The Internal Revenue Service started accepting e-filed returns last Tuesday. Yet employers and businesses have until February 1, 2016 to send the tax forms required to complete a return.
In the first part of this post, on December 27, we provided an introduction to the concept of hobby loss by looking at a recent case example. The case involved a photographer who created and sold stylized digitized images of the American West.
Turning the calendar into a new year invariably means tax changes. In today's post, we will update you on one of the new features in US tax law this year: the use of debt collectors from private industry to go after certain types of tax debt.