059 Kiddie Tax
IRS loses $860K lawsuit against an individual who tripped on a phone cord during an audit. The individual needed medical care but didn’t need the other $10M lawsuit.
Medical devices tax and Investment income tax
State Tax News:
Amazon to begin collecting Use Tax on February 1, 2014.
Papa Murphy and the sales tax prepared food definition request for the streamlined sales tax initiative
Carefree, Arizona implements use tax
The main topic is the Kiddie Tax
Five things for considering the Kiddie Tax
- Amount of non-earned income earned by your child
- Age of your Child
- Standard Deduction is different for a dependent who has income
- Amount of the tax
- A child under the age of 18 can’t sign the tax. Which parent is going to sign the return.
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Navigating The Tax Headline of the Week
NewsletterQ&A coming soon.
Tax TipsThe Additional Child Tax Credit is available on dependents under the age of 17.
- CIRCULAR 230 DISCLOSURE "We are required by IRS Circular 230 to inform you that the advice contained herein (including all attachments) was not intended or written to be used for the purpose of avoiding any penalties that may be imposed under Federal tax law and cannot be used by you or any other taxpayer for the purpose of avoiding such penalties."
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