IRS Form 433-B Instructions: Assets, Income, and Submission
Learn how to fill out IRS Form 433-B, from choosing the right version and gathering records to reporting business assets, income, and submitting the form.
Joint Bank Account Taxes When You’re Not Married
Learn how joint bank account taxes work when you're not married, from who reports the interest to gift questions on withdrawals and what happens at death.
501(c)(7) Organization: Requirements, Income Tests, and Taxation
Learn how a 501(c)(7) organization qualifies as a tax-exempt social club, from membership and income rules to taxation, filings, and losing exempt status.
How Are Option Premiums Taxed When Bought or Written?
Learn how option premiums are taxed for buyers and writers, from contract outcomes through holding period rules to the special treatment of index options.
Positive vs. Negative Assurance: When Each Is Required and Why
Learn how positive vs negative assurance differs across audits and reviews, from when each level is required to their cost and liability tradeoffs.
What Are Non-Qualified Accounts? Taxes, Titling, and Drawbacks
Learn how non-qualified accounts work, from how earnings and losses are taxed to titling choices, estate treatment, and the tradeoffs to weigh.
Gross Revenue Meaning: Formula, Net Revenue, and Tax Rules
Learn how gross revenue works, from calculating the top line and deciding what counts to comparing it with related measures and its role in tax rules.
Corrective Distributions: Causes, Taxes, and 1099-R Codes
Learn how a 401(k) corrective distribution works, from the reasons plans issue refunds to how the money is taxed, reported, and prevented going forward.
Section 743(b) Adjustment on K-1: Codes, Reporting, and Records
Learn how a Section 743(b) adjustment on a K-1 works, from the codes that carry it to personal return reporting, ongoing tracking, and recordkeeping duties.
What Box Is Severance Pay Reported on a W-2? Boxes 1, 12, and 14
Learn where severance pay is reported on a W-2, from the wage and tax boxes it flows into to coded benefits, state reporting, timing, and fixing errors.