The classification of workers in the United States as either 1099 (independent contractors) or W-2 (employees) has significant implications for both parties involved. Understanding these differences is vital for contractors and employers to ensure tax and labor law compliance. This article will ...
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Nonfungible Tokens (NFTs) have gained immense popularity in recent years as unique digital assets that can be used to certify ownership and authenticity of associated rights or assets. However, the tax treatment of NFTs remains uncertain, which has raised concerns for taxpayers, tax professionals, ...
The case of United States v. Colliot (2018) involves Dominique G. Colliot, a U.S. taxpayer who failed to file the required FBARs for his foreign bank accounts. The Internal Revenue Service (IRS) assessed penalties against Colliot for both non-willful and willful FBAR violations. Colliot contested ...
The Discount Window lending is at levels not seen since the Great Recession, with banks borrowing billions of dollars in order to shore up their balance sheets and maintain sufficient liquidity.
The Internal Revenue Service (IRS) has embarked on a digital transformation journey to streamline tax processing and improve efficiency. The Internal Revenue Service (IRS) has announced the commencement of its new Digital Intake initiative, aimed at modernizing and streamlining the tax processing ...
What is a Clean Vehicle Credit?
California Tax Basis Capital Accounts Reporting
Evolved, LLC has recently undergone an exciting rebranding effort, and we are thrilled to unveil our new look and feel. Our new website, evolvedtax.com, showcases our refreshed brand identity and updated offerings. In this blog post, we’ll take a closer look at our rebranding journey and what it ...
As the end of the year approaches, taxpayers look at their portfolio of investments and attempt to understand the applicable tax rules. One of the most researched topics is taxation of cryptocurrencies — virtual currencies that act a medium of exchange and can either increase or decrease in value. ...
The time has come to check all the boxes and get your company ready for a quick and smooth filing as Form 1099 filing season approaches in January.