Tax Tips & More
Form 1099-DA is Here - How will it Impact Your Crypto Taxes?
After four years of work, the IRS has finalized its cryptocurrency regulations, and crypto tax reporting now begins. Starting with the 2025 tax year, custodial crypto platforms must report taxable crypto transactions directly to the IRS.
Beat the OBBBA/TCJA Rules that Punish Dog Breeding Hobbies
Are you involved in a dog breeding business or considering starting one? If so, you are in the IRS’s crosshairs. The IRS has long considered dog breeding to be an activity typically classified as a hobby, rather than a business, for tax purposes.
Beware of UBIT Lurking in Your IRA - It Causes Double Taxes
If your IRA makes alternative investments, it may be subject to a special tax called the unrelated business income tax (UBIT)—and that’s true even if it’s a Roth IRA.
Got IRS Penalties? Know the Rules, Pay Nothing
The IRS often imposes steep penalties for filing tax returns late, failing to pay taxes on time, or not depositing employment taxes correctly. However, several strategies can help you get those penalties removed—and in some cases, even refunded if you have already paid them.
How Long Does the IRS Have to Audit Your Returns?
Nobody wants to spend their whole life looking over their shoulder, wondering if the IRS will audit them. Luckily, there is a statute of limitations on IRS audits and tax assessments.
Ouch! The Estimated Tax Penalty is at a 16-Year High
Due to the rise in interest rates, the current penalty rate is 8 percent—the highest in 17 years. And since it’s not deductible, the net cost likely far exceeds 8 percent.
Best Practices When E-Filing Returns
Avoid future problems by following these best practices for e-filing.
Common Mistakes in Tax Preparation
Avoid errors that can occur when preparing tax returns by learning these common mistakes.
What Are Your Chances of Being Audited?
These red flags could increase your chances of the IRS selecting your return for audit.
April 2026 Tax Due Dates
April 1: First required minimum distribution (RMD) by individuals who turned 73 in 2025
April 10: Tips for March 2026 reported to employer
April 15: 2025 tax return and pay tax due
April 15: File Form 4868 to request six-month income tax return filing extension (payment of tax not extended)
April 15: File Schedule H (1040) and pay employment taxes for household employees (file separately if Form 1040 is not filed)
April 15: Estimated tax payment for first quarter of 2026
April 15: Contribute to individual retirement account (IRA) for 2025
April 15: Withdraw excess IRA contributions in 2025 to avoid penalty if filing of form 1040 was not extended
April 15: Contribute to health savings account (HSA) for 2025
April 15: Contribute to solo 401(k) plan or simplified employee pension (SEP) plan for 2025 by self-employed if filing of form 1040 was not extended
April 15: File 2022 tax return (Form 1040) to request unclaimed tax refund for the 2022 tax year
May 2026 Tax Due Dates
May 11: Tips for April 2026 reported to employer (Form 4070)
May 15: Deadline for certain tax-exempt organizations on a calendar-year basis to file Form 990 series
June 2026 Tax Due Dates
June 10: Tips for May 2026 reported to employer
June 15: Estimated tax payment for 2nd quarter of 2026
June 15: U.S. taxpayers living and working abroad file 2025 tax return
June 15: U.S. taxpayers living and working abroad file Form 4868 to request four-month income tax return filing extension (payment of tax not extended)
June 15: Military personnel on duty outside the U.S. file 2025 tax return
June 15: Military personnel on duty outside the U.S. file Form 4868 to request four-month income tax return filing extension (payment of tax not extended)