Imagine how tempting it would be if you had access to the federal income tax information of your neighbors, your boss, or an old boyfriend! The IRS implemented the Unauthorized Access, Attempted Access, or Inspection of Taxpayer Records (UNAX) program to help monitor...
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Know a Tax Cheat? Turn them in for a Whistleblower Reward!
There may not be a Hallmark card for National Whistleblower Day, but it has been a day celebrated by the IRS since the whistleblower reward program began in 2007. Since then, the IRS has collected $7 billion from non-compliant taxpayers and has paid over $1.2 billion...
Tax Compliance Efforts on a Trillion Dollar Industry: Virtual Currency
Through an audit of the IRS, the Treasury Inspector General for Tax Administration (TIGTA) found that despite the IRS Criminal Investigation unit investigating 390 cases and recommending 224 for prosecution between 2018 and 2023, the prevalence of virtual currency...
New Scams Are Targeting Tax Professionals and Taxpayers, Alike
The IRS and Security Summit are issuing warnings to tax professionals and individuals to be wary of the various schemes scammers use to obtain business and taxpayer information. While many of these schemes have been around for a while, scammers are becoming more...
The IRS Hits $1 Billion in Collections of Past Due Taxes from Millionaires!
The Inflation Reduction Act has assisted the IRS in funding programs to identify and collect taxes from high-income earners. The IRS specifically identified 1,600 taxpayers who earn more than $1 million per year and owe the IRS more than $250,000. From these...
IRS Taxpayer Advocate Discusses Pressing Issues Concerning the IRS
In her mid-year report, IRS Taxpayer Advocate, Erin Collins, identified three crucial areas where the IRS needs improvement to facilitate smoother and more efficient processing of returns. First, Ms. Collins emphasized how delays in resolving cases of identity theft...
Southern California CPA Pleads Guilty to Preparing False Tax Returns
A tax return preparer in Southern California pled guilty to operating a tax return preparation business that prepared over 11,000 tax returns, demanding refunds totaling over $38 million from the IRS beginning in 2013. Salvador Gonzalez, owner of Grace’s Lighthouse...
Cannabis Tax Revenue of $259.9 Million in Q1 2024
The CDTFA reports that $259.9 million has been collected in the first quarter of 2024 in sales and excise tax. In California, over $6 billion has been collected in tax from cannabis businesses since 2018. These taxes are used to fund childcare and early development...
IRS Warns of Scams Targeting Older Adults
Among the different scams individuals potentially face, a new scam is emerging where fraudsters pose as IRS or other government agents to defraud older adults. They use fear and intimidation tactics to convince older adults that they owe taxes or are due a refund....
IRS Warns: Don’t Believe Social Media Tax Advice
The IRS is encouraging taxpayers to ignore tax advice on social media in the wake of individuals falling for scams that claimed to get them a large refund. These scams are generally related to encouraging taxpayers to claim one of three specific tax credits that they...
