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IRS Warns of Higher Penalties for Tax Returns Filed after Sept. 14

IRS Warns of Higher Penalties for Tax Returns Filed after Sept. 14

IRS Warns of Higher Penalties for Tax Returns Filed after Sept. 14 This year, tax season may have seemed a bit more lax for a lot of taxpayers. The filing deadline was extended to July 15 as a result of … Continue reading

Fighting Illicit Activities through Cash Transaction Reporting

Fighting Illicit Activities through Cash Transaction Reporting

Fighting Illicit Activities through Cash Transaction Reporting A lot of criminals deal in cash in order to avoid detection by the authorities, including tax officials. But they know that if law enforcement starts looking closer into their lifestyles, they need … Continue reading

12 Threatening Tax Scams the IRS Urges Consumers to Watch Out For

12 Threatening Tax Scams the IRS Urges Consumers to Watch Out For

12 Threatening Tax Scams the IRS Urges Consumers to Watch Out For Tax scams are common. Everyone has to pay taxes, and people looking to steal your money or information will use that process to their advantage to take what … Continue reading

Is an Amended Tax Return Right for Your Client?

Is an Amended Tax Return Right for Your Client

Is an Amended Tax Return Right for Your Client? It’s easy enough for taxpayers to file an amended return using the form 1040-X. Usually, people opt to amend a return because they realize they can lower what they owed on … Continue reading

Excessive Fines Clause in Eighth Amendment Not Breached with FBAR Penalty

Excessive Fines Clause in Eighth Amendment Not Breached with FBAR Penalty

Excessive Fines Clause in Eighth Amendment Not Breached with $12.9 Million FBAR Penalty If you invest your money in other countries, or if you save money in foreign bank accounts, you have to report those assets to the IRS and … Continue reading

IRS Announces Focus on Non-Filing Taxpayers, to Step Up Enforcement Efforts

IRS Announces Focus on Non-Filing Taxpayers, to Step Up Enforcement Efforts

IRS Announces Focus on Non-Filing Taxpayers, to Step Up Enforcement Efforts The IRS is using more tools at its disposal to focus on those taxpayers who are not filing their annual tax return. Specifically, the agency will be focusing on … Continue reading

IRS Announces It Will Pay More Visits to High-Income Taxpayers

IRS Announces It Will Pay More Visits to High-Income Taxpayers

IRS Announces It Will Pay More Visits to High-Income Taxpayers It’s common knowledge that high-income earners and business owners often find ways to minimize or avoid their tax liability. They can do it legally by hiring accountants and other tax … Continue reading

IRS Cracks Down on Abusive Micro-Captive Transactions

Woman Calculating Expenses And Income

IRS Cracks Down on Abusive Micro-Captive Transactions For a long time, the IRS has been fighting the abuse of micro-captive transactions, which are designed to minimize a company’s tax obligation. The practice involves a complex series of transactions between a … Continue reading

IRS Implements Tax Compliance Education

Woman Showing Papers To Tax Consultant

IRS Implements Tax Compliance Education The IRS utilizes a number of strategies to ensure that individuals and businesses pay the taxes they owe and to do so on time. The agency provides plenty of information and education to ensure that … Continue reading

IRS Releases 2019 Report of Criminal Enforcement, Celebrates 100 Years of Investigations

IRS Releases 2019 Report of Criminal Enforcement, Celebrates 100 Years of Investigations Every year, the Internal Revenue Service publishes a report with information about its criminal enforcement efforts over the preceding 12 months. This past week, the IRS released the … Continue reading

Tax Court Denies Marijuana Dispensary’s Deductions and Rules that Section 280E is Not a Penalty Provision; Dissenting Opinion Finds that Section 280E is a Penalty

Tax Court Denies Marijuana Dispensary’s Deductions and Rules that Section 280E is Not a Penalty Provision; Dissenting Opinion Finds that Section 280E is a Penalty On October 23, 2019, the United States Tax Court issued its latest opinion regarding the … Continue reading

