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...
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Tax Audits
IRS releases 2023 Data Book describing agency’s transformation through statistics
The Results Are In! The IRS issued its annual Data Book with numerical data on a variety of topics related to tax assessments, collections, audits, and criminal cases. For the 2023 fiscal year, the IRS collected about $4.7 trillion, which represents 96% of the total...
IRS GOES AFTER HIGH INCOME TAX EARNERS
The IRS is after some 125,000 taxpayers with financial activity over $100 billion! The individuals will first receive a letter asking that they file a tax return for all years between 2017 through 2021 for which no tax return has been filed to date. Additional...
KNOW BEFORE FILING – IRS PRACTICAL TIPS
The IRS reminds taxpayers to wait until they have all of their tax documents to file their tax return each year. And to carefully review those records for any errors. As a tax attorney, I have seen numerous documents prepared with errors resulting in significant...
HOW THE IRS IS SPENDING THE $78 BILLION FROM CONGRESS
The Treasury Inspector General for Tax Administration has submitted a report on IRS spending. The largest amount by far is the $44 billion spent on tax enforcement, followed by nearly $26 billion on operations support. Taxpayer support is near the end of the list, at...
NEW IRS CRIMINAL INVESTIGATION EDUCATIONAL SESSIONS REGARDING VPD – DEADLINE LOOMS
The Internal Revenue Service continues to work on reviewing all claims regarding the Employee Retention Credit (ERC). The IRS strongly encourages businesses to utilize the Voluntary Disclosure Program (VDP) if they incorrectly claimed ERC but did not meet the...
IRS Adds Employee Retention Credit Claims to its 2023 Dirty Dozen Tax Scam List
In a further warning to individuals and businesses who may be tempted by too-good-to-be-true marketing, the Internal Revenue Service added the widely-circulating promoter claims involving Employee Retention Credits (ERCs) to its annual list of Dirty Dozen tax scams....
Income and Dividends and Assets, Oh My!
The IRS reminds taxpayers to report all of their worldwide income and ownership of some assets or transactions including cash payments, income from goods and services earned through the gig economy, transactions involving cryptocurrency, and ownership of certain...
TIGTA Reports on IRS Employment Tax Examination Processes
The Treasury Inspector General for Tax Administration (TIGTA) performed an audit of the IRS’ employment tax examination processes, and concluded in its February 13, 2023 report that improvements are necessary. Specifically, the classification process (classifying...
CDTFA Audit Program with Interest Relief
The California Department of Tax and Fee Administration (CDTFA) has updated its long-standing Managed Audit Program (MAP) publication which provides the explanation and benefits available to taxpayers participating in the program. Under the program, certain taxpayers...
