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How COVID-19 And Underfunding Impacts IRS Operations And Causes Refund Delays For Taxpayers. As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in dealing with the […]
As required by law, once a year the Taxpayer Advocate’s Office (an independent Federal government department that monitors the Internal Revenue Service) must send a report to Congress describing challenges the IRS is facing, problems experienced by taxpayers in dealing with the IRS and recommendations to resolve these problems. On January 12, 2022, National Taxpayer […]
Getting Ready For The 2022 Tax Filing Season This year taxpayers get at least 3 extra days to file! On January 10, 2022, the Internal Revenue Service (IRS) announced that it will process 2022 tax returns beginning January 24, 2022 (last year the opening date was February 12, 2021). The IRS states that the January […]
While the sale of cannabis is legal in California as well as in a growing number of states, cannabis remains a Schedule 1 narcotic under Federal law, the Controlled Substances Act. As such businesses in the cannabis industry are not treated like ordinary businesses. Despite state laws allowing cannabis, it remains illegal on a federal level […]
IRS Criminal Investigation Division Releases Its Top Cases Of 2021 On January 3, 2022 the Internal Revenue Service Criminal Investigation (IRS-CI) began listing he top 10 cases for calendar year 2021 on its Twitter account which are considered to me the agency’s most prominent and high-profile investigations of 2021. IRS-CI is the criminal investigative arm of the IRS, […]
2021 Tax Filing Season – What High Income Taxpayers Should Know About Filing Late Tax Returns Every year, about 9 million taxpayers miss tax deadline or fail to file their tax returns according to data from the Internal Revenue Service. How To Handle Late Tax Returns? The Treasury Inspector General for Tax Administration on May 29, 2020 […]
New For 2022: Tax Rule Affecting People Who Use Venmo, Paypal Or Other Payment Apps. Why Tax Planning Is More Important If You Earn Income From The Gig Economy. From renting spare rooms and vacation homes to car rides or using a bike…name a service or a craft & handmade item marketplace and it’s probably […]
California Putting Pressure On Delinquent Taxpayers To Pay Don’t think that you can avoid California tax enforcement action just because we are in a pandemic. California is unique in the structure of its tax system. Most States operate under a single tax agency. The Federal government uses a single tax agency called the IRS. But […]
Getting Ready For Tax Season 2022 – What You Need To Know About Reporting Economic Impact Payments The third round of the Recovery Rebate Credit is authorized by the American Rescue Plan Act (ARPA) of 2021 which expanded the Child Tax Credit (CTC) for tax year 2021 only. Generally, this credit will increase the amount of your […]
IRS Expands Its Wave Of Tax Relief To Victims Of Hurricane Ida Hurricane Ida tax relief extended to February 15, 2022 for part or all of six qualifying states. The IRS announced on December 22, 2021 that victims of Hurricane Ida in six states now have until February 15, 2022, extended from January 3, 2022, […]
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