For more than twenty years, the Internal Revenue Service (IRS) has released a list of top tax issues for the year in an effort to help keep taxpayers from falling victim to potential scams. This year, one of the top scams the agency is calling involves promotors...
Serving Individual And Corporate Tax Clients Nationwide From Our New York, New Jersey, Florida And California Offices
Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
U.S. Tax Law Blog
IRS Forms and Notices: A Quick Glossary and Guide
The IRS is confusing enough, let alone sifting through the dozens of forms and letter names. At Goldburd McCone, we pride ourselves on maintaining an up-to-date knowledge of changes and important letters and notices for taxpayers to look out for. If you received any...
Who is liable for the tax bill if my tax preparer makes a mistake?
The laws that govern tax obligations in the United States are enough to make even the most seasoned of businessmen question their returns. Did they take advantage of all possible credits and deductions? Did they provide enough documentation to support the claims?...
3 steps to establish domicile in another state
The New York State Department of Taxation and Finance is aggressive when it reviews filings for a taxpayer that claims to no longer live in the state for tax purposes. The agency will use skilled income tax auditors to meticulously review filings and the movements of...
IRS’ Dirty Dozen: Phishing & Smishing
The IRS releases a list called the Dirty Dozen each year. In 2024, this list includes Phishing and Smishing scams – but, what is phishing? What is smishing? Here’s what you need to know, and how to report scams to the IRS.
IRS’ Dirty Dozen: The Fuel Tax Credit
The fuel tax credit is a refundable tax credit created to provide relief to eligible taxpayers for federal taxes paid on fuel used for certain purposes – as part of the Dirty Dozen list, many taxpayers misunderstand and misuse this credit. If you’re considering taking advantage of the Fuel Tax Credit, here’s what you need to know.
IRS’ Dirty Dozen: Offer in Compromise Mills
Each year, the Internal Revenue Service releases a list of known scams and tax concerns for taxpayers to watch for. Included on this list in 2024 is Offer in Compromise Mills, but what are offer in compromise mills?
Timeline of a typical ERC fraud case
Small business owners are the backbone of our economy. They balance not just providing a valuable service or good to their communities but also the demands of business ownership — the nitty gritty of navigating administrative tasks and making sure the business...
The ERC in 2024: What Employers Need to Know
No one wants an IRS audit letter to arrive at their door, and lately, many SMBs are facing them. The era of the ERC is far from over, and long from solid – Here’s what business owners should know.
IRS update on ERC claims: Agency will deny thousands and may pursue charges against small business owners
The Internal Revenue Service (IRS) has made it clear that it is coming after anyone that took advantage of the Employee Retention Credit (ERC) during and after the COVID-19 pandemic. Although their goal is noble — to make sure tax cheats are not bilking the system —...