Although the IRS performed well under difficult circumstances, Erin Collins, IRS National Taxpayer Advocate, dubbed 2021 the most challenging year taxpayers and tax professionals have ever experienced in her annual report to Congress issued in January. Among top...
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One Good Tax-Related Increase
For those taxpayers who plan to reduce their estates by giving annual gifts during their lifetimes, the IRS recently announced that they will be able to increase the donation from $15,000 to $16,000 this year (per taxpayer, per donor). With a federal estate tax of...
Taxpayers Can Protect Their Identities with an IRS Identity Protection PIN
The IRS Identity Protection Personal Identification Number (IP PIN) is a six-digit number assigned to eligible taxpayers to help prevent other people from using their social security numbers or taxpayer identification numbers fraudulently. To obtain an IP PIN online,...
IRS Top 10 Criminal Cases of 2021
From bitcoin exchange owners to a former pastor, the IRS identifies the top 10 criminal cases of 2021 which includes frauds that were committed against charitable organizations, unsuspecting consumers of solar products, illegal investment scams known as Ponzi schemes,...
Malta Pension Funds Deemed Taxable in the U.S.
Receive a pension distribution from a Malta pension fund? If you are a U.S. citizen, you will be unhappy to learn that the distribution is taxable for U.S. purposes, following the discovery of abuse by U.S. taxpayers with no prior connection to Malta. Through a...
IRS Sees Dollar Signs in Marijuana Related Businesses
The IRS has determined it can collect far more in unpaid taxes from Marijuana Related Businesses (MRBs) than other industries ripe for audit. As a result, the IRS has been focusing on MRB audits for civil assessments which in some cases become criminal referrals. If...
Tax Fraud Teacher Charged
Traci Austin, the owner of Emeryville Tax Services in Brentwood, California, has been charged with not only preparing fraudulent tax returns for her clients, but also teaching students how to manipulate returns for profit as well. Austin allegedly charged her students...
Netflix Prevails Over County Tax
The Los Angeles County Superior Court has decided that streaming video providers like Netflix are not subject to local video service provider fees. This decision comes after the City of Lancaster filed a class action lawsuit (City of Lancaster v. Netflix et al.),...
Fiscal Year 2021 Financial Report
In the IRS’ Fiscal Year 2021 Financial Report, Charles P. Rettig, Commissioner of the Internal Revenue Service, reflects on the IRS’ progress and accomplishments over the last year. Between October 1, 2020 and September 30, 2021, $4 trillion in taxes were collected,...
Employment Tax Fraud Remains Top Priority of DOJ
Last week, the Department of Justice reported on several employment tax fraud cases. In Virginia, James C. Jones, Jr., an ambulance business owner, was arraigned and charged with multiple crimes including tax evasion and filing false tax returns. Mr. Jones allegedly...
