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
Read MoreThe 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
Read MoreA 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
Read MoreUnder 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
Read MoreTaxpayers 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
Read MoreShohei 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.
Read MoreBuying and running sports teams come with certain tax breaks (from tax losses).The Internal Revenue Service (IRS) will intensify its scrutiny of the sports industry’s reporting of sports teams' tax losses,
Read MoreSome millionaires were also sent to prisonThe Internal Revenue Service says it collected almost half a billion dollars from wealthy tax cheats last year, in a continuing effort to step up their enforcement
Read MoreThe IRS announced the establishment of a new division targeting “pass-through” entities, which the agency claims will hold America’s wealthiest tax filers “accountable.”Pass-through entities
Read MoreIn a series of new IRS compliance initiatives, the tax agency has its sights set on high-income, high-wealth entities and individuals. The IRS is, among other issues, going after individuals having over
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