The COVID-19 pandemic was difficult for individuals and businesses alike. Even state government authorities took a financial hit during the pandemic. As a result, tax experts predict states will take action to recoup lost revenue, most likely through the use of...
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Month: December 2021
Business owner faces prison for false statements on PPP loan application
The Paycheck Protection Program (PPP) is a federal program that offers small businesses loans to help them survive due to government forced shutdowns or reduced operations as a result of attempts to reduce the spread of the coronavirus. It is touted by financial...
How does the IRS search for high-income non-filers?
The Internal Revenue Service (IRS) has repeatedly stated that it will focus its efforts on high-income non-filers. Uncle Sam states taxpayers who have significant income but fail to contribute their “fair share” in income tax returns are one of the biggest reasons for...