IRS Guidance on Tax Treatment for Virtual Currency

IRS Guidance on Tax Treatment for Virtual Currency Virtual currency is still currency in the eyes of the law. Why shouldn’t it be? You spend real money to buy it, and you can use it just like real money to … Continue reading

New Tax Gap Estimates from IRS Compliance Rates Remain Unchanged

New Tax Gap Estimates from IRS: Compliance Rates Remain Unchanged Every few years, the Internal Revenue Service looks at the latest tax gap: The difference between the taxes that are owed and the taxes that have been paid. The higher … Continue reading

IRS Settlement: Micro-Captive Insurance Schemes

IRS Settlement: Micro-Captive Insurance Schemes Companies often form what are known as “captive insurance companies” to protect themselves against loss. They create these companies themselves, invest their own money into them, and then use that money as insurance in case … Continue reading

IRS Proclaims New Tax Filing Obligations for Specific Expatriated Individuals

IRS Proclaims New Tax Filing Obligations for Specific Expatriated Individuals Just because you give up your U.S. citizenship doesn’t mean that you get out owing Uncle Sam. In an effort to get some former citizens to make good on their … Continue reading

IRS Lead Development Center and Devious Tax Schemes

Man In A Writing In a Paper On A Desk

IRS Lead Development Center and Devious Tax Schemes Taxes are big money. That’s why you have so many people out there trying to scam taxpayers out of their money, and that’s why you have so many taxpayers trying to avoid … Continue reading

2017 Las Vegas Tip Income Audits

Las Vegas Tip Income

2017 Las Vegas Tip Income Audits The IRS recently began tip income audits of Las Vegas nightclub and entertainment venue employees for the tax year 2017. This comes on the heels of 2016 audits of these same individuals. 2017 audits … Continue reading

Provisions of Taxpayer First Act Go into Effect

President Donald Trump

Provisions of Taxpayer First Act Go into Effect Earlier this summer, President Trump signed into law the Taxpayer First Act with the goal of overhauling the IRS and improving the customer service provided to taxpayers. Specifically, the act puts limits … Continue reading

IRS Sending Letters to Cryptocurrency Owners about Unpaid Taxes

Bitcoins

IRS Sending Letters to Cryptocurrency Owners about Unpaid Taxes If you buy and sell stocks, you likely know that you have to pay taxes on any gains that you make. Just because the money came from speculation and not your … Continue reading

New Tax Law Aims to Improve Customer Service

President Trump

New Tax Law Aims to Improve Customer Service President Trump signed a new law in July known as the “Taxpayer First Act of 2019.” The act went into effect on July 19, and it is designed to improve the overall … Continue reading

Got an IRS Notice? Don’t Panic

Woman Calculates Tax

Got an IRS Notice? Don’t Panic Opening your mailbox and finding anything marked from the IRS can fill you with dread – unless it’s about time for you to get a refund. But even when you’re expecting a refund, you … Continue reading

IRS Bars State SALT Cap Workarounds

Currency of the United States

IRS Bars State SALT Cap Workarounds The IRS rewards people who give money to charities, to a certain extent. It allows people who contribute to charities to deduct that money on their taxes as an itemized deduction, thereby reducing their … Continue reading

Las Vegas Tip Agreements And The Risk Of Opting Out

Client Tipping

LAS VEGAS TIP AGREEMENTS AND THE RISK OF OPTING OUT Many Las Vegas residents are nightclub, casino, or restaurant employees, and earn tip income in addition to their regular wages. Tips are considered wages and are subject to employment taxes, … Continue reading

U.S. Tax Court Issues Opinion on Filing False Returns

Dollar With Clock

U.S. Tax Court Issues Opinion on Filing False Returns Falsifying a tax return can lead to big penalties. Not only can you be ordered to pay the full tax amount owed plus interest, but you can also be ordered to … Continue reading

Nevada IRS Office Locations and Appointment Scheduling Tips

Woman Writing And Money By Her Side.

