Tag Archives for " failure-to-pay penalties "
What You Should Know About Winning a Lottery Jackpot
It’s definitely not likely you’ll hit big. But if you win, you could be happy for years to come – no matter what the naysayers tell you about winning a lottery.Your Chances of Winning Big are Itty
Read MoreCompanies 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 MoreCybersecurity firm warns of a new threat to tax pros
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
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 MoreLawmakers Demand The IRS Deal with Backlog ASAP
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
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 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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