On behalf of Goldburd McCone LLP | Oct 29, 2020 | Tax Audits
Tax audits are investigations that check to see if you paid your taxes. These investigations will dig into what income and assets you reported, deductions taken and whether or not you were honest with the government. If the investigation results in evidence of a...
On behalf of Goldburd McCone LLP | Oct 22, 2020 | Tax Audits, Tax Collection
In 2018 the Supreme Court of the United States (SCOTUS) has essentially narrowed the ability of prosecutors to pursue criminal tax charges. The change was part of a recent holding, Marinello v. United States, where SCOTUS stated that obstruction charges for these...
On behalf of Goldburd McCone LLP | Oct 20, 2020 | Business Tax, Tax Audits, Tax Collection
A local court recently sentenced a businessman with a thriving law practice in New York to over one-year imprisonment for tax evasion. The government accused the businessman, who specialized in bankruptcy and criminal defense matters, of tax evasion in both his...
On behalf of Goldburd McCone LLP | Sep 29, 2020 | Tax Audits
Cryptocurrency is a relatively new form of currency that allows for online exchange. Unlike other forms of currency, cryptocurrency only exists online. Because it removes financial and banking institutions, some may believe that cryptocurrency is private. Although...
On behalf of Goldburd McCone LLP | Sep 21, 2020 | Tax Audits
As noted in our previous post, available here, the Internal Revenue Service (IRS) has announced that it will target high-income taxpayers in its future enforcement efforts. Within this focus, the agency has further clarified it will specifically target those who...
On behalf of Goldburd McCone LLP | Sep 1, 2020 | Tax Audits
The Internal Revenue Service (IRS) recently announced it will resume enforcement efforts — but what does this mean? The tax agency, like many other businesses throughout the country, drastically cut back its efforts over the past few months as a result of the COVID-19...
On behalf of Goldburd McCone LLP | Aug 21, 2020 | Tax Audits
Tax return preparers are now at an increased risk of getting a federal tax audit. The Internal Revenue Service (IRS) recently announced it will focus on this group of taxpayers during the current fiscal year. Why the focus on tax return preparers? The announcement...
On behalf of Goldburd McCone LLP | Jul 15, 2020 | Tax Audits, Tax Collection
It all started with the Tax Cuts and Jobs Act (TCJA). This monumental piece of tax reform led to changes that impacted every taxpayer in the country in some way. One of the biggest hits for high tax states with the limitation on the State and Local Tax (SALT)...
On behalf of Goldburd McCone LLP | Jul 13, 2020 | Tax Audits
The Internal Revenue Service (IRS) is attempting to increase efficiency. It is using various types of software to help determine which tax filings warrant additional scrutiny and to help let the agency know when to conduct audits. Although this may sound like a great...
On behalf of Goldburd McCone LLP | Jul 10, 2020 | Tax Audits
The Internal Revenue Service (IRS), like many offices throughout the world, cut back on operations as a result of the current coronavirus pandemic. This reduction in in-house workforce had a direct impact on taxes. Some beneficial, like the extended July 15 tax...
