As the year comes to a close, many taxpayers consider making clothing and household item donations both to give back and to optimize their tax deductions.
Recent cases, like the one involving Duncan Bass, underscore the significance of understanding and adhering to IRS regulations related to these contributions.
As tax time approaches, here are some tax issues that taxpayers frequently overlook, ranging from obscure deductions to overlooked tax credits and benefits. Of course, not everything can be included since the tax law has grown significantly in complexity, and it would take a thick book to list everything.
Recently, the Internal Revenue Service (IRS) has markedly intensified its efforts to uncover instances of tax evasion, leaving no room for tax dodgers to go unnoticed. A striking case that serves as a stern reminder of this heightened scrutiny involves Dr. Fares J. Rabadi, a dedicated physician based in Los Angeles. Dr.