Category Archives for AUDITS, APPEALS, & LITIGATION
The IRS Reveals How It Will Spend Its $80B
In a report to the Secretary of the Treasury, the Internal Revenue Service laid out its strategic operating plan for the next decade, with details on how it plans to use the extra IRS funding. $80 billion
Read MoreSCOTUS Slashes IRS Penalty Against Taxpayer for Not Reporting Foreign Bank Accounts
The Supreme Court ruled 5–4 in a fractured opinion on Feb. 28 that the IRS imposed an excessive fine on a businessman for failing to report foreign bank accounts, reducing the financial penalty from
Read MoreEx-IRS Agent Sounds Alarm on What’s Coming Next
Gun-Toting Wing of IRS wants to ‘put the fear of God in people’: ex-agentAs the Internal Revenue Service seeks to bolster the ranks of its weapon-carrying IRS Criminal Investigation unit, a former
Read MoreIRS Targets Gig Workers and Foreign Income Recipients
Taxpayers face consequences for failing to meet certain tax obligations.The Internal Revenue Service (IRS) recently issued a notice to “gig economy” service workers and those who receive a foreign
Read MoreTax Filers Must Answer New Crypto Question or Face Consequences
The Internal Revenue Service (IRS) issued an alert recently to taxpayers, reminding them that they must report all digital asset-related income and answer a new digital assets question on their 2022 federal
Read MoreSupreme Court Considers Attorney-Client Privilege in Tax Case
The U.S. Supreme Court recently heard oral arguments in a tax case in which both attorneys and CPAs offered advice. At issue is the question of whether a communication involving both legal and nonlegal
Read MoreWhat the $80 Billion in IRS Funding Means for Your Tax Return
Should taxpayers expect more scrutiny from the Internal Revenue Service, a chunk of whose $80 billion in additional IRS funding will pay for more auditors to ferret out tax cheats?Shortage of IRS accountants
Read MoreA Big Applause for Charlie Sheen’s Tax Resolution Team!
For once, the "IRS vs. celebrity" terror tale isn’t a story about the IRS crushing a celebrity under its heel – it’s an underdog tax resolution tale of a star fighting back! This summer, actor Charlie
Read MoreIs an Army of New IRS Agents Coming for Your Tax Dollars?
The Inflation Reduction Act of 2022 – new multi-billion-dollar energy, healthcare, and tax legislation – provides $80 billion to the IRS and has some people worrying about new IRS agents and audits.President
Read MoreCompanies Worry About Crypto Accounting & Taxes
Businesses that have been investing in cryptocurrencies like Bitcoin and Ethereum are dealing with uncertainty regarding crypto accounting and taxes as the Securities and Exchange Commission and the Internal
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