They'll end up having to pay interest and penalties based on that income which they should have reported.

If the price of the stock drops, you could owe more in taxes than the value of the stock.

It doesn't matter what you spend that loan on. You can go out and borrow $100,000 against your home, spend it on anything, even a vacation - and you can deduct the full amount of interest you pay on that loan.

If both people make $300,000, they'll pay more than $18,000 in taxes by filing jointly. That's about the cost of the wedding.

If you're getting a significant refund, you're probably withholding too much and you're giving the government an interest-free loan.

Anything that's relevant to your tax return I would keep until six years after you file, and I would keep copies of the tax returns themselves as long as possible.

Proper planning can save dollars.