LyfeAccounting

APRIL 8, 2021

of all individual tax returns. Judging by the numbers… …it’s clear that returns reporting higher incomes are looked at a bit more closely by the IRS as the ability to benefit from large tax deductions and credits increases. Claiming Large Losses From Gambling. You owe taxes on the gain.

audit 59

audit Gambling tax return Tax 59

LyfeAccounting

JULY 1, 2021

But in 1931, Capone was found guilty of 22 counts of federal income tax evasion and was convicted to 11 years in federal prison, in addition to $215,000 plus interest due on back taxes. You see, despite publicly displaying his wealth, Capone never filed a Federal tax return. If not, you may owe taxes on the benefits.

Tax 52

Tax Gambling tax return income tax 52

LyfeAccounting

MAY 18, 2021

Well, on April 2nd, federal authorities arrested Mr. Brooks and seized more than 2 million dollars from 11 different bank accounts. Authorities claim Brooks fraudulent tax returns showed over 700 thousand in payments and 7 million in unemployment payments to employees of Cars Direct. Let’s unpack this. Hotels and Louis Vuitton.

Florida 71

Florida tax return Washington Gambling 71

LyfeAccounting

JULY 9, 2021

This would be dividends, interest, capital gains, gambling winnings, alimony, social security benefits, pensions, and annuities. This one would be business profits, royalties, rents and scholarships, and fellowships. federal income tax return. Unearned income. Variable income. And that’s it!

income tax 52

income tax Tax Gambling tax return 52