Blog Posts
Tax on Unearned Income of Certain Children (Kiddie Tax)
Concise Takeaway When a child has more than $2,700 of unearned income in 2025, part of that income may be taxed at the parents’ tax rates. Parents may elect to report the child’s income on their own return, or the child may file using Form 8615. Purpose of the Kiddie...
TAXPAYER SUPPORTING DOCUMENTATION — A Minimal, Complete Overview
Taxpayers must keep records for as long as they are needed to administer any provision of the...
PREPARER PENALTIES — A Minimal, Complete Overview
Tax return preparers must take reasonable positions on returns. A position is reasonable only when...
TAX RETURN PREPARERS — A Minimal, Complete Overview
A tax return preparer is any individual who prepares, for compensation, all or a substantial...
DISCIPLINARY PROCEEDINGS — A Minimal, Complete Overview
Circular 230 establishes the procedures the IRS uses to discipline practitioners who violate...
CONDUCT SUBJECT TO SANCTION — A Minimal, Complete Overview
Circular 230 authorizes the Secretary of the Treasury, or a delegate, to discipline practitioners...
DUTIES AND RESTRICTIONS — A Minimal, Complete Overview
Circular 230 establishes the professional standards that govern individuals who practice before...
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