Tag Archives for " taxes 2022 "

SCOTUS Slashes IRS Penalty Against Taxpayer for Not Reporting Foreign Bank Accounts

  • March 23, 2023

The Supreme Court ruled 5–4 in a fractured opinion on Feb. 28 that the IRS imposed an excessive fine on a businessman for failing to report foreign bank accounts, reducing the financial penalty from

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Ex-IRS Agent Sounds Alarm on What’s Coming Next

  • March 22, 2023

Gun-Toting Wing of IRS wants to ‘put the fear of God in people’: ex-agentAs the Internal Revenue Service seeks to bolster the ranks of its weapon-carrying IRS Criminal Investigation unit, a former

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IRS Targets Gig Workers and Foreign Income Recipients

  • March 22, 2023

Taxpayers face consequences for failing to meet certain tax obligations.The Internal Revenue Service (IRS) recently issued a notice to “gig economy” service workers and those who receive a foreign

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Tax Filers Must Answer New Crypto Question or Face Consequences

  • February 10, 2023

The Internal Revenue Service (IRS) issued an alert recently to taxpayers, reminding them that they must report all digital asset-related income and answer a new digital assets question on their 2022 federal

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What the Wealthy Can Fear from a New IRS Law on $600 Payments

  • December 13, 2022

A new IRS law that requires cash apps and online marketplaces including Venmo and eBay to send tax documents to millions of Americans is ensnaring a surprising demographic: the wealthy.Under the rule,

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What the $80 Billion in IRS Funding Means for Your Tax Return

  • December 13, 2022

Should taxpayers expect more scrutiny from the Internal Revenue Service, a chunk of whose $80 billion in additional IRS funding will pay for more auditors to ferret out tax cheats?Shortage of IRS accountants

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What Is a 1099-K? Who Gets One and How It Works

  • December 12, 2022

Simply put, a 1099-K form is a record that a third-party payment network transferred at least $600 to you during the year.Did you get paid more than $600 in 2022 for goods or services through a third-party

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Now is the Time for Year-End Tax Planning

  • November 22, 2022

With only a little while left in 2022…It’s time to review your year-end tax plans.Knowing the federal tax breaks to take advantage of and the pitfalls to avoid can save you money. Let’s start

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IRS Criminal Investigators Probe COVID Fraud

  • October 25, 2022

Billions of dollars in fraud related to pandemic relief have been uncovered by a joint division of the Internal Revenue Service's Criminal Investigation unit and the Justice Department. The division, also

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Tax Relief For Victims of Hurricane Ian in Florida

  • October 24, 2022

The Internal Revenue Service (IRS) recently announced that individuals, households, and residents who have a business anywhere in the state of Florida qualify for Hurricane Ian tax relief. Here are

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