Nevada IRS Office Locations and Appointment Scheduling Tips If you have received a letter from the IRS notifying you that you are being audited, or if you have another tax issue that needs more in-person discussion rather than trying to … Continue reading

United States Tax Court Issues Opinion Updating Case Law for State Sanctioned Marijuana Businesses

Marijuana Businesses

United States Tax Court Issues Opinion Updating Case Law for State Sanctioned Marijuana Businesses On November 29, 2018, The United States Tax Court issued an opinion providing further guidance to state regulated marijuana businesses on the issues of business deductions, … Continue reading

IRS Changes to Voluntary Disclosure Procedures

Irs Changes To Voluntary Disclosure Procedures

IRS Changes to Voluntary Disclosure Procedures Individuals and corporations alike have long conducted business or invested their money overseas as a means to try to avoid tax liability here in the United States. They figure that the IRS can’t monitor … Continue reading

3 Ways to Find Out What the IRS Has on You

3 Ways to Find Out What the IRS Has on You You should file a tax return every year that you work or have other income to report. While you may only keep those tax returns or associated documents for … Continue reading

Negotiating Payment Plans with the IRS

Negotiating Payment Plans with the IRS A lot of people look forward to a nice tax refund at the end of the year, but some of us are unfortunate enough to owe the IRS instead. Some people miscalculate their tax … Continue reading

United States Tax Court Hands IRS Another Win Against Risk-Pooled Small Captives

United States Tax Court Hands IRS Another Win Against Risk-Pooled Small Captives On June 18, 2018, the United States Tax Court issued an opinion upholding the IRS’ notice of deficiency against Reserve Mechanical Corp., f.k.a. Reserve Casualty Corp. (Reserve), a … Continue reading

Tenth Circuit Upholds IRS’ Application of Section 280E Denying Business Expense Deductions to Medical Marijuana Dispensaries and References Sessions Memo, Rescinding the Cole Memo

IRS Section 280E

Tenth Circuit Upholds IRS’ Application of Section 280E Denying Business Expense Deductions to Medical Marijuana Dispensaries and References Sessions Memo, Rescinding the Cole Memo Over half of the country’s fifty states and the District of Columbia have legalized medical or … Continue reading

Bipartisan Changes Slated to Redesign IRS

IRS Lawyer

Bipartisan Changes Slated to Redesign IRS Big changes could be in store for the IRS if a legislative package that is currently receiving bipartisan support passes through Congress. Over the past year and a half, lawmakers have sought information from … Continue reading

IRS Announced End to Offshore Voluntary Disclosure Program in September 2018

Tax Lawyer

IRS Announced End to Offshore Voluntary Disclosure Program in September 2018 Taxpayers with undisclosed foreign earnings or assets will soon run out of time to share that information with the Internal Revenue Service. The Offshore Voluntary Disclosure Program was introduced … Continue reading

IRS’s Gaming Industry Tip Compliance Program

IRS’s Gaming Industry Tip Compliance Program

IRS’s Gaming Industry Tip Compliance Program Las Vegas is an international, first-class, tourist destination. As the city has matured, Las Vegas now hosts some of the finest celebrity-run restaurants and bars. Tourism and gaming drive the Las Vegas economy, and … Continue reading

IRS Posts Notice on Foreign Tax Guidelines, Says It Plans to Release More Information

IRS Posts Notice on Foreign Tax Guidelines, Says It Plans to Release More Information

IRS Posts Notice on Foreign Tax Guidelines, Says It Plans to Release More Information A lot changed with the Trump tax plan approved at the end of last year, and many individuals and businesses are scrambling to figure out how … Continue reading

IRS Urges Travelers Requiring Passports to Pay their Back Taxes or Enter into Payment Agreements

IRS Urges Travelers Requiring Passports to Pay their Back Taxes or Enter into Payment agreements

IRS Urges Travelers Requiring Passports to Pay their Back Taxes or Enter into Payment Agreements If You Plan to Travel with a Passport, You Better Pay Your Back Taxes or Get a Payment Plan. You likely already know that there … Continue reading

What Will the IRS Do to Enforce Collection?

