Category Archives: Individual Taxes

Online Gambling and Payment Accounts Tax Reporting Warning

In a recent court case (Hom, (DC CA 6/4/2014) 113 AFTR 2d ΒΆ 2014-893), a taxpayer’s online payment and poker accounts were found to be reportable under FBAR. All of the accounts were with companies located outside the United States. … Continue reading

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Beware the 3.8% Investment Surtax

Plan now to save yourself from this new tax on investment income. If you meet the income thresholds below and have net investment income, an additional 3.8% tax will be due. This tax went into effect on January 1, 2013. … Continue reading

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