Form W-2G – DougFreemanCPA.com

Businesses may receive notices about information returns that don’t match IRS records

(TIN) Taxpayer identification Number, Financial Institutions, Internal Revenue Service (IRS), Matching IRS Records, Small Business, Tax Return / Douglas Freeman

The IRS has begun mailing notices to businesses, financial institutions, and other payers that filed certain returns with information that doesn’t match the agency’s records. These CP2100 and CP2100A notices are sent by the IRS twice a year to payers who filed information returns that are missing a Taxpayer Identification Number (TIN), have an incorrect […]

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The tax score of winning

Deductions, Estate Planning, Federal Income Tax, Gambling Taxation, Income Tax, Individual Income Tax, Itemized Deduction, Tax / Douglas Freeman

Studies have found that more people are engaging in online gambling and sports betting since the pandemic began. And there are still more traditional ways to gamble and play the lottery. If you’re lucky enough to win, be aware that tax consequences go along with your good fortune. Review the tax rules. Whether you win

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The tax implications of being a winner

Deductions, Documentation, Doucment Retention, Federal Income Tax, Gambling Taxation, Income Tax, Individual Income Tax, Internal Revenue Service, Itemized Deduction, Tax, Tax Deduction, Tax Planning, Tax Record Retention / Douglas Freeman

If you’re lucky enough to be a winner at gambling or the lottery, congratulations! After you celebrate, be ready to deal with the tax consequences of your good fortune. Winning at gambling. Whether you win at the casino, a bingo hall, or elsewhere, you must report 100% of your winnings as taxable income. They’re reported

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