Are influencer tax rules any different from regular tax rules? No. The Tax Court’s first ruling involving a social-media creator, Sami v. Commissioner, applied the same ordinary-and-necessary business expense standard used for every other business. What actually decides an influencer tax audit is substantiation, business purpose, and whether the activity is a real trade or…
Can FTB return money it collected years ago? Sometimes, yes. FTB Legal Ruling 2026-02 (issued August 21, 2026) draws a sharp line between an overpayment (subject to the four-year refund statute) and an FTB overcollection (excess taken by mechanical or clerical error during involuntary collection). Overcollections can be returned even after the SOL — but…
Is IRA fraud still taxable if the money was stolen? Usually, yes. A withdrawal you were tricked into making is still a distribution to you, so the amount is taxable and a Form 1099-R follows. The IRS has waived the 60-day rollover deadline for IRA fraud victims in several private letter rulings, but the waiver…
Is the IRS about to change how retirement rollovers work? Yes. The new IRS rollover guidance in Notice 2026-49 proposes four sample rollover forms, a rollover identification number to protect participant PII, and future rules that could end paper rollover checks sent to participants. If you have ever tried to move a 401(k) to an…
