Markos Banos
Tax Writer
Markos Banos 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
Disability Income Can Affect Your Tax Refunds in a Good Way, Depending on Its Origin
"Refund" might be the wrong word for a tax credit, but it's usually good news either way, right?
Do Capital Gains Count as Income When I'm Doing My Taxes?
Gains, income, gravy train - it's all the same, isn't it? Not to Uncle Sam.
Math Errors and Missed Deductions: When You Should File an Amended Tax Return and How to Track Yours
What to do when something doesn't add up on your tax refund.
The Civil Side of Retirement: Your Paycheck and the Federal Insurance Contributions Act (FICA)
What the FICA? If I earn $160,201, I don't have to pay into Social Security?
Get Your Tax Return Amended: How to File Amended Returns and Check Amended Statuses
The IRS gives you a mulligan?
Tax Teamwork: Instructions for Partnerships Using Form 1065 on Their Federal Tax Returns
They say partnership is hard. Then comes along Form 1065.
Capital Gains and Income: Are You Ready to Realize How Your Gains Affect Your Taxes?
Did you realize this about your capital gains?
How to Qualify for the IRS De Minimis Safe Harbor Election
My Latin might be rusty, but is this the business equivalent of "don't sweat the small stuff"?
What Do I Do With an IRS Adjusted Refund Letter?
I must have been doing something right for years -- I've never heard of this Adjusted Refund letter.
What Business Owners and Employers Should Do When The IRS Gives Them a 147c Letter
IRS Letter 147c is an official form of verification issued by the IRS (Internal Revenue Service) that confirms the business or entity's EIN (Employer Identification Number). It's commonly sent to the…
The Right Way to Use Form 8962 to Claim the Premium Tax Credit
Form 8962 is an essential document for those who have received advance payments of the premium tax credit during the year or plan to claim the premium tax credit on their tax return. It helps taxpayer…
Paypal, Square, Venmo, Etsy, and Other Third-Party Networks May Show up on Your 1099-K Tax Form
The 1099-K form is a tax form used by the Internal Revenue Service (IRS) to track and report payment transactions made through third-party networks. Third-party networks include companies like PayPal…