Recently, the U.S. Justice Department (“DOJ”) successfully secured injunctions from U.S Federal District Court for the Eastern District of New York barring Keith Sang, Kashana Sang, Tareek Lewis, Kimberly Brown and their business K&L Accounting Inc. from preparing...
IRS Tax Relief
IRS Looking For Taxpayers To Report Gig Economy Income, Virtual Currency Transactions, And Foreign Source Income And Assets
Chances are you are involved in one of these areas – Income from the Gig Economy, Dealing with Virtual Currency, or Having Foreign Source Income And Assets. If so, pay particular attention to what the IRS will be looking for on your 2021 income tax return. Gig economy...
IRS Making It Easier For Taxpayers To Come Into The Voluntary Disclosure Program
A tax crime is complete on the day the false return was filed. It is a federal crime for anyone to knowingly and willfully file an income tax return that he or she knows to be false in some material way. 26 U.S.C. § 7207 provides: Any person who willfully delivers or...
IRS To Consolidate Processing Centers Despite Huge Backlog Of Unanswered Taxpayer Inquiries
On February 7, 2022 the Treasury Inspector General For Tax Administration (“TIGTA”) issued a report evaluating the IRS’s efforts to close the Fresno California Tax Processing Center and its continued planned closure of the Austin Texas Tax Processing Center. The IRS...
Justice Department Shuts Down Three Tax Return Preparation Businesses
Recently in three separate cases, the U.S. Justice Department (“DOJ”) successfully secured injunctions from U.S Federal District Courts barring certain tax return preparation businesses from preparing tax returns and in some cases ordering the tax return preparers to...
Getting Ready For Tax Season 2022 – Did You Receive Your Third Round of Economic Impact Payments from IRS?
The IRS announced that as of February 26, 2022 all third-round Economic Impact Payments (EIP) have been issued and reminds people how to claim any remaining stimulus payment they’re entitled to on their 2021 income tax return as part of the 2021 Recovery Rebate...
How COVID-19 And Underfunding Impacts IRS Operations And Causes Refund Delays For Taxpayers.
As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in...
IRS Examinations Of Cannabis Businesses Expected To Rise In 2022 – Are You Ready For An I.R.C. § 280E IRS Tax Audit?
IRS Examinations Of Cannabis Businesses Expected To Rise In 2022 – Are You Ready For An I.R.C. § 280E IRS Tax Audit? While the sale of cannabis is legal in California as well as in a growing number of states, cannabis remains a Schedule 1 narcotic under Federal law,...
IRS Criminal Investigation Division Releases Its Top Cases Of 2021
On January 3, 2022 the Internal Revenue Service Criminal Investigation (IRS-CI) began listing he top 10 cases for calendar year 2021 on its Twitter account which are considered to me the agency’s most prominent and high-profile investigations of 2021. IRS-CI is the...
IRS Expands Its Wave Of Tax Relief To Victims Of Hurricane Ida
Hurricane Ida tax relief extended to February 15, 2022 for part or all of six qualifying states. The IRS announced on December 22, 2021 that victims of Hurricane Ida in six states now have until February 15, 2022, extended from January 3, 2022, to file various...