Joseph Orabona's (vectortax) Blog

Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf. According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a ...

The IRS released their formal guidance yesterday on tax deductions from expenses paid for with Paycheck Protection Program finds. In April 2020, the IRS made their position known; they would not allow any deductions for expenses paid with forgiven PPP funds.  During the year I’ve written about, a...

Taxes are one of those topics people hate to talk about or even think about, especially if they end up owing money in back taxes every year. That's why many taxpayers wait until the very last moment to prepare for tax season. It’s also why nearly 14 million Americans find themselves receiving th...