The Internal Revenue Service (IRS) has issued a notice urging taxpayers to be on guard for scammers posing as charities in the wake of Hurricanes Milton and Helene. They are seeing a wave of charity scams
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 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 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
Read MoreTax law has an exception for unconventional “homeowners”. If you are able to “itemize” your deductions, you can deduct the mortgage interest payments even when the deed to the house and the mortgage
Read MoreThe U.S. tax code does not allow taxpayers to deduct penalties assessed by the Internal Revenue Service (IRS). IRS penalties are typically assessed for violations of tax laws, such as misreporting income
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