What will the IRS do to enforce collection?

What Will the IRS Do to Enforce Collection? You can’t ignore a bill from the IRS the way you might be able to ignore a bill from the power company. The IRS won’t report you to the credit bureau and … Continue reading

Arizona and the IRS Contracting Debt Collection Companies

Arizona and the IRS contracting debt collection companies

Arizona and the IRS Contracting Debt Collection Companies You can’t always pay your tax bill on time. Sometimes, you end up owing more than you expected, and you’re blindsided by the bill come April. Other times, you know what’s coming, … Continue reading

Understanding the Different Notices from the IRS

Understanding the Different Notices from the IRS

Understanding the Different Notices from the IRS It’s the thing that no one wants to see when they open the mailbox: A letter from the IRS. The letter might actually be letting you know that you made a mistake on … Continue reading

IRS Releases New ACA Reporting Forms

irs tax international revenue service

IRS Releases New ACA Reporting Forms The year is closing in on us quickly, and before you know it, it will be time to start getting all your paperwork in order to file your taxes. If you run a business … Continue reading

How to Protect Yourself When the IRS Files a Lien against You

irs files lien against you

How to Protect Yourself When the IRS Files a Lien against You Failing to pay your tax bill can lead to big penalties. You can have your wages garnished, lose any future tax refund, and have your assets levied. If … Continue reading

What are IRS Whistleblowers?

irs whistleblowers

What are IRS Whistleblowers? You may have seen a movie or two where a “whistleblower” was at the core of some takedown of a corrupt company causing cancer by polluting the water or covering up the harmful side effects of … Continue reading

Rules of Conduct for IRS Auditors

conduct irs auditors silver law

Rules of Conduct for IRS Auditors Being audited by the IRS is one of the most terrifying experiences that many people can think of having. When you’re sitting across from that IRS auditor, the situation can seem even more intimidating. … Continue reading

IRS Launches More Rigorous e-Authentication Process

irs silver law

IRS Launches More Rigorous e-Authentication Process Identity theft is a growing threat in our increasingly connected society. While the Internet may make it easier to do things like pay bills or file our taxes, it also makes it easier for … Continue reading

Criminal Tax Evasion vs. Negligence

Criminal tax evasion Silver Law

Criminal Tax Evasion vs. Negligence Ignorance of the law is not a defense of the law. But ignorance of the law can show that there was no criminal intent. It can mean the difference between being found guilty of negligence … Continue reading

Section 530 Relief in Employment Tax Cases with the IRS

Employment tax cases.

Section 530 Relief in Employment Tax Cases with the IRS As a business owner, you have to manage a lot of complicated tax issues. It is important that you hire a qualified accountant or tax lawyer to help you manage … Continue reading

The Latest Government Efforts to Undermine Tax Evasion, Money Laundering and Corruption

The Latest Government Efforts to Undermine Tax Evasion, Money Laundering and Corruption Tax evasion doesn’t just cost the government – it costs us all. When businesses and people aren’t paying their fair share in taxes, the rest of us either … Continue reading

What is the Cohan Rule?

Our tax attorney Phoenix discusses The Cohan Rule

What is the Cohan Rule? You will pay a lot of money to run your business, including basic overhead like rent and utilities, as well as extras like flights to attend conferences or meals to entertain clients. Many of these … Continue reading

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Avoiding Innocent Spouse Relief from the Start

Problems from delinquent taxes

Avoiding Innocent Spouse Relief from the Start When you are married, you share everything. You share all the money you make, and you share the liability for any debts or taxes. That means that when your spouse gets snowballed by … Continue reading

Your Rights as a Taxpayer: The Arizona Taxpayer’s Bill of Rights

Your Rights as a Taxpayer: The Taxpayer's Bill of Rights

Your Rights as a Taxpayer: The Arizona Taxpayer’s Bill of Rights When most people think of taxes, they think about their obligations – what they have to pay and the fines and penalties they will face if they don’t. Most … Continue reading

The IRS Takes Tax Evasion Seriously — No Matter Who You Are!

