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IRS Taxpayer Advocate, Erin Collins, issued her Annual Report to Congress siting the high workforce at the IRS for improved services to taxpayers. For taxpayers who don’t require the human touch, and file tax returns electronically, with payments and refunds managed...
The filing season officially began this week with the IRS now accepting income tax returns for 2025. Anticipating approximately 164 million individual returns to be filed by April 15, 2026, the IRS has provided tools and filing options to assist taxpayers with...
The IRS marked this week as Identity Theft Awareness to alert taxpayers to current common frauds. For example, some taxpayers are the victims of identity theft, when someone else files a false tax return, claiming huge deductions, in hopes of having a tax refund...
The One Big Beautiful Bill strikes again, this time benefiting members of the uniformed services. Certain active-duty members of the Army, Air Force, Navy, Marine Corp. and Space Force received a one-time supplemental payment of $1,776 which will not be taxable as...
The California State Controller’s Office recently announced a program to help businesses that are holding on to unclaimed property that should have been turned over to the state in the past. As an attorney and business owner, the matter of holding unclaimed property...
Following the recent discovery of the billions of taxpayer dollars in benefits fraud that Minnesota suffered, FinCEN (Financial Crimes Enforcement Network), a part of the U.S. Department of the Treasury, issued several initiatives including an order to require banks...
The IRS is making it easier for taxpayers to prepare for the filing season with updates and important information that may help lower your tax liability for 2025. By now, all taxpayers should have an online account with the IRS, which may be established or accessed...
Under the One, Big, Beautiful Bill, the IRS has issued proposed regulations that provide a new deduction for interest paid on vehicle loans incurred after December 31, 2024. This may be used by taxpayers regardless of whether they itemize their deductions or use the...
The Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has designed a reporting requirement to increase transparency of cash transactions in real estate, which will aid in deterring money laundering through real estate transactions. The reporting...
As long as people have been cheating on their taxes, other people have turned the tax cheats into the IRS. In 2007, the IRS launched a program to provide a portion of the proceeds to the whistleblowers. To date, the IRS has paid out over $1.4 billion to...
