Chances are you are involved in one of these areas – Income from the Gig Economy, Dealing with Virtual Currency, or Having Foreign Source Income And Assets. If so, pay particular attention to what the IRS will be looking for on your 2022 income tax return. Gig economy earnings are taxable Generally, income earned from […]
The IRS and Franchise Tax Board (“FTB”) may grant individuals and businesses additional time to file or pay when a major disaster in their area is declared by the federal or state government. California generally follows the IRS extended deadlines to file and pay taxes. Impacted taxpayers may also be eligible to claim a disaster […]
A simple mistake, oversight, or your accountant’s malpractice may trigger an IRS criminal investigation. Specifically, unreported income, mismatch of information on a tax return versus third-party reporting information, a false statement, the use of an impermissible accounting or banking service, or declaring too many deductions are things that could initiate an audit, which could then […]
The IRS announced on May 2, 2023 that April 12 to 14 Storm victims in parts of Florida now have until August 15, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on April 3, 2023 that March 31 Storm victims in parts […]
On April 24, 2023 the IRS issued Notice 2023-34 as an update to its previous Notice 2014-21 governing taxation of cryptocurrency. The IRS in 2014 issued Notice 2014-21 stating that it treats crypto currency as property for tax purposes. At the time this Notice was issued, the IRS recognized that in no legal jurisdiction were digital […]
The IRS announced on April 18, 2023 that March 31/April 1 Storm victims in parts of Indiana now have until July 31, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on April 3, 2023 that March 31 Storm victims in parts of […]
The IRS announced on April 10, 2023 that March 31 Storm victims in parts of Tennessee now have until July 31, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on April 3, 2023 that March 31 Storm victims in parts of Arkansas now […]
Danny Werfel was sworn in as the 50th IRS Commissioner on April 4, 2023. Given the $80 billion in new funding that the IRS is receiving under the Inflation Reduction Act, one of his first tasks is to produce the IRS’s strategic operating plan on how it will spend these funds. Commissioner Werfel promised “real […]
The IRS announced on April 3, 2023 that March 31 Storm victims in parts of Arkansas now have until July 31, 2023 to file various federal individual and business tax returns and make tax payments. Other Areas Having Extended Deadlines: The IRS announced on January 10, 2023 that California storm victims have until May 15, 2023 […]
If you did not report your offshore accounts, cryptocurrency income or cannabis income earned before 2022, you should hold off on filing your 2022 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax return. The IRS will automatically grant you an additional time to file your […]
Get a Tax Resolution Development Plan from us first before you attempt to deal with the IRS. There are several options for you to meet or connect with Board Certified Tax Attorney Jeffrey B. Kahn. Jeff will review your situation and go over your options and best strategy to resolve your tax problems. This is more than a mere consultation. You will get the strategy or plan to move forward to resolve your tax problems! Jeff’s office can set up a date and time that is convenient for you. By the end of your Tax Resolution Development Plan Session, if you desire to hire us to implement the strategy or plan, Jeff would quote you our fees and apply in full the session fee paid for the Tax Resolution Development Plan Session.
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