You must file IRS Form 730 and pay taxes on wagers if you:• Are in the business of accepting wagers (this form is NOT for individuals placing wagers, it is for entities accepting wagers).• Conduct a wagering pool or lottery.• Are required to be registered and you received wagers for or on behalf of another person but didn’t report that person’s name […]
Category Archives: Tax Advice
Don’t Make These International Tax Blunders When Working Abroad
Taxation can be expensive. Double taxation can be brutal. Be sure to claim your tax credit when filing an international tax return!
IRS Cautions Taxpayers: Beware Of Ghost Preparers
As tax season ramps up, “ghost preparers” are busy scamming taxpayers. Ghost preparers are unethical tax return preparers that prey on people not through intimidation, but through trust. Federal law states anyone…