You need to consult a CPA who is familiar with both IN and IL state income taxes. In the alternative consult 2 CPA's ---- one in IL and another...

YES. Your winnings will be reported to IRS on a Form 1099-G. IRS will expect to see that amount reported to them on your income tax return.

Be careful about dabbling in matters where you have no experience. If you are going to expand your services to include payroll, make sure you...

The gift tax exclusion for 2023 is $17,000, so your "elderly parent" would not be required to file a gift tax return for this. Besides, even if...

Ask your employer to recommend a CPA who is familiar with these allocation issues and hire him/her to prepare your income tax return. Your will...

Before you go suing people, check your daughter's bank statement to see whether her paycheck was actually deposited. Her account could be...

Agree with Mr. Cowan. Not sure that either filing or extending your 2023 income tax return looks better or worse to IRS. If IRS contests the...

You incurred a penalty because you did not pay enough estimated tax payments for 2023. There are a number of "safe harbors" for the estimated...

The transfer is either a gift or payment for services --- income. If income, then you report it on your income tax return. If a gift, then the...

Spousal support payments are no longer tax deductible. And they do not count as income for your spouse.