It is still not too late to claim the Child Tax Credit for 2021. Families who don’t owe taxes to the IRS can still file their 2021 tax return and claim the Child Tax Credit for the 2021 tax year at any point until April 15, 2025, without any penalty. This year also...
Your “hobby business” could land you in Tax Court – avoid IRS pitfalls by how you structure your small business. A hobby is any activity that a person pursues because they enjoy it and with no intention of making a profit. People operate a business with the intention...
Conspiracy Allegedly Involved Sale of Over $1.3 Billion in Fraudulent Tax Deductions The U.S. Justice Department (“DOJ”) announced on March 1, 2022 that a federal grand jury sitting in Atlanta, Georgia, returned a superseding indictment on February 24, 2022 charging...
Why You Should Not Disregard The April 18, 2022 Filing Deadline The most important thing everyone with a tax liability should do is file a return by the April 18th due date, even if they can’t pay in full, or request a six-month extension to avoid higher penalties for...
If you did not report your offshore accounts, cryptocurrency income or cannabis income earned before 2021, you should hold off on filing your 2021 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax...
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...
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...
Can Cannabis Help College Students Be More Motivated? According to a report published by the American Psychological Association in the journal Experimental and Clinical Psychopharmacology, new analysis out of the University Of Memphis contradicts the perception among...
Cryptocurrency was not well known and confusing for the general public to get comfortable with but with innovations in the industry starting in 2017, cryptocurrency is becoming more widely known and accepted as a means to do business. One of those innovations...
How Israel’s Kibbutzim Is Capitalizing On Global Medical Cannabis Production Israel’s communal farms known as “kibbutzim” have been on the brink of extinction as Israel’s economy becomes more capitalist but some kibbutzim are thriving thanks to the addition of a new...
