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If the Internal Revenue Service (IRS) believes you owe them money, they will send a bill. This bill will contain all sorts of information, from how much is owed to the potential penalties and additional charges that can apply if you fail to pay by the due date....
Coming into a windfall has its pros and cons. If, for example, that windfall is a foreign asset in the eyes of the Internal Revenue Service (IRS) it can come with strict scrutiny. In a recent example, the IRS has focused its attentions on a woman who failed to...
The Internal Revenue Service (IRS) continues to crack down on return preparer fraud. It has listed this tax crime as one of its Dirty Dozen tax schemes — meaning it will focus resources towards investigating allegations of this crime. What is tax return preparer...
The federal government has come down hard on tax preparation professionals who allegedly misused the Economic Injury Disaster Loan (EIDL) program. In its most recent example, the government was able to build a strong case against four professionals — resulting in an...
The Internal Revenue Service (IRS) is continuing its crackdown on tax return preparer fraud. The IRS has had this crime on their list of the dirty dozen for years, representing it as one of the worst tax crimes in our country. Their efforts have proven successful. In...
Is the Internal Revenue Service (IRS) impartial? That question is currently circulating in Washington and throughout the country. The question was fueled by the recent audit selection of two high ranking government officials who spoke out against former President...
State taxing authorities have had almost five years to navigate sales tax issues after the Supreme Court ruling in South Dakota v. Wayfair. In that case, the court essentially relaxed the rules on when a state can tax a business. In the past the government required a...
The Internal Revenue Service (IRS) has stated that it wants to increase its focus on high-income taxpayers. Thus far, it appears they are following through. The IRS recently released its Data Book, a publication that provides information on the tax audit rate for...
The Internal Revenue Service (IRS) has a reputation for aggressive pursuit of those it believes commit tax fraud — but what does this mean? In a recent example, the feds came after a New York family who owned a coffee and donut business. They claim the family worked...
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...