Category Archives for ELIMINATING IRS TAX DEBT
Companies 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
Read MoreThe IRS is Going on a Hiring Spree
The Internal Revenue Service is looking to hire more than 5,000 employees in three cities over the next few months, and another 5,000 employees over the course of the next year. It has also added voice
Read MoreWhat Is Power of Attorney and When Is It Used?
To protect your privacy, IRS employees won't talk to just anyone about your taxes. To give them permission to discuss your taxes with someone other than yourself, the IRS will need a power of attorney
Read MoreHere’s How to Evaluate a Tax Relief Firm from a Cost Standpoint.
Note: you should refer to a tax attorney. Tax attorneys have the highest level of representation and credentials and can offer more options to you compared to a CPA or an enrolled agent. You need to know
Read MoreThe IRS Signs Three New Collection Agencies
Seriously tax-delinquent taxpayers may soon hear from someone new.The Internal Revenue Service has awarded contracts to three private collection agencies for the collection of overdue tax debts. The new
Read MoreThe latest tax avoidance trick probably isn’t for you
There’s a tax avoidance trick that the super-rich are already using to avoid paying the higher taxes proposed by Democrats to finance their spending plans. Naturally, the moderately rich are interested,
Read MoreBombshell tax draft throws a curveball at the wealthy
The fight in Congress over emerging tax increases on the wealthy took a dramatic turn on September 13, with a slew of unexpected proposals from lawmakers, including retirement plans, inheritances, and
Read MoreIRS begins distributing monthly Child Tax Credit payments
The IRS and the Treasury recently started disbursing advance monthly payments of the expanded Child Tax Credit in a program that aims to lift millions of families out of poverty.Approximately $15 billion
Read MoreIRS switched strategies for pursuing the wealthy, but came up short
The Internal Revenue Service ended one strategy for examining high-income taxpayers in 2017 and switched to another strategy involving the IRS targeting the wealthy that brought in far less tax revenue
Read MoreU.S. Treasury Announces New Cryptocurrency Tax Reporting Requirements
The Treasury Department announced that it is taking steps to crack down on cryptocurrency markets and transactions and said it will require any transfer worth $10,000 or more to be reported to the Internal
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