The IRS Puts a Full Stop on New Covid-Era ERC Claims: What it Means for Back Taxes and Small Businesses
Just when you thought you were getting a grip on your back taxes, the IRS throws another curveball into the mix. With …
The IRS Crack Down: A New Era of Tax Compliance or a Political Chess Game?
by Kelly Hanley, Esq. New Targets: IRS Auditors Cracking Down on 1,600 Millionaires and Millions of Dollars in 2023 The Internal Revenue …
IRS Denies Extension Request for Late Mark-to-Market Election (PLR-120645-22)
Accounting methods are paramount when calculating income and expenses for taxation purposes. One such method is the Mark-to-Market (MTM) method, as explained …
IRS Audit Focus on Large Partnerships and High-income Taxpayers
In a significant move, the Internal Revenue Service (IRS) has announced a shift in its audit focus, targeting large partnerships and high-income …
Tax Relief Guide for Those Affected by Hurricane Idalia
Hurricane Idalia has left a devastating impact on various parts of the United States, particularly in Florida and South Carolina. As communities …
Unpacking the IRS’s Latest Guidance on Inherited Retirement Accounts
Navigating the realm of inherited retirement accounts has always been a complex undertaking. The most recent developments only add to the intricacies. …
Understanding the Offer in Compromise (OIC) Process
The IRS Offer in Compromise (OIC) program allows qualifying taxpayers to settle their tax debts for less than the full amount owed, …
Did tax prep firms share data about millions of US taxpayers? Democrats say Yes.
In a world where privacy and data protection are central to individual and business security, recent revelations concerning major tax preparation firms …
IRS Tax Lien Withdrawal: A Recent Case Study
by Kelly Hanley, Esq. Federal Tax Lien Withdrawal Definition A “tax lien withdrawal” clears the public Notice of Federal Tax Lien, eliminating …
