Tax debt can be divided up between the spouses just like other assets and debts in a divorce. However, it’s important to realize that the IRS does not need to comply with your divorce decree when seeking payment of back taxes from a joint tax return. The doctrine of...
Month: January 2019
Understanding Your Cryptocurrency Tax Obligations
Cryptocurrency tax compliance remains a priority for the IRS. Taxpayers are required to treat cryptocurrency as property for tax purposes, which may result in ordinary income or capital from cryptocurrency transactions. Cryptocurrency Tax Treatment Taxpayers who...