Jacob Dayan
CPA
Jacob Dayan is a tax professional at IRS.com with expertise in U.S. federal and state tax law. Their articles are written to help taxpayers understand complex tax topics in plain English.
Articles
What Happens If You Don't File Taxes?
Failure to file your taxes, or filing them late even if you get a tax extension, can bring about bothersome and potentially serious consequences for you, from hefty fines to severe legal troubles depe…
Powerball After Taxes: How Much Will The IRS Take?
You know how it goes, one person becomes a millionaire overnight, and the rest of America turns into financial analysts. The Powerball jackpots have been nothing short of epic in the last decade, so b…
Short-Term Capital Gains Tax: A Quick Guide
A Quick Guide To The Short-Term Capital Gains Tax…
Claiming Dependents On Taxes: A Complete Guide
For tax purposes, a dependent is anyone who relies on you for financial support and can be “claimed” on your tax return (other than your spouse, of course.) Typical examples of dependents are your chi…
IRS Code 766: What it Means on Your Transcript
Taxes and good news seldom come together, but that doesn’t mean it never happens. Case in point, you might one day receive your tax transcript and find IRS code 766 on it. Well, Code 766 serves as a c…
The Credit for Employer-Provided Childcare Facilities
The Credit for Employer-Provided Childcare Facilities is tax credit that encourages employers to provide childcare to their employees. An employer can get a tax credit up to $150,000 per year to offse…
What Form 1099-R Means For Your Retirement: Pensions, IRAs, Retirement or Profit-Sharing Plans
The R stands for Retirement. The 1099 stands for "Pay your fair share, even if you're retired.'
What Form 1099-R Means For Your Retirement: Pensions, IRAs, Retirement or Profit-Sharing Plans
The R stands for Retirement. The 1099 stands for "Pay your fair share, even if you're retired.'
You Can Now Claim Self Employed Tax Credits for Sick Time & Family Leave
A new tax credit to claim is something you'll never get sick of.
You Can Now Claim Self Employed Tax Credits for Sick Time & Family Leave
A new tax credit to claim is something you'll never get sick of.
401k Contribution Limits Increased for 2024
The year 2024 brings good news for retirement savers. The 401k contribution limits are set to increase, allowing individuals to save even more towards their golden years. These changes aim to address…
How Are Cryptocurrencies Taxed? When You Pay Taxes on Bitcoin, What's Your Taxable Income?
And you thought e-filing your taxes was the hottest, new-fangled doodad the IRS tracked.