How could something be income in 2025 if you don’t collect until 2026? The IRS says you have 'constructive receipt' when you ...

Many employers have paid-time-off (PTO) policies that allow employees to cash in some portion of their PTO when the balance reaches a certain level. Other employers offer to buy back unused PTO from ...

Because you had the right to receive it in December, it is taxable then, even though you might not actually pick it up until January. On the other hand, if your company actually agrees to delay the ...

Editor’s Note: The 2017 tax reform legislation provides that the cash method of accounting can be used by taxpayers that satisfy the gross receipts test regardless of whether the purchase, production ...