Change is inevitable but when it is beneficial to taxpayers, it is also good news. The IRS has extended certain tax provisions for individuals, including the above-the-line qualified tuition and related expenses deduction, mortgage insurance premiums treated as...
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Month: February 2020
High-Income Earners a Target for the IRS
Money may buy a lot of things, but it won’t buy time with the IRS. In an effort to ensure compliance and fairness, the IRS stated it will increase efforts concerning high-income taxpayers who have filed to timely file one or more years of tax returns. Read more...
Uber and Postmates Denied Injunctive Relief Against AB 5
Uber and Postmates hit another AB 5 roadblock this month when a California district court refused to enjoin enforcement of AB 5, finding that AB 5 is rationally related to the state’s valid interest in preventing misclassification of works, that the plaintiffs could...
Impressive Action to End Sophisticated Offshore Tax Evasion
The J5 joined forces recently to thwart tax evasion activities by an international financial institution located in Central America that facilitated the concealment and transfer of wealth around the world. This first-time action has paid off in achieving the joint...
Avoid “Ghost” Tax Return Preparers
The IRS recently warned taxpayers about a trend that could ultimately leave taxpayers spooked. Whenever taxpayers pay a professional to prepare their tax return, the tax professional must sign the tax return and include their PTIN number on the return. A “ghost” tax...
