Entries by Tax Attorney

How COVID-19 And Underfunding Impacts IRS Operations And Causes Refund Delays For Taxpayers.

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 […]

National Taxpayer Advocate Delivers 2021 Annual Report to Congress With No Mention Of Unfair Taxation Of Cannabis Businesses Or Uncertainty Of IRC Section 280E.

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 […]

IRS Examinations Of Cannabis Businesses Expected To Rise In 2022 – Are You Ready For An I.R.C. § 280E IRS Tax Audit?

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

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

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 […]

Getting Ready For Tax Season 2022 – What You Need To Know About Reporting Economic Impact Payments

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 […]