Let's pick up the thread of a two-part post we began earlier this spring on the taxation of cancelled debt from a home mortgage.The general rule of course is that a cancelled debt is considered taxable income. But as we explained in our March 5 post, the Great...
This is a follow-up to a post we did last winter on filing requirements for foreign assets and income.As we noted earlier, there are actually two sets of filing requirements that can come into play. The first set involves checking the appropriate box and filing Form...
If you are a small business owner, the bank account you use for your business is vital to you. Day by day, the transactions that occur there are like your life bloodIt is therefore obviously a huge problem when the IRS seizes that account, contending that there has...
