When it comes to filing your taxes, there are a number of different forms and documents that you need to submit in order to be in compliance with the IRS. One of the most important of these is your Form 1040, which is used to report your income, deductions, and tax obligations for the year. […]
What Happens If You Don’t Report Stocks
If you don’t report stocks, you may be liable for penalties and interest. The penalties for not reporting stocks can be significant. You may be liable for interest and penalties on the amount of tax that should have been paid. In addition, you may be subject to criminal prosecution. The IRS requires that you report […]
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