Magnolia Pancake Haus
If you’re a San Antonian, you may not want to imagine your weekend without brunch at the city’s beloved Magnolia Pancake Haus.
IRS Gives Out Badges & Trust Us, You Don’t Want One
How does the IRS determine who gets flagged for potential tax fraud activity? The agency judges taxpayer actions against a list of over 60 “badges” or indications of fraud ranging from misrepresenting expenses and deductions to lying, bribery and concealment. Of course, badges are usually given out for a job well done. Receiving an IRS […]
What Is Reasonable Compensation?
Business owners and shareholders have some leeway on their compensation structures, to a point. The IRS has long held a standard called “reasonable compensation” that it uses to determine if, like Goldilocks, you got it just right. The trick to acing reasonable compensation, however, involves the same inherent challenge as many other IRS rules: it’s […]
Crypto Tax Investigations Ramp Up
The IRS claims its Criminal Investigation (CI) division can trace any crypto transaction and has used those capabilities to double crypto seizures. Among those cases, about half are tax related. Things started to heat up in 2022 when the IRS announced it was building “hundreds” of cases. For the first time, the IRS began using […]
Refuting Criminal Intent in Business Fraud Cases
Criminal intent can make or break a business fraud case. Yes, intent can be hard to prove, but it’s also difficult to refute when every arrow seems to point to one person, often the business owner. The case surrounding Theranos Founder Elizabeth Holmes is an example. “Holmes was found guilty on some charges but not […]