LATEST NEWS
Misleading consumers? Deceptive claims? Get ready to pay millions in fines
The Federal Trade Commission is extremely busy targeting businesses that
Navigating IRS letters of deficiency
Over the past twelve months, we’ve noticed a concerning rise in IRS deficiency notices (CP3219N) sent to taxpayers.
Do not get fooled – The IRS has plenty of resources and talent
You might have hear derogatory terms to refer to the IRS agents or to the entity in general,
S Corporation subject to IRS scrutiny, plus bonus on developments
Similar to the IRS focus on partnership that we shared in our last week post, the S Corporation
Most serious problems (IRS report): #5 Lack of competency of tax preparers
In the 2023 National Taxpayer Advocate report to Congress, this organization lists a number of issues that the
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Partnerships – New IRS form for property distributed in 2024, plus bonus on special transactions
The IRS has been putting more focus on partnerships in recent times. Back in June 2024, the IRS released a statement were
More regulations for digital assets and crypto brokers
From the IRS release in June 2024, there will be more reporting requirements to digital and crypto brokers (the ones taking possession
IRS increases standard deductions, estate tax exemp, annual gift, etc. due to inflation for 2025
As communicated each year, the IRS has updated some of the deductions, tax exemptions, tax exclusions and other tax items based on