What If You Make Less Than the Standard Deduction?
Learn what happens if you make less than the standard deduction, from filing requirements to refundable credits and claiming past refunds for free.
Can You Claim Your Child on Taxes If They’re in Foster Care?
Learn how claiming a foster child as a dependent works, from the IRS qualifying tests and paperwork to the credits and filing status it can unlock.
Forgot to File FBAR: Penalties, Streamlined, and DFSP
Learn how to recover if you forgot to file an FBAR, from potential penalties to the IRS compliance programs that can bring you back into good standing.
Critical Illness Payouts: Taxable or Tax-Free?
Learn how critical illness insurance payouts are taxed, from premium sources and reporting requirements to deductions and effects on other benefits.
What Is April 15 Tax Day? Filing, Extensions, and Penalties
Learn how April 15 Tax Day works, from the filings and payments due to extensions, missed-deadline consequences, and when state rules shift the date.
In-Kind Distribution From an IRA: Taxes, Penalties, and RMDs
Learn how an in-kind IRA distribution is taxed, from fair market value and account type through penalties, withholding, RMD use, and rollover limits.
Testamentary Trust Taxation: Brackets, Distributions, and Filing
Learn how testamentary trust taxation works, from compressed brackets and beneficiary distributions to filing the fiduciary return and state obligations.
Outside Services Definition: 1099-NEC, W-9, and Contractor Rules
Learn how outside services work for U.S. businesses, from classifying contractors and avoiding misclassification to tax reporting and booking these costs.
Why Is Alimony No Longer Tax-Deductible: Cutoff Date and State Rules
Learn why alimony is no longer tax deductible, from the cutoff date and impact on both spouses to modifications, permanence, and state tax treatment.
Pensions Under the US-UK Tax Treaty: Lump Sums, QROPS, and FBAR
Learn how pensions work under the US-UK tax treaty, from growth and distributions to lump sums and transfers, alongside the US filings that come with them.