Entries by Jeff

Maryland Tax Preparer Pleads Guilty To Conspiring To Defraud the IRS

The U.S. Department Of Justice announced on March 5, 2021 in a press release that Anita Fortune, age 56, of Upper Marlboro, Maryland, who provided return preparation services under multiple business names, including Tax Terminatorz Inc., pleaded guilty to conspiracy to defraud the United States and aiding in the preparation of a false tax return. Guilty Plea. […]

First It Was Coinbase, Now It Is Poloniex – Court Authorizes Service of John Doe Summons Seeking Identities of U.S. Taxpayers Who Have Used Cryptocurrency

Cryptocurrency / Bitcoin – Is this the 21st century answer to hiding assets in Swiss bank accounts?  The IRS thinks this is the case which is why in 2018 the IRS announced a Virtual Currency Compliance Campaign to address tax noncompliance related to the use of virtual currency through outreach and examinations of taxpayers. The IRS will remain […]

More COVID-19 Tax Relief: IRS extends additional tax deadlines for individuals to May 17 and affirms deductibility of PPE

The IRS announced that individuals have until May 17, 2021 to meet certain deadlines that would normally fall on April 15th, such as making IRA contributions and filing certain claims for refund.  Additionally, the IRS announced that the purchase of personal protective equipment (PPE), such as masks, hand sanitizer and sanitizing wipes, for the primary purpose […]

“Tax Day” For Individuals To File And Pay Extended To May 17, 2021.

On March 17, 2021 The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. Formal guidance from the IRS will be forthcoming; however, it should be noted that this announcement […]

IRS Provides Tax Relief For Victims Of Texas Winter Storms

The IRS announced on February 22, 2021 that victims of this month’s winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and make tax payments. IRS Tax Relief Details The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA), […]

Justice Department Sues to Shut Down Florida Tax Return Preparers

The U.S. Attorney’s Office for the Southern District Of Florida announced on February 23, 2021 in a press release that the Justice Department (DOJ) filed a complaint in the U.S. District Court for the Southern District of Florida seeking to bar three Miami Gardens-area tax return preparers and their businesses and franchises, from owning or […]

Tax Relief During COVID-19: How taxpayers struggling with tax debts can benefit.

If you are struggling financially because of the pandemic you should tap into the IRS’ newest program – the “Taxpayer Relief Initiative” – with its expanded taxpayer options for making payments and alternatives to resolve balances owed. On November 2, 2020 The Internal Revenue Service announced a number of changes designed to help struggling taxpayers […]

Getting Ready For The 2021 Tax Filing Season

On January 15, 2021, the Internal Revenue Service (IRS) announced that it will process 2020 tax returns beginning February 12, 2021. Last year the opening date was January 27, 2020; however, for the 2021 tax filing season this had to be extended to allow the IRS time to do additional programming and testing of IRS […]