Experience. Dedication. Results.
The IRS announced recently that errors on more types of tax returns can now be corrected electronically, which helps the IRS reduce the current backlog of amended returns more quickly. New forms that may be amended electronically include Forms 1040-NR, U.S....
Erin Collins, National Taxpayer Advocate, issued her mid-year report to Congress. Ms. Collins shares her great concern over the IRS’ backlog, and the long delays taxpayers face. Part of the problem is the number of returns requiring manual processing. At the end...
Taxpayers with significant FBAR non-willful penalties may breathe a sigh of financial relief if the U.S. Supreme Court decides the FBAR non-willful penalty is per form, not per account. Yesterday, the U.S. Supreme Court granted certiorari in Bittner, Alexandru v. U.S....
The IRS has been working hard to catch up on the processing of 2021 income tax returns and related correspondence that were delayed due to the pandemic and staffing shortages. More than 4.7 million original individual income tax returns were filed in 2021; by the end...
The IRS has answered more than 3 million calls through its new electronic voice bot since January 2022, and anticipates many more, as it expands the services provided to eligible taxpayers. Now an individual can verify their identity to set up or even modify a...
Guy Ficco is the new Deputy Chief at the IRS who will oversee approximately 2,000 special agents seeking to thwart tax fraud and financial crimes. Ficco is well-versed in tax crimes having served as the IRS Criminal Investigation Division’s Executive Director of...
While micro-captive insurance policies may be about as clear as mud to many people, what is crystal clear is that a U.S. Court of Appeals affirmed the IRS’ position that abusive micro-captive insurance transactions are sham transactions resulting in a disallowance of...
Now that filing season is done, many tax professionals are taking a well-deserved break – but the IRS warns that tax scammers work all year long. Spear phishing was featured on this year’s “Dirty Dozen” list of common scams for tax professionals to be aware of. Spear...
For more than a decade, two owners of Tony Luke’s Philadelphia Cheesesteak Restaurant paid employees partially in cash in order to defraud the IRS by reporting and paying lower payroll taxes. They were also charged with conspiracy to defraud the government by...
In December 2000, Robin J. McPherson, formerly of San Diego, plead guilty of conspiring to defraud the IRS, and for tax evasion. McPherson was the President, CEO, and co-owner of Continental Wireless Cable, Inc., a telemarketing company that sold more than $30...
