Are You Effected By The June 2019 Texas Severe Storms And Flooding? IRS Is Providing You With Tax Relief And Extending Upcoming Tax Deadlines. The IRS announced on July 18, 2019 that victims of the severe storms and flooding that took place on June 24 to 25, 2019 in Texas may qualify for tax relief. […]
Important Tax Tips To Know If You Receive Income From Uber, Lyft, Airbnb Or Other Online Platform During my last ride on Lyft, I was thinking about how the IRS is responding to the growing usage of many online platforms like Uber, Lyft and Airbnb in what is commonly referred to as the “sharing economy”. […]
If You Have Cryptocurrency, Pay Attention To What The IRS Has In Store For You After years of analyzing data from third parties involved in the cryptocurrency exchanges, the IRS announced in a press release on July 26, 2019 that it has started sending letters to cryptocurrency owners advising them to report their cryptocurrency transactions […]
10,000 Cryptocurrency Owners Will Receive Warning Letters From The IRS After years of analyzing data from third parties involved in the cryptocurrency exchanges, the IRS announced in a press release on July 26, 2019 that it has started sending letters to cryptocurrency owners advising them to report their cryptocurrency transactions and pay their taxes. More […]
Beware That Divorce Or Separation May Have An Effect On Your Taxes Taxpayers should be aware of tax law changes related to alimony and separation payments. These payments are made after a divorce or separation. The Tax Cuts and Jobs Act changed the rules around them, which will affect certain taxpayers when they file their […]
Anyone conducting business in cannabis surely knows that under Federal law (Controlled Substances Act 21 U.S.C. 801) marijuana is designated as a Schedule I controlled substance due to the historical belief that it has a high potential for abuse, no currently accepted medical use in treatment, and lack of accepted safety for use under medical […]
Congressman Emmer Welcomes IRS Response On Guidelines For Reporting Virtual Currency On May 20, 2019 Congressman Tom Emmer (MN-R) announced in a press release that the IRS finally responded his letter that along with his fellow co-chairs of the Congressional Blockchain Caucus (current members being: Rep. Tom Emmer, Rep. Bill Foster (IL-D), Rep. David Schweikert […]
On July 10, 2019 the House Judiciary Committee lead by Chairman Jerrold Nadler (D-NY) delivered the following opening remarks during a Subcommittee on Crime, Terrorism, and Homeland Security hearing on “Marijuana Laws in America: Racial Justice and the Need for Reform” which also appears in his press release issued after the hearing: “Marijuana is one […]
Facts To Know When The IRS Sends A Private Debt Collection Service To Collect On IRS Debt. You would think that with all the fraudulent calls being made by parties presented themselves as working for the IRS to scam taxpayers out of money, the IRS would crackdown on this problem and tighten its reins. But […]
Beware 2019 Could Be A Banner Year For IRS Audits Of Cannabis Businesses. We previously reported in our blog that the Trump Administration organized a committee of federal agencies from across the government to combat public support for marijuana and cast state legalization measures in a negative light while attempting to portray the drug as […]
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