Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
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RSBs Can Rescue Our Retirements
When Robert Merton, MIT finance professor and Economics Nobel laureate, speaks, we should listen. Fifty years ago, Merton, together with…
Your First Look At 2024 Tax Rates: Projected Brackets, Standard Deduction Amounts And More
The U.S. Bureau of Labor Statistics reported that the consumer price index (CPI) increased by 0.6% in August after rising…
Cryptocurrency And The Newly Proposed Tax Rules On Digital Assets
Garrett Brodeur, a tax attorney based in Washington, D.C., discusses the recently released proposed regulations for the cryptocurrency industry and…
Conservation Easements Under Scrutiny: How Jack Fisher’s Case Impacts The Industry
On Friday, September 22, 2023, a federal jury convicted Jack Fisher and James Sinnot of conspiracy to defraud the United…
IRS Gives Maine & Mass. Taxpayers Hurricane Tax Extension To Feb. 15
The IRS announced tax relief for individuals and businesses affected by Hurricane Lee anywhere in Maine and Massachusetts. These taxpayers…
Two Promoters Charged In Alleged Sham Trust Tax Shelter Fraud Scheme
Two individuals have been charged with allegedly promoting and selling abusive trust tax shelters to clients across the country. The…
IRS Gives Taxpayers Impacted By Hurricane Lee In Maine And Massachusetts More Time
Hurricane Lee made a dramatic impact in the northeastern part of the United States earlier this year, the third major…
History: Treasury Promised A 20-1 Return On Tax Enforcement, But Congress Slashed Funding Anyway
What’s the return on new money spent for tax enforcement? Over the years, the IRS has answered that question with…
ERC Moratorium – What Does That Mean?
The IRS announced on September 14, 2023 a processing moratorium on new employee retention credit (ERC) claims. This means that…
Breaking News: IRS Announces Game-Changer Group To Catch The 1%
The Internal Revenue Service (IRS) recently announced a major policy shift that could have a huge impact on the wealthiest…
Former Russian CFO Sentenced To 86 Months In Prison For Hiding Millions From IRS
Unrepentant. That's how federal prosecutors described Mark Anthony Gyetvay at his sentencing just before District Judge Joan N. Ericksen sentenced…
IRS Criminal Investigation Warns Illegal Gambling Isn’t A Safe Bet For Taxpayers
My fantasy football season is not off to a good start. In week two, I lost by 50 points—to my…
How Instacart’s IPO Delivers Liquidity Payday For Employees’ Stock Options And Restricted Stock Units
Instacart is the highest-profile venture-backed company to go public since December 2021. As with many later-stage startup companies, Instacart’s initial…
IRS Announces Next Steps In Plans To Focus On Pass-Throughs, Including Complex Partnerships
For weeks, the IRS has been teasing new compliance initiatives—including increased hiring—to focus on expanded enforcement work on complex partnerships,…
Why A House Bill To ‘Prevent’ A Shutdown May Increase The Odds Of One
Congress is in chaos with just 10 days remaining to avert a partial government shutdown. Over the weekend, negotiators for…
IRS Slams The Brakes On ERC Claims Over Suspicious Activities
Intro In a surprising move, the IRS recently announced an immediate stop to new Employee Retention Credit (ERC) processing, citing…
FTC Issues Warning To Five Tax Preparation Companies About Sharing Taxpayer Data
The Federal Trade Commission (FTC) has warned five tax preparation companies that they could face civil penalties if they use…
Pennsylvania Man Sentenced To Prison After His Mega-Mansion Attracted Notice From Feds
Joseph Nocito, age 81, of Sewickley, Pennsylvania, has been sentenced to one year and one day in prison for conspiring…