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The Internal Revenue Service (IRS) often issues warnings to help taxpayers avoid becoming the victim of the latest tax scams. These scams are serious. The IRS reports that they cost thousands of taxpayers millions of dollars. As such, it is important for taxpayers to...
Seeing a communication from the IRS is likely right up there with looking in your rear-view mirror and seeing red and blue flashing lights. Just like we take caution during a traffic stop to pull over in a safe area, we need to take caution before we move forward and...
Business owners know that they need to get their finances in order before they can close — but what exactly does this mean? Business owners will need to do more than just put up a closed sign, shut down accounts, and sell off tangible goods before they can move on...
Federal agencies and lawmakers continue to try to navigate the best way to handle digital assets. When it comes to taxes, the Internal Revenue Service (IRS) views digital assets as a type of property. The IRS defines digital assets as any digital representation of...
Tax debt can lead to some pretty serious ramifications. In some situations, it can even impact the ability to travel. Although those with significant tax debt could likely still take domestic trips like a road trip to the beach or a getaway into the mountains, the...
The Internal Revenue Service (IRS) has doubled down on small business owners that it claims took illegal advantage of a potential tax savings opportunity. The federal agency states that businesses throughout the country fraudulently claimed the Employee Retention...
Taxes are never easy — but add in a move abroad and an already cumbersome necessity can become especially frustrating. That’s right, United States Tax Code still requires citizens that live abroad to file tax returns with the Internal Revenue Service (IRS). Do I still...
Lawmakers passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act to help get businesses through the worst of the pandemic. The Employee Retention Credit (ERC), part of this law, was aimed to do just what the name says — help small businesses keep their...
The remote work environment has facilitated the ability for workers to take advantage of newfound freedom. Instead of finding themselves stuck in one location near an office, they can now work from virtually any place in the world. Some are choosing destinations based...
Media outlets and taxpayer watchdogs alike have dogged the Internal Revenue Service (IRS) for its struggles to deal with a backlog of millions of unprocessed tax returns. This makes recent news the federal agency has caught up with its backlog noteworthy. This is...