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February 2020 Archives

Tax preparer accused of 29 counts of criminal tax evasion

The Internal Revenue Service (IRS) recently announced the arrest of a man charged with multiple counts of criminal tax fraud. The man was a tax return professional who allegedly committed these crimes during the course of his business. The agency claims the man had a reputation for getting clients high refunds - refunds the agency states were based on illegal claims within the clients’ filings designed to get the taxpayers an illegally inflated refund.

U.S. government takes new steps to address cryptocurrency

Digital currency, also referred to as cryptocurrency with examples like Bitcoin, continue to present hurdles for governments throughout the world. As discussed in a previous post, available here, the Internal Revenue Service (IRS) has made efforts to account for this asset. A recent report shows this government agency is not the only one responding to the continued presence of cryptocurrency.

IRS takes Facebook to court, again

The Internal Revenue Service (IRS) is trying, yet again, to hold Facebook accountable for tax obligations in the United States. If successful, the IRS could claim more than $9 billion dollars in tax payments. The most recent courtroom battle between the federal agency and the social media platform is just one in a series of battles around this issue that have been in the works for years, reaching back to transactions that took place in 2010.

Report finds two groups at highest risk of IRS tax audit

It is that time of year again. Taxpayers throughout the country are gathering tax forms and starting to figure out how to put together returns for the 2019 tax year. While getting this information together this tax season, some may wonder how the Internal Revenue Service (IRS) decides whether or not to conduct a tax audit.

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