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What is a tax rate reconciliation?

A rate reconciliation (RR) is a calculation prepared in the determination of arriving at an effective tax rate for Federal purposes. It has several parts ...

Aug 01, 2026 • 1 READS

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How are capital gains taxed on the sale of land?

Profits on the sale of land can be taxed at many different rates. The Internal Revenue Service assesses capital gains tax on almost anything you sell at a...

Aug 01, 2026 • 1 READS

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How much of a commercial property is rental?

Rental income: Typically, a business that buys commercial property occupies at least 51% of it. This is because lenders classify the real estate as an inv...

Aug 01, 2026 • 1 READS

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Is a relocation bonus taxable income?

The short answer is “yes”. Relocation expenses for employees paid by an employer (aside from BVO/GBO homesale programs) are all considered taxable income ...

Aug 01, 2026 • 1 READS

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Can an S Corp report a loss?

Assuming you actively participate in the operation of your S corporation and you’re not merely a passive investor, if your S corporation suffers a loss in...

Aug 01, 2026 • 1 READS

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What is Box 14 A?

Line 14A – Net Earnings (Loss) from Self-Employment – Amounts reported in Box 14, Code A represent the amount of net earnings from self-employment. For Li...

Aug 01, 2026 • 1 READS

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How do you find out where I did my taxes last year?

Order a Transcript Online Using Get Transcript. They can use Get Transcript Online on IRS.gov to view, print or download a copy of all transcript types. B...

Aug 01, 2026 • 1 READS

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Is the IRS still using the e file pin?

After the April filing deadline, the IRS announced it was closing its e-filing PIN service in June 2016. While shuttering the e-file PIN program means you...

Aug 01, 2026 • 1 READS

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What is Box 12 on a W-2 form?

The W-2 box 12 codes are: A — Uncollected Social Security or RRTA tax on tips. Include this tax on Form 1040 Schedule 2, line 8, check box c and identify ...

Aug 01, 2026 • 0 READS

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When does the IRS file a federal tax lien?

The good news is that the IRS cannot just file a Notice of Federal Tax Lien (NFTL) without any warning or notice. Several things must first occur before a...

Aug 01, 2026 • 1 READS