The IRS reminded taxpayers this week to file their 2019 income tax returns before July 17th because the IRS has $1.5 billion in tax refunds just waiting for taxpayers to claim. The highest refund is $6,557 per taxpayer; the average refund is $893. Don’t wait! File...
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Month: June 2023
IRS National Taxpayer Advocate’s Mid-Year Report
National Taxpayer Advocate, Erin Collins, issued her mid-year report to Congress noting the improvements with the current tax reporting season compared to last year. Ms. Collins urges the IRS to make technology upgrades a top priority. To read the full report, click...
California Cannabis Excise Tax and Enforcement Changes
The responsibility for collecting and paying the cannabis excise tax to the California Department of Tax and Fee Administration (CDTFA) shifted from cannabis distributors to cannabis retailers effective January 1, 2023. Among other requirements, cannabis retailers now...
If it Sounds too Good to be True…
Who wouldn’t want to sell property tax free all while appearing charitable in the process? The clients of John Eickhoff, Jr. and Hoffman Associates, LLC learned the hard way that the Charitable Remainder Annuity Trust (CRAT) scheme promoted by Eickhoff and Hoffman...