The IRS Takes Tax Evasion Seriously -- No Matter Who You Are!

The IRS Takes Tax Evasion Seriously – No Matter Who You Are! The IRS Takes Tax Evasion Seriously – No Matter Who You Are! Working with a Scottsdale tax attorney can help you minimize the penalties you have to pay … Continue reading

Repercussions of Not Filing a Tax Return in Phoenix

Phoenix Tax Representation

Repercussions of Not Filing a Tax Return in Phoenix Repercussions of Not Filing a Tax Return in Phoenix Working with a tax lawyer may be able to help you minimize the penalties you face if you fail to file your … Continue reading

How A Scottsdale Tax Lawyer May Help You Get an IRS Offer in Compromise

How A Scottsdale Tax Lawyer May Help You Get an IRS Offer in Compromise Not everyone who owes money to the IRS is a cheat who is trying to get out of their obligations. Some people don’t pay because they … Continue reading

DEALING WITH UNFILED EMPLOYMENT TAXES

Dealing with unfiled AZ employment taxes

DEALING WITH UNFILED EMPLOYMENT TAXES Taxes can take a big chunk out of your profits. You might dread the filing of your quarterly employment taxes knowing that you are going to have a big tax bill that you simply cannot … Continue reading

Form 8300 and Your Car Dealership’s Reporting Requirements

Learn more about Phoenix Arizona car dealership tax reporting requirements

Form 8300 and Your Car Dealership’s Reporting Requirements Any car dealer in Arizona that receives more than $10,000 in cash in a single transaction or related transactions must complete a Form 8300, Report of Cash Payments Over $10,000 Received in … Continue reading

Avoiding Unintentional Structuring of Cash Transactions

Avoiding Unintentional Structuring of Cash Transactions

Avoiding Unintentional Structuring of Cash Transactions Structuring is a strategy used by businesses that are attempting to evade taxes by hiding large amounts of cash. With structuring, companies deposit smaller amounts of cash to avoid automatic reporting by the bank … Continue reading

How to Avoid Worker Misclassification Issues

How to Avoid Worker Misclassification Issues

How to Avoid Worker Misclassification Issues Running a business is no small feat. There are a myriad of laws, regulations, and restrictions to observe and follow, and it is easy to overlook essential statutes. In recent years, worker misclassification has … Continue reading

When it Pays to Consult the Professional- The Top Five Reasons to Hire a Phoenix Tax Attorney!

Top 5 Reasons To Hire A Tax Lawyer in Phoenix Arizona

When it Pays to Consult the Professional- The Top Five Reasons to Hire a Phoenix Tax Attorney! The word taxes makes many Phoenix and Arizona residents cringe. This sentiment is intensified when the IRS gets involved. Luckily, many people are … Continue reading

Top 3 Stages of Tax Defense in Phoenix Arizona

Learn about the top 3 stages of tax defense in Phoenix

Top 3 Stages of Tax Defense in Phoenix Arizona No one ever wants to get a letter from the IRS saying that they’re been audited, but it does happen – perhaps more frequently than you might think. If the IRS … Continue reading

IRS Revised Guidelines Offshore Voluntary Disclosure Program

IRS Revised Guidelines Offshore Voluntary Disclosure Program On June 18, 2014, the IRS issued revised guidelines under the Offshore Voluntary Disclosure Program (OVDP). Under a new program called the Streamlined Domestic Offshore Procedure, if a taxpayer failure to file the … Continue reading

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