everyday tax | explained
It’s fair to say that here at Briefly Taxing, we live and breathe tax law. There are other folks out there (so we’ve been told) that have other, less esoteric and acronym-driven interests. It is for the rest of you (which is to say, the majority of the civilized world) that we has created a series of articles called Taxing, Briefly. These posts adopt a much broader, less technical approach to current tax issues.
It goes without saying (but I’m a lawyer, and I can’t help saying it), but these articles are no substitutes for legal advice. If you have a question about what you read, reach out to us, or bug your number-crunching Cousin Leroy, the family’s token CPA.
These articles are only as good as the questions we’re asked by you non-taxish people, who (apparently) far outnumber your tax nerd kith and kin. So, if you have a question, drop us a line by clicking the button below.
Our most recent Taxing, Briefly Articles
I met a new client about a month ago. I was excited. It was the first in-person meeting I’d had for over a year due to COVID. The client had settled a lawsuit, and the settlement income—though taxable—had been reported incorrectly on her Form 1099-MISC, so that the IRS got
The Basic Principles of the IRS Collection Process In our previous post, we discussed how audits are performed and your available options throughout the examination process. Once the audit is complete, and all administrative and legal remedies are exhausted, how does the IRS actually collect taxes? The first step in
Like Ten Thousand Spoons When All You Need is a Knife Do you feel like you are cursed to forever draw the short straw in life? Is Alanis Morrisette’s Ironic more of a personal anthem than an indictment of the Canadian educational system’s failure to properly differentiate between irony and
Harsh Truths Taxing social media influencers? Way harsh, we know. Influencers have it tough anyhow, what with having to photograph everything they eat, or wear, or sneeze on. Nevertheless, your fearless editors at Briefly Taxing thought it prudent to discuss some harsh truths about getting your money for nothing (and
In the 36 years I have been on this mortal plane, I can’t remember ever thinking I was, as the kids say (or said in the 1990s) hip. In full candor, the only time your fearless editor uses the word is when I explain to my sprightly wife that my
If you are a U.S. citizen or resident with interests abroad, whether in a bank account, in an entity, or in other financial assets, then it is very likely that you must report these interests to the U.S. government each year. If you have not done so, the penalties can