Most recent by TurboTaxLisa

8 Last Minute Tax Tips to Help You Make the Tax Deadline

8 Last Minute Tax Tips to Help You Make the Tax Deadline

The tax deadline is just a day away, but you still have time to go online and file your taxes. The IRS reports that more than half of taxpayers have already filed their returns and more taxpayers filed from their home computers this year, up 6% from last year. If you’re in the 20 to 25% who waited until the last minute to prepare your taxes, here are some steps to help you file your taxes by the tax deadline and get a bigger tax refund.

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IRS Provides Guidance on the Taxation of Bitcoins and Virtual Currency

IRS Provides Guidance on the Taxation of Bitcoins and Virtual Currency

Yesterday the IRS answered this long standing question about the taxation of virtual digital currency, announcing that virtual digital currency like Bitcoins should be taxed as property instead of currency for federal tax purposes and the same rules that apply to property transactions like the sale of stocks apply to virtual currency. So what does this mean for you if you’re a tech savvy taxpayer dabbling in trading this form of currency? Full story