Tag Archives for " failure-to-pay penalties "

Companies Worry About Crypto Accounting & Taxes

  • April 26, 2022

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

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Cybersecurity firm warns of a new threat to tax pros

  • April 25, 2022

As tax season comes to a close, researchers at a cybersecurity company are seeing a new type of phishing attack embedded within documents sent via email to tax professionals.Consumers aren’t the

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The IRS is Going on a Hiring Spree

  • March 18, 2022

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

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Lawmakers Demand The IRS Deal with Backlog ASAP

  • January 12, 2022

A group of 99 House Republicans has sent a letter to Internal Revenue Service Commissioner Charles Rettig asking for information about how the IRS plans to fix the backlog of unprocessed tax returns before

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The IRS Signs Three New Collection Agencies

  • October 21, 2021

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

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The latest tax avoidance trick probably isn’t for you

  • September 27, 2021

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,

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Bombshell tax draft throws a curveball at the wealthy

  • September 27, 2021

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

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IRS switched strategies for pursuing the wealthy, but came up short

  • July 21, 2021

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

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U.S. Treasury Announces New Cryptocurrency Tax Reporting Requirements

  • June 14, 2021

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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Biden Seeks $80 Billion to Bolster IRS, Tax Enforcement!

  • June 11, 2021

To frame this article in the proper context, the Biden administration and Congress are seeking to pump a lot of funding to the IRS, to increase enforcement against tax delinquency, among other things.

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