News - John R. Dundon II, Enrolled Agent
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Unemployment compensation generally includes, among other forms, state unemployment compensation benefits, but the tax implications depend on the type of program paying the benefits. You must report unemployment compensation on line 19 of Form 1040, line 13 of Form 1040A, or line 3 of Form...

Bartering is the trading of one product or service for another. Usually there is no exchange of cash. However, the fair market value of the goods and services exchanged must be reported as income by both parties in the year exchanged. The IRS has an online Bartering...

Recently the IRS' Outreach Corner published an article stating that if you’re searching for a job, "you may be able to deduct some of your expenses, such as attending career fairs, moving expenses and submitting resumes, on your tax return as long as you are looking...

According to Colorado’s Uniform Debt Management Services Act (UDMSA) any person acting on behalf of a consumer in an effort to negotiate a debt must register with the Attorney General (AG).  Subsequently I learned ANYONE NEGOTIATING TAX DEBT RELIEF could be subject to enforcement by...

IRS Publication 901 U.S. Tax Treaties is to be used as a quick reference guide that will tell you whether a tax treaty between the United States and a particular country offers a reduced rate of, or possibly a complete exemption from, U.S. income tax for residents of particular...

IRS Form 8949, Sales and Other Dispositions of Capital Assets must be used to report most capital gains and losses. Any properties you own for investment purposes and most properties you own for personal purposes (ie your house) are for the most part considered capital assets....

Tax day is upon us - remember to at least get you application for automatic extension post marked today using IRS Form 4868 Or if your Adjusted Gross Income is under $57,000 you can file an automatic extension request online using Free File If you or your spouse (when...

Having the IRS put a tax lien on you absolutely sucks in many regards. It not only impacts your credit score, it carries a stigma that permeates into the workforce. Having an IRS Tax Lien discharged can be like transcending the seven depths of Dante's...

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