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
Required Reading for Anyone Worried About Their 401k RMDs (Required Minimum Distributions)
The dreaded RMD of 401ks.
Capital Gains Taxes and the Key Inside the 28% Rate Gain Worksheet
The capital gains tax is a tax on profits from selling a capital asset. It applies to a range of investments, including stocks, bonds, mutual funds, real estate, and other tangible assets.
1095-A vs 1095-C: A Healthy Understanding of Tax Forms about Health Insurance
These two forms I love scrambling for because I'm still not used to sticking them with my W-2s: The 1095s…
Is Alimony Tax Deductible?
The financial struggles of a divorce can be overwhelming, but there may be some relief in the form of tax deductions. Alimony payments are often deductible from taxes, providing an opportunity to less…
Do S Corps Get a 1099?
The 1099-Misc form is one of the most commonly used tax documents for businesses, but do S Corps actually need to receive it? This question can be difficult to answer without a better understanding of…
Everything You Should Know About Getting, Using, and Renewing Your ITIN
An Individual Taxpayer Identification Number (ITIN) is a nine-digit tax processing number that starts with a "9," used by individuals to file a federal tax return if they do not have (and are ineligib…
Refundable Tax Credits vs. Non-Refundable Tax Credits
Sometimes credits can be too much, and we mean that in every sense of the word. Thankfully, tax credits offer some much needed relief to the overwhelmed taxpayer.
What Is the Modified Adjusted Gross Income?
The simplest way we can define the Modified Adjusted Gross Income (MAGI for short) is “your AGI plus a few things”. Things are far more complex than that, of course! But this short explanation is the…
How to obtain a copy of past tax returns in all 50 states
If you are attempting to get a copy of your Federal Tax Return from the IRS, watch this how-to video on how to get copy of your past tax returns from the IRS.
How to obtain a copy of past tax returns in all 50 states
If you are attempting to get a copy of your Federal Tax Return from the IRS, watch this how-to video on how to get copy of your past tax returns from the IRS.