Skip to Content

IRS and cryptocurrency: Is it property or currency?

The Internal Revenue Service (IRS) has a reputation for making tax matters difficult. Filling out tax forms is not an easy matter, but the agency has made matters even more difficult when it comes to cryptocurrency. Why are tax matters for cryptocurrency so difficult? The biggest issue is the agency’s failure […]

IRS

Is EITC return preparer compliance program enough?

The IRS is not the only one to conduct audits. The Treasury Inspector General for Tax Administration (TIGTA) provides IRS oversight and occasionally audits how IRS procedures are working. Recently, it suggested improvements to address erroneous Earned Income Tax claims and persistently noncompliant return preparers. We have been following the topic […]

Blog

IRS settles class action lawsuits alleging discrimination

The Internal Revenue Service (IRS) recently settled class action lawsuits representing over 400 conservative groups that state they were “improperly” delayed tax-exempt status, according to a recent report by USA Today. It appears the federal agency singled out hundreds of groups due to their ideological stances. These groups underwent additional […]

Tax Controversy 

Underreporting business income can lead to prison time

Fraudulent business tax returns can come with prison time. That is the message the Internal Revenue Service (IRS) is trying to send with two recent cases. The federal agency recently sentenced three different individuals to imprisonment for errors on their corporate tax returns. How did corporate tax errors lead to […]

Tax Crimes

What happens when a PEO fails to remit employment taxes?

The employer is generally liable for the unpaid employment taxes. As the use of professional employer organizations increases, a recent case provides a warning. How does federal law define employer? This was at the crux of a case from earlier this year. Under the Internal Revenue Code, an employer has […]

Blog