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Side hustles feel like the ultimate cheat code to financial freedom—extra cash, flexible hours, and that sweet taste of independence. But when tax season rolls around, those “bonuses” can backfire faster than a bad business idea.

In this week's Ask the Editor Q&A, we answer questions from readers on estate and gift taxes.

BJP MP Nishikant Dubey tweeted an alleged ITR document to claim a massive rise in the income of a journalist after he left his job to “abuse” Prime Minister Narendra Modi and the BJP. Who was this journalist? He left his followers to guess.

Giving or receiving financial gifts can be a generous act, but it often comes with tax responsibilities that many overlook. The rules around tax filings after financial gifts are more complicated than most expect. If you don’t follow the IRS guidelines, you could face unexpected penalties or paperwork headaches down…

Retirement is often portrayed as a time of financial simplicity. No more paychecks to track, no more yearly raises to calculate, and, for some, no...

Few things create more anxiety than receiving unexpected mail from the IRS. Even if you are confident your tax return was accurate and submitted on time, certain notices can indicate potential problems. These letters often require a timely response and may involve additional documentation, payments, or explanations. Knowing the meaning…

For many older couples, filing a joint tax return seems like the most logical choice. It often comes with a lower overall tax rate and simplified paperwork. However, the decision can also trigger an unpleasant surprise — certain valuable tax credits may shrink or vanish entirely. Understanding why some senior…

If you’ve ever worried about tax fraud, you’re not alone. Tax fraud can happen to anyone, and it’s a real headache. Maybe you found out someone used your Social Security number. Maybe you noticed a strange tax return filed in your name. Now, you’re wondering: what happens if you use…

TaxScouts is all about getting your tax return for you – by accredited accountants – in as little as 2-3 days.

Well-proven software that can guide anyone through filing their tax return.

Trying to hide assets from the IRS is risky. The IRS has many ways to spot red flags, and one financial clue stands out. If you’re not careful, this clue can trigger an audit or even a criminal investigation. Most people don’t realize how easy it is for the IRS…