nearly impossible to speak to an IRS representative on the phone.
The IRS released its 2022 Criminal Investigation Annual Report. In it, the Criminal Investigation division announced the implementation
Earlier in the year I outlined the 2023 outlook for the legalization of sports betting. Kentucky proved to be the first state from the list to take action
The 2023 World Series of Poker is only a month away. It came as a surprise to many that single-table satellites will no longer be offered
West Virginia joined the ranks of favorable states for gamblers last week, as it adopted a new law that will allow residents to deduct gambling losses
Earlier this year, I touched upon the Bittner case, which addressed the maximum penalty for non-willfully filing FBARs. Is it $10,000 per year?
An Ohio resident was sentenced to two years in prison for her role in defrauding the government. Over the course of five years, she filed false tax returns