A recent IRS ruling tying up a loose end in the 2020 economic-relief law could require many small businesses to pay taxes on government PPP aid meant to help through the pandemic.On Nov. 18, the agency
Read MoreAre employer gift cards taxable? Yes. In the past, employers could give employees cash or a cash equivalent gift such as a gift certificate for amounts less than $25 without any tax concern. These were
Read MoreA very common question that comes up in our tax legal defense work involves the term "tax evasion" and whether it is always considered a felony criminal offense.The short answer is, yes, tax evasion is
Read MoreBetween the political environment and the COVID-19 pandemic and its attendant stimulus packages, this year has seen more than its share of uncertainty around tax – which makes year-end tax planning all
Read MoreThe Internal Revenue Service recently posted a reminder that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for
Read MoreBankruptcy may be a popular remedy for towering balances on credit cards, getting houses out of foreclosure, and eliminating enormous medical bills. But bankruptcy can be used for more than that; it can
Read MoreThe Paycheck Protection Program (PPP) loans are a popular option for businesses struggling due to COVID-19, but understanding the tax obligations associated with them can be confusing and challenging,
Read MoreWe Americans will have a long menu of tax changes for the 2020 tax year...and it's never too early to start thinking about managing next year's return. And there's a lot of good news.Just a few months
Read MoreMany are asking if they still have to file on time if I owe taxes, in the midst of the COVID-19 outbreak. As a response, the Trump administration just announced $300 billion in tax deferrals as part of
Read MoreMaybe you've just finished preparing your tax return and you find that you owe the IRS a large sum, but you can’t afford to pay it. Are you going to jail? Probably not. The realization that you can’t
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