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Tax office

Understanding Tax Implications of Gambling

When we decide to make a trip to the casino or to a racetrack on the spur of the moment or on a planned adventure, most people do not spend any time considering the tax implications involved if they actually win. Gambling winnings and losses include raffles, track races, sports betting, lotteries, all casino games, […]

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Is the Postcard Size Tax Return a Reality? 

The amusing proposal of a tax return fitting on the size of a postcard caused me to revisit this   idea because the IRS just released preliminary designs of the new form 1040 and the new schedules  that go with it. The new, shorter form 1040 will essentially replace the previous forms 1040, 1040A,  1040EZ for […]

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