Category Archives for AVOIDING TAX PROBLEMS

Mastering Tax Compliance: Building Healthy Financial Habits

  • April 27, 2025

Do you ever feel a twinge of anxiety as tax season approaches? That subtle, or not-so-subtle, knot in your stomach when you think about deductions, deadlines, and the ever-present possibility of an IRS

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5 Common IRS Audit Triggers in 2025 (And How to Avoid Tax Trouble)

  • April 25, 2025

Let's Talk About IRS Audit Triggers Worried about an IRS audit? Let's make sure you stay in the clear by understanding the most common IRS audit triggers that could put you on their radar.Nobody wants

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IRS Crackdown Targets $1.4 Billion in Unpaid Gambling Taxes

  • November 20, 2024

The IRS is preparing a tax-enforcement push to address $1.4 billion in unpaid gambling taxes.A recent audit by the Treasury Inspector General for Tax Administration (TIGTA) revealed that nearly 150,000

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IRS Cracks Down on Non-Filers: Are You Prepared?

  • August 23, 2024

The IRS is turning up the heat on IRS non-filers, and if you haven't filed your tax returns since 2017, you could be in their sights. With the new resources provided by the Inflation Reduction Act, the

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Supreme Court Rules for IRS on Estate Tax and Life Insurance Proceeds

  • July 24, 2024

The Supreme Court unanimously ruled that life insurance proceeds used to buy back a deceased shareholder’s stock must be included in the estate's value for tax purposes.Background of the CaseThe case

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IRS Audit Focus Remains on Middle-Class Taxpayers

  • July 23, 2024

A recent report reveals that the IRS audits more middle-class taxpayers than high-income earners, contrary to President Biden's promises.The Audit FindingsThe Treasury Inspector General for Tax Administration

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IRS Corporate Jet Audits: Increased Scrutiny on Tax Deductions

  • April 16, 2024

Under the Radar No MoreThe Internal Revenue Service recently announced a campaign to investigate the use of corporate jets by large businesses and wealthy individuals. Although the announcement was made

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Maximize Estate Tax Exemptions Before 2025 Deadline

  • March 15, 2024

Act now to utilize estate tax exemptions before they decrease in 2025. Learn how with the right tax planning strategies.Maximize Your Estate Tax Exemptions Before Time Runs OutWith the Tax Cuts and Jobs

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IRS Targets Nonfilers: Their New Push to Bridge the Tax Gap

  • March 15, 2024

Taxpayers beware: the IRS is renewing efforts to address the rising issue of nonfilers, aiming to recover billions in unfiled tax returns."The Growing Challenge of Nonfilers for the IRSThe Internal Revenue

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Ohtani’s $680M Decision Spurs Deferred Contract Tax Planning Insights

  • February 16, 2024

Shohei Ohtani's groundbreaking $700 million contract with the Los Angeles Dodgers not only sets a new benchmark in professional sports but also introduces complex financial planning and tax considerations.

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