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Friday February 3, 2023

Our News
Thank you for your interest in The DuPage Foundation. Our hope is to serve you and your family with helpful information.
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Savvy Living
I know the fall open enrollment period has passed but I heard there are other times of the year when beneficiaries can...
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Washington News
In IR-2023-12 the Internal Revenue Service (IRS) reminded taxpayers to report all digital asset income on their 2022 income tax returns. All taxpayers must answer a digital asset question on IRS Form 1040. The IRS has expanded and clarified instructions with respect to the question. The question asks, "At any time during 2022, did you: (a) receive (as a reward, award or payment for property or services); or (b) sell, exchange, gift, or otherwise dispose of a digital asset (or a financial interest in a digital asset)?" Digital assets include cryptocurrency, stablecoins or non-fungible tokens (NFTs). All taxpayers who file IRS Forms 1040, 1040-SR or 1040-NR must answer either "Yes" or "No" to the digital asset question. There are several circumstances that require a taxpayer to check the "Yes" box. You must report if you received digital assets as payment for property or services, received digital assets as a reward or award, received digital assets from mining or staking, received digital assets from a hard fork (a branching of a cryptocurrency's blockchain that splits a single cryptocurrency into two) or disposed of digital assets through sale, exchange or for receipt of...
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Personal Planner
Trusts are an excellent way to provide for the support and care of children while protecting them. Two important reasons...
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