April 2023

1. What to Do if You Missed the Tax Day Deadline 2. Deducting Casualty Losses 3. Social Security Wage Base Rises 4. When the IRS Wants to Talk to You 5. The IRS Plan for Spending Audit Money

Will the electric vehicle you have your eye on qualify for the Clean Vehicle Credit?

Are you planning to relocate or downsize your home? The residential real estate market has cooled off in many parts of the country. So, it could make sense to hold off on selling your home. Instead, you might consider converting the property into an income-producing rental. Here are some important tax issues that factor into making such a decision.

The mountain of paper and electronic records that's needed to support your tax return may include receipts, bank and investment account statements, K-1s, W-2s, and 1099s. How long do you need to save these records? Three years is the general rule. But don't be hasty: Failure to keep a paper trail for the information provided on your returns could lead to problems if you're audited.