Category Archives for IRS Tax Audit

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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IRS Collects $482M in Back Taxes From Millionaires in 2023

  • February 14, 2024

Some 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

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IRS Targeting Wealthy Citizens in New Compliance Initiatives

  • November 15, 2023

In 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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IRS Launches Huge Tax Enforcement Crackdown Using AI

  • October 13, 2023

The Internal Revenue Service (IRS) has announced that thanks to a new funding boost, it's launching a "sweeping, historic" tax enforcement initiative using AI and other cutting-edge technologies to catch

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IRS Cracking Down on Illegal Sports Betting

  • October 12, 2023

The Internal Revenue Service's Criminal Investigation division is targeting illegal activity tied to sports betting as the pro football season gets underway.Between 2021 and 2023, IRS criminal investigators

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IRS Skirted Rules on Directly Contacting Represented Taxpayers

  • September 7, 2023

Internal Revenue Service employees weren't always following the proper rules when it came to directly contacting taxpayers instead of their representatives like CPAs, enrolled agents, and attorneys.Represented

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IRS Ends Unannounced Visits to Protect Agents

  • July 31, 2023

The Internal Revenue Service is stopping most unannounced visits to taxpayers' residences and businesses by its revenue officers after a rising number of threats has put its employees' safety at risk.Appointment

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IRS Agent: ‘I Can Go Into Anyone’s House at Any Time’

  • July 10, 2023

Judiciary Committee investigates IRS agent threatening taxpayer!An IRS agent used a fake identity to approach and threaten a taxpayer, following which House Judiciary Committee chairman Rep. Jim Jordan

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The IRS Flags Over 1 Million Tax Returns for Possible Identity Fraud

  • June 6, 2023

According to a recent report, the Internal Revenue Service (IRS) has flagged over 1 million 2022 tax returns for additional review over potential identity fraud.The Treasury Inspector General for Tax Administration’s interim

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