Live in Las Vegas, and have unfiled taxes? Your not alone. Based on research done by us and our software from our partners at EPS edge, Las vegas ranks second in the nation for unfiled tax filers.

Nevada also doesn’t have a state income tax, which often times leads many residents to assume their taxes may be simple, and counterproductively they are not- Federal taxes still apply, & Las Vegas taxpayers often have some of the most uniquely complex situations in the country.

Recieving significant tip income in the hospitality and service industry as casino dealers, servers, hotel staff, and entertainers — often adds unpredictable tangible’s to tax returns.

Tips are fully taxable by the IRS, and most likely has caught many workers off gaurd. This can be a factor into the high ranking by the state if there isn’e established trust within the local area for taxpayers, either. This is where we come in hand at Trust Fund Family Taxes; providing our clients cccurate reporting; including other factors that may be able to help our clients avoid IRS notices and penalties- instead of not fiing at all.

With such a large gambling scene, gambling income is a larger part of the area, also. This also includes casino jackpot or online earnings — as fully taxable federal income.

This can easily be interpreted as a likely leading cause in the high number of unfiled taxes. Las Vegas residents who gamble may have fallen behind with understanding reporting, so if this fits you, you are not alone. We understand how to itemize the losses properly for offseting. Navigating this correctly can save you thousands, so we are here to help in your best interest.