Should You Use the Average Exchange Rate for Foreign Income?
When converting foreign income to USD, the IRS allows average exchange rates only in limited cases. Learn when transaction-date rates are safer and how to avoid audit risk.
Didn’t Receive a W-2G? You May Still Owe Tax on Gambling Income (2025 Guide)
Gambling income is taxable even without a W-2G. Learn IRS reporting rules, thresholds, and loss deductions for 2025.
Part 10: IRS Reporting Rules — What the IRS Actually Sees
Understand what the IRS receives from exchanges, what you must report, and how to avoid penalties in 2025.