The Impact of Farhy on IRS International Penalty Assessment
In a landmark decision that has sent ripples through the tax community, a 2023 U.S. Tax Court ruling, Farhy v. Commissioner, has …
The IRS’s New Tax Relief for Millions of Taxpayers Will Wipe Out $1 Billion in Penalties
By Kelly Hanley, Esq. In an unprecedented move to alleviate the financial strain caused by the COVID-19 pandemic, the Internal Revenue Service …
IRS Crackdown on 20,000 Employee Retention Credit Claims
The Internal Revenue Service (IRS) has recently taken a significant step in combating fraudulent tax practices by disallowing over 20,000 Employee Retention …
IRS CP504 Notices Are Back: Understanding Your Options and Next Steps
By Kelly Hanley, Esq., Tax Attorney Introduction Dealing with tax issues can be challenging, especially when faced with a CP504 Notice from …
The Shifting Landscape of IRS Reporting for E-Commerce: Understanding the Delayed $600 1099-K Reporting Requirement
Introduction E-commerce has seen a significant shift recently, especially concerning the IRS reporting rules. This change affects millions of Americans who engage …
Say Goodbye to the IRS SFR Nightmare: A Step-by-Step Guide
What does SFR mean? Hey, Chicagoans, ever opened your mailbox to find a letter from the IRS and felt your stomach drop …
Tax Woes? Hire A Pro! Don’t Let Unfiled Taxes Steal Your Peace
Hey, you up? Yeah, I figured. It’s that 3 a.m. dread, isn’t it? The one where you’re lying in bed, staring at …
The Surprising Reason Why You’re Just One Move Away from a Zero Balance with the IRS
Did you know that a staggering 14 million Americans owe back taxes to the IRS? Yeah, you read that right. Fourteen million. …
Unfiled Taxes During Divorce
Divorce is a complicated process that affects various aspects of life, including your financial situation. One area that often gets overlooked is …
