Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the
When an IRS letter arrives, taxpayers don’t need to panic, but they do need to read it
Getting a letter from the IRS can make some taxpayers nervous – but there’s no need to panic. The IRS sends notices and letters when it needs to ask a question about a taxpayer’s tax return, let them know about
Filing a final federal tax return for someone who has died
After someone with a filing requirement passes away, their surviving spouse or representative should file the deceased person’s final tax return. On the final tax return, the surviving spouse or representative should note that the person has died. The IRS doesn’t need