There is a common belief that if we spend more than half of the year in one state, we can claim that state as our residence for state tax purposes. Unfortunately, tax residence in the eyes of state taxing authorities is not nearly as simple. Some states are worse than...
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Tax Audits
Feds continue aggressive prosecution for COVID related fraud
The federal government has taken an aggressive approach against those it believes abuse pandemic related relief programs. To extend the federal government’s reach when it comes to enforcing these measures, President Joseph Biden recently agreed to two recent changes....
Will the IRS get billions to increase enforcement efforts? 3 things to know.
One of the goals of the Inflation Reduction Act is to set aside $79.6 billion for the Internal Revenue Service (IRS) to use over the next decade. The proposal sets aside the majority of these funds for enforcement efforts. But what should taxpayers know about this...
How does the IRS find high-income non-filers?
The Treasure Inspector General for Tax Administration reports that the government has failed to collect over $37 billion in taxes from high-income non-filers. With numbers this high it is no surprise the Internal Revenue Service (IRS) is taking the issue seriously. In...
Will NY state authorities go after employers with out of state workers?
The pandemic came with a lot of negatives — but there were some positives, too. Families spent more time together and businesses ironed out their ability to function without needing all their workers in house. This led to increased flexibility and set the stage for a...
What tools can the IRS use when looking for tax cheats?
A recent study published by the Internal Revenue Service (IRS) found that taxpayers who make $420,000 or more fail to properly report up to 21% of every dollar of income on their tax returns. Some of this, the agency notes, is the result of an honest mistake but it...
Worried about an audit? Three things to know.
If you get notification of an audit, know that you are not alone. Recent numbers can provide some comfort. The Internal Revenue Service (IRS) conducted a reported 771,095 audits in 2019. Of these audits, the IRS deemed 13,946 as high wealth audits — defined as...
What do I need to know about a PPP audit?
The Coronavirus Aid, Relief, and Economic Securities (CARES) Act permitted Congress to create the Paycheck Protection Program (PPP). This federal program then allowed the government to send out billions of dollars of funds to qualifying entities. Congress was very...
Will NY state taxing authorities go after employers with out-of-state remote workers?
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...
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...