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The IRS has released a new tool in the fight against felonious filing: the Identity Protection Personal Identification Number (IP PIN) system. Taxpayers can now enroll in the IP PIN program and will receive a unique number only known by themselves and the IRS....
Public Law 86-272 has long been used to protect out-of-state businesses from being taxed on net income earned in other states if the only business activity of the company within the other states consists of the solicitation of orders for sales of tangible personal...
The FTB has once again issued letters to targeted taxpayers with large Schedule A itemized deductions or large Schedule C expenses, this time for tax year 2021. The FTB successfully used this strategy two years ago for tax returns filed for 2019. The benefit to...
A California tax preparer was sentenced to six years in federal prison and to pay nearly $500,000 in restitution for costing the IRS over $28 million in taxes by filing false tax returns for his clients. Salvador Gonzalez operated Grace’s Lighthouse Resource Center,...
The estimated tax gap calculates the difference between the amount of taxes collected and paid on time and the true tax liability. The projected tax gap for 2022 is $696 billion; $200 billion more than in 2014 through 2016. The tax gap looks at three main areas:...
Despite the IRS offering numerous tools to assist taxpayers with their tax woes, Offer in Compromise (OIC) “mills” are preying on individuals in tax debt by promising “pennies-on-the-dollar” settlements. The OIC program is in place to help taxpayers settle their tax...
The U.S. Government Accountability Office (GAO) reported recently on how Artificial Intelligence (AI) may help the IRS close its tax gap. The tax gap represents the hundreds of millions of dollars in tax that goes unreported and unpaid each year. The GAO reported...
Due to the Inflation Reduction Act, within the first six months of two new initiatives focusing on high-income taxpayers, the IRS has been paid over $1.1 billion from these high earners. In addition to the initiatives concentrated on collecting the tax due from...
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...
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...
