Explanation Letter to the IRS: Sample, Penalty Abatement, and Filing
Learn how to write an explanation letter to the IRS, from drafting the response and requesting penalty relief to sending it and tracking the outcome.
Section 368 Tax-Free Reorganizations: Types, Tests, and Tax Effects
Learn how Section 368 tax-free reorganizations work, from qualifying structures and judicial doctrines to tax consequences and post-closing reporting.
What Is Annualized Revenue? Formula, Pitfalls, and Uses
Learn how annualized revenue works, from calculating it and spotting misleading projections to comparing related metrics and applying it in practice.
Section 1082 Basis Adjustment: Allocation, Form 982, and Penalties
Learn how the Section 1082 basis adjustment works for corporations after SEC-ordered restructurings, from allocating the reduction to filing and penalties.
Inherited IRA Distribution Rules for Non-Spouse Beneficiaries
Learn how inherited IRA distribution rules for non-spouse beneficiaries work, from opening the account and timing payouts to taxes and missed deadlines.
What Is Form 8332 and How Does It Affect Your Taxes?
Learn how Form 8332 shifts a child's tax benefits from the custodial to the noncustodial parent, from what transfers and filing to revoking the release.
Tax-Exempt Money Market Funds: AMT, NIIT, and Taxable Equivalent Yield
Learn how tax-exempt money market funds work, from the federal and state treatment of their income to comparing after-tax yields and weighing the tradeoffs.
Partnership Buy-Sell Agreement: Structure, Pricing, and Tax
Learn how a partnership buy-sell agreement is structured, from triggering events and buyout formats to how the interest is priced, funded, and taxed.
Does a Stipend Count as Income for Tax Purposes?
Learn how a stipend is treated as taxable income, from the narrow tuition exclusion for students to how it's reported and taxed across different programs.
How Long Do You Have to File a 1099: Deadlines, Extensions, Penalties
Learn how 1099 filing deadlines work, from IRS and recipient due dates through extensions, penalties, and recent threshold changes affecting filers.