IRS Reporting Rules – The Burns Firm – Advisors of Complex Financial Matters

Before You Spend Lottery, Gambling or Other Winnings, Understand the Tax Rules

July 28th, 2026|Categories: Accountant, accountant near me, Burns Firm, CPA, CPA Dallas, CPA near me, CPA Texas, Dallas CPA, Dallas tax return preparer, Gambling, Gambling Losses, Gambling Winnings, IRS Reporting Rules, Lottery Winnings, Tax, tax accountant, tax accountant near me, Tax Advisor, Tax Preparation, tax preparer near me, Tax Rates, Tax Rules, Taxable Income, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, CPA Tax Advisor, Dallas CPA, Estimated Tax on Gambling Winnings, Gambling Winnings and Tax, Lottery Winnings and Tax, tax, tax accountant, tax advisor, Tax Rules on Gambling Winnings, Tax Rules on Lottery Winnings, Texas CPA, The Burns Firm|

It’s easy to focus on the excitement of a big win. But federal tax law generally treats lottery prizes, gambling winnings and other awards as taxable income. Knowing the [...]

Avoiding IRS Penalties: Strategic Relief Backed by Federal Case Law

February 24th, 2026|Categories: Burns Firm, CPA, CPA Dallas, CPA near me, Dallas CPA, IRS, IRS Penalties, IRS Reporting Rules, Tax, tax accountant, tax accountant near me, Tax Advisor, Texas CPA, The Burns Firm|Tags: CPA, cpa near me, Dallas CPA, IRS Issues, irs penalties, tax, tax advisor, Texas CPA, The Burns Firm|

IRS penalties are not automatic—and they are often avoidable. Many taxpayers assume that once the IRS assesses penalties, payment is inevitable. That assumption is costly—and often wrong. Federal courts, [...]

Does Your Business Have to Comply with New Corporate Reporting Rules?

December 21st, 2023|Categories: Beneficial Ownership Information, BOI, Corporate Transparency Act, CPA, CPA near me, CTA Rules, Dallas CPA, Financial Crimes Enforcement Network, FinCEN, IRS Reporting Rules, Tax, Tax Advisor, The Burns Firm|Tags: Beneficial Ownership Information, BOI Financial Crimes Enforcement Network, Corporate Reporting Rules for 2024, Corporate Transparency Reporting, CPA Dallas, cpa near me, CTA, CTA Rules, FinCEN, tax, tax advisor, The Burns Firm, The Corporate Transparency Act|

Your business may soon have to comply with new reporting requirements that take effect on January 1, 2024. Under the Corporate Transparency Act (CTA), enacted in 2021, certain companies will [...]