Out-of-state businesses can get into trouble with the Texas Comptroller’s Office in several ways. These include failing to collect Texas sales tax, failing to remit collected sales tax in a timely manner, and incorrectly calculating their Texas sales tax liability, among others. When facing scrutiny from the Texas Comptroller’s Office, […]
Category: Tax information
On May 13, 2026, the Internal Revenue Service (IRS) announced a “limited-time settlement opportunity” for eligible taxpayers to resolve conservation easement and historic preservation easement disputes. The IRS is allowing eligible taxpayers to settle their disputes without making an upfront payment, while warning that declining its settlement terms will lead […]
If you are a U.S. taxpayer who is living abroad, you were required to file your income tax return for the 2024 tax year by June 16, 2025. If you didn’t file by June 16—and you didn’t request an extension—your tax return is now late. What does this mean for […]
High-income and high-net-worth taxpayers who do not receive regular income with tax withholdings must file quarterly estimated tax returns with the Internal Revenue Service (IRS). Failure to file estimated tax returns when required can not only trigger steep penalties, but it can also trigger scrutiny in the form of an […]
What should you do if you discover that you made mistakes on last year’s federal returns when doing your taxes in 2025? Or, what if you already knew that you made mistakes, and you want to address them so that you are not at risk in the event of an […]
It’s the end of another year. While this is a time when many people do some last-minute tax planning, it is also a time when many people make all-too-common tax mistakes. The Internal Revenue Service (IRS) is intimately familiar with these mistakes—and it looks for them when examining taxpayers’ returns […]
While partnerships have long been on the Internal Revenue Service’s (IRS) enforcement radar, it has lacked the funding needed to target partnerships at scale and effectively audit large partnerships with billions of dollars in assets and annual revenue. But, this changed with the enactment of the Inflation Reduction Act in […]
On August 15, 2024, the Internal Revenue Service (IRS) announced that it is reopening the Employee Retention Credit (ERC) Voluntary Disclosure Program, effective immediately through November 22, 2024. As IRS Commissioner Danny Werfel explains in the IRS’ News Release, “[t]he limited reopening of the Voluntary Disclosure Program provides an opportunity for […]
The Internal Revenue Service (IRS) is continuing to prioritize Employee Retention Credit (ERC) compliance—both through enforcement and through initiatives offering claimants the opportunity to self-correct before their ERC filings trigger scrutiny. On August 15, 2024, the IRS announced that it is reopening its ERC Voluntary Disclosure Program (ERC VDP), and […]
In a recent News Release, the Internal Revenue Service (IRS) announced that it plans to crack down on the abuse of partnership tax “loopholes” over the coming years. As the News Release states: “As part of ongoing efforts to focus more attention on high-income compliance issues, the Internal Revenue Service […]