Moving to another state during the year can make tax filing more complicated because you may have tax obligations in both your former state and your new state. In many cases, taxpayers who change states during the year file a part-year resident return for each state, reporting income according to each state’s residency and income-sourcing […]
Article from August 2026
Do I Have To Pay Taxes On FEMA Money?
Natural disasters can create significant financial challenges, especially when a home, vehicle, personal belongings, or other property is damaged or destroyed. If you receive financial assistance from the Federal Emergency Management Agency (FEMA), you may wonder how that money affects your federal income taxes. So, do I have to pay taxes on FEMA money? In […]
IRS Automated Collection System: What You Need to Know
Receiving an IRS collection notice can be stressful, especially when the notice includes unfamiliar terms or references the IRS Automated Collection System. Many taxpayers are unsure what ACS is, why their account is being handled by it, or whether the IRS is about to take more serious collection action. The IRS Automated Collection System (ACS) […]
What is Form 1099-K?
If you sell products online, run a side hustle, accept credit card payments, or receive payments through certain third-party platforms, you may receive a Form 1099-K at tax time. The form can be confusing because the amount listed on it is not necessarily the same as your taxable income. A 1099-K is an IRS information […]
GoFundMe: How are Donations Taxed?
Crowdfunding is the act of funding a project by collecting small donations from a large number of individuals, often online. GoFundMe has become a powerful platform for individuals and organizations to raise funds for various causes. These range from medical expenses and emergency relief to community projects and personal aspirations. However, many users of the […]