A new publication from the IRS aims to inform taxpayers of their basic rights when dealing with their taxes. The Internal Revenue Service (IRS) recently released a revised Taxpayer Bill of Rights. The document is posted on the agency’s website and was sent to homes across the country in thousands […]
Author: Lawrence Brown
Taxes are just one of many factors that can make it difficult for smaller businesses in Texas to compete and get a leg up in a marketplace that is increasingly dominated by large companies. At a pair of congressional hearings on July 22, 2015, federal lawmakers heard testimony about the […]
Lionel Messi is known throughout the world for his soccer abilities. The sports star has made millions off his success, making a profit from both his actual sporting ability as well as his image. Unfortunately, his image took a hit when he was accused of tax fraud in 2016. The […]
As we’ve discussed in a previous post, there are several positive aspects of using a Professional Employer Organization (PEO). Partnering with a PEO can result in significant cost savings in terms of health and unemployment insurance premiums, as well as much less hassle in terms of payroll, human resources issues […]
A new law signed recently by President Obama will change the filing deadline for reporting foreign financial assets, bringing it into alignment with the standard April 15 deadline for filing income tax returns. The change will take effect starting with the 2016 tax year. Who has to file an FBAR? […]
On behalf of Lawrence Brown A specialized unit conducts extensive examination of people and entities at the highest levels of wealth. According to Investment News in September 2017, the IRS budget has decreased by almost one-fifth since 2010 (adjusted for inflation) and its workforce by almost 15 percent. Still, the […]
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Do you need to know about an IRS investigation to get charged with obstruction of justice? It may seem like the answer is obvious. After all, how can throwing away old records be tantamount to a crime if you didn’t know the Internal Revenue Service (IRS) was conducting an investigation? […]
On behalf of Lawrence Brown The IRS is serious about taxing actual increases in value or income realized through transactions, employment and investment involving virtual currencies. The IRS treats Bitcoin and similar cryptocurrencies like real currency when used and valued in ways equivalent to traditional money. For example, if a […]
Project Fresh Start – Texas Taxpayer Amnesty Program A Chance for Businesses to Start Over If you own or operate a Texas-based company or an out-of-state company doing business in Texas, you know that you are required to pay many types of state and local taxes. If for any reason […]