Advice

A new report from the IRS Small Business/Self Employed Division reveals that in Fiscal Year 2019 the division devoted attention to the agency-wide issue of non-filers and fraud. The report, a 28-page overview billed as annual from now on, focuses on program highlights, priorities and accomplishments of the SB/SE organization and its employees. SB/SE services
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President Donald Trump announced four executive actions on Saturday, including a temporary payroll tax deferral for some workers and continued expanded unemployment benefits, as the coronavirus pandemic continues to hobble the U.S. economy. The moves were criticized by Democrats and some Republicans as, variously, providing little real help, an unconstitutional power grab from Congress, and
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U.S. Senator Bernie Sanders said he will introduce legislation to tax what he called the “obscene wealth gains” from billionaires during the coronavirus crisis. Sanders, a self-described democratic socialist, made the announcement in a Twitter post Wednesday evening. Last year, while running for the Democratic nomination, Sanders embraced a proposal that would tax fortunes above
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Tamera Ripperda, the commissioner who runs the Internal Revenue Service’s Tax Exempt and Government Entities division, is retiring on Sept. 30 after 33 years at the IRS. Ripperda began working at the IRS’s Exempt Organizations unit in 1988 as a revenue agent. She has held executive leadership positions in three of the four services and
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Uncivil behavior; my client did it; 15 worthless payments; and other highlights of recent tax cases. New York: Preparer Richard Barker of the borough of Queens has pleaded guilty to conspiracy to defraud the U.S. by filing false returns. Barker owned and operated a tax prep business under the names Tax Depot and KPS Kampant,
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While the coronavirus pandemic may have moved the upcoming presidential election off the front burner for much of the spring and summer, it’s bound to move back as the fall approaches. With that in mind, Top 10 Firm Crowe has released this handy at-a-glance summary of the two candidates’ proposed policies for taxes on individuals.
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The Internal Revenue Service has named James Lee as its new chief of the Criminal Investigation unit, starting Oct. 1. Lee is currently deputy chief of CI and a 25-year veteran of the organization. He will succeed current IRS CI chief Don Fort, who announced last month he plans to retire on Sept. 30. “Jim
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The Taxpayer Advocate Service will soon help taxpayers with Economic Impact Payment issues in certain situations. Previously, the IRS did not have a process to resolve EIP cases. “Given … recent changes, TAS will now accept cases for taxpayers whose EIP issues fall within one of the categories described and otherwise meet TAS criteria,” said
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With little time left for negotiations prior to the August recess scheduled to begin August 7, Republicans have unveiled a $1 trillion stimulus plan that includes further stimulus payments and modifications to the Paycheck Protection Program. “Surprisingly, the Senate version does not include the president’s payroll tax holiday that he requested, but instead has another
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Every filing season is different, but the one that just ended was very different, according to observers. Some of the factors adding to the confusion were changing deadlines, changing rules for retirement plan distributions, the myriad programs offering loans, stimulus payments, teleworking nexus issues, and, for many taxpayers, just finding a preparer to prepare their
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Father-daughter dance; long-distance relationships; this auction is closed; and other highlights of recent tax cases. Garden Grove, California: Preparer Michael Hung Lee, 70, has pleaded guilty to federal criminal charges that he filed false returns and cheated the U.S. out of nearly $5 million. From 2014 to March 2018 Lee owned and operated the prep
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