As the saying goes, “to err is human.” This statement applies to a variety of situations, including preparing taxes. Every year, taxpayers here in Texas and across the country make mistakes that could put them under suspicion by the IRS for criminal tax fraud. The best way to avoid such allegations is […]
Author: Lawrence Brown
Some Texas residents fail to meet the IRS’s yearly deadline. Instead of filing an extension, they simply forgo filing their tax returns. This may be due to a fear of the amount owed, the inability to pay any balanced owed or a lack of the proper documentation needed in order […]
Happy Tax Day! If that statement caused heart palpitations and frustration because you forgot to file and pay your tax obligations, take a deep breath and know that you are not alone. It is not uncommon for taxpayers to miss the tax deadline, add in the confusion that was running […]
The Internal Revenue Service (IRS) made some changes to reflect the impact of the current coronavirus pandemic. One example is the extended tax deadline. Instead of expecting taxpayers to file their taxes in April, the agency pushed the deadline back. At the time of this post, the deadline remained set […]
The Department of Justice (DOJ) recently accused a Texas family of running an elaborate and illegal gambling business. They claim the family would funnel the money used for to run the gambling business through two legitimate businesses: the family car dealership and a holding company for the family car dealership. […]
The Internal Revenue Service (IRS) may have a new focus during its next set of audits: the wealthy. The agency recently announced an initiative that focuses on taxpayers with high wealth. Who will the IRS focus on during these audits? It appears the agency will focus on a specific group […]
The Treasury Inspector General for Tax Administration (TIGTA) recently released a report that led to some negative publicity for the Internal Revenue Service (IRS). The report shows the IRS failed to hold over 30,000 tax return professionals accountable for their own tax bills. What was this report? The report focused […]
Israeli model and television personality Bar Refaeli recently agreed to sign a plea bargain agreement to settle a long-standing tax dispute against the top model and her family. The terms of the agreement include 16 months imprisonment for the celebrity’s mother and nine months of community service for the model. […]
Federal prosecutors recently announced criminal charges against a tax preparation professional from San Antonio, Texas. The prosecutors have charged the man with two counts of assisting in the preparation of false tax returns and one count of filing false or fraudulent returns for his own, personal tax returns. What were […]
July 15, the upcoming tax filing deadline, is fast approaching. Those who own cryptocurrency through Coinbase, Bitcoin or another platform may have questions about reporting requirements. Two tips that will help to reduce the risk of issues with the Internal Revenue Service (IRS) regarding this asset include taking time to organize relevant […]