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Author: Lawrence Brown

Pros and cons of the IRS’ new voluntary disclosure process

The sunset of the Offshore Voluntary Disclosure Program (OVDP) in September of 2018 left many taxpayers wondering how the Internal Revenue Service (IRS) would handle future disclosures. Would the IRS choose to renew the program? Would another take its place? The agency recently provided some guidance. Can taxpayers voluntarily come into […]

Tax Crimes

IRS accuses tax preparer of cheating taxpayers

The United States Department of Justice (DOJ) and Internal Revenue Service (IRS) recently charged a tax preparation professional with 18 counts of aiding in the preparation of false tax returns. These charges were based on allegations the man filed fraudulent tax returns over a span of four tax years, from […]

Tax Crimes

New tax law takes a bite out of Cyber Monday

This time of year, Black Friday and Cyber Monday are in serious competition for retail shoppers. In the past, Cyber Monday has had one distinct advantage over Black Friday: a lower tax bill. Cyber Monday shoppers could often take advantage of a final bill that did not include state sales […]

IRS

Tax preparer convicted for fraud, faces decades imprisonment

The Internal Revenue Service’s (IRS) General Crimes Unit recently conducted an investigation of a tax preparation professional accused of using her client’s information to perpetuate a fraudulent tax scheme. The agency accused the tax professional of filing false tax returns and stealing the identities of former clients for her own […]

Tax Crimes

Too little withholding can lead to big tax bill in 2019

The Internal Revenue Service (IRS) has released another publication calling taxpayers to review their withholding status. The tip is a good one for taxpayers throughout the country. A failure to properly adjust one’s withholding status can result in a big tax surprise when filing one’s 2018 tax returns. Why the […]

IRS

IRS reminds tax preparers to renew PTINs for 2019

The Internal Revenue Service (IRS) recently reminded tax preparation professionals to renew their Preparer Tax Identification Numbers (PTINs) for 2019. The IRS states current PTINs expire on December 31, 2018. How do I renew my PTIN? Tax preparation professionals that currently hold a PTIN or are looking to apply for a […]

IRS

Woman sentenced to over three years prison time for tax crime

The United States Attorney’s Office recently accused a former special agent with the Internal Revenue Service (IRS) Criminal Investigation Division with various tax crimes. According to the government, the former agent thwarted tax obligations by using a number of different illegal methods to reduce her tax bill. Her alleged wrongdoing included: Deductions. The […]

Tax Crimes

Business owners: 3 fringe benefit tax changes for 2018

The Tax Cuts and Jobs Act (TCJA) passed at the end of 2017 resulted in significant tax reform that will begin with the 2018 tax year. These changes will impact most small businesses in many different ways. One impact: fringe benefits. The Internal Revenue Service (IRS) recently outlined three specific changes […]

IRS

Paying taxes October 15th? Two considerations to keep in mind.

Taxpayers that requested a six-month extension to their filing deadline are fast approaching Tax Day. Those who applied and were granted the extension are expected to file with the Internal Revenue Service (IRS) by October 15. Who applies for an extension on tax returns? This group often includes those who have […]

IRS