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Taxes, retirement and end of year preparations

Certain retirement savings plans allow for a tax deferment. The Internal Revenue Service (IRS) will eventually expect taxpayers to pay taxes on those savings. In most cases, the agency requires the taxpayer to start taking required minimum distributions (RMDs) and making payments when they reach the age of 70 and […]


Three tips to avoid a surprise tax bill

The United States tax system is complicated. To make matters even more difficult to navigate, the government recently changed the tax code with the Tax Cuts and Jobs Act (TCJA). A failure to follow the rules can result in serious fines and, depending on the mistake, potential imprisonment. The following […]


Texan man faces decades in prison for tax crime conviction

The Department of Justice (DOJ) continues to crackdown on allegations of tax crime. In fact, the agency is so serious about tax crime that it has a Tax Division composed of over 350 attorneys focused solely on criminal and civil tax crime litigation. These individuals investigate and prosecute those who the agency […]


3 things to know about the IRS and cryptocurrency

Cryptocurrency, also known as digital currency, is booming. This relatively new form of currency provides a unique issue for the Internal Revenue Service (IRS). But the IRS is learning. It is figuring out the best way to track down these accounts and hold taxpayers who may attempt to thwart their […]

Tax Crimes

Did the IRS just lower your GILTI tax?

The Internal Revenue Service (IRS) recently released final and proposed regulations dealing with the global intangible low-taxed income (GILTI) provision. This provision was part of the Tax Cuts and Jobs Act (TCJA). The new regulations include a high-tax exception (HTE) to the GILTI. One potential benefit: taxpayers may be able […]


Tax evasion and prison time: A case provides an example

Tax crimes can come with serious consequences. A recent case provides an example. The case involves government allegations an attorney committed tax evasion. After facing the allegations and reviewing the case, the attorney chose to agree to a plea deal. What were the accusations? The prosecution accused the attorney of failing to […]

Tax Crimes

Can you negotiate a deal over tax debt with the IRS?

Tax debt can quickly become unmanageable. What may start out as a few thousand dollars owed on back taxes can quickly escalate with penalties and interest. Taxpayers who find themselves facing this growing debt may question whether they will ever be able to settle their bills. In some cases, taxpayers […]


Taxes and retirement: 3 tips

Retirement may mean the end of work … but it does not mean the end of dealing with the Internal Revenue Service (IRS). Depending on your retirement planning strategy, some of your income may remain taxable in retirement. Tip #1: Avoid stacked taxes Distributions from a 401(k) or IRA are […]