Sep 29, 2020
Trading in Bitcoin? Getting paid by a client via Coinbase? It’s clear the IRS is no longer ignoring cryptocurrency activity. In fact, it’s planning to spotlight virtual currency front-and-center on the first page of your 2020 personal income tax return. “It first...
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Sep 22, 2020
In a significant move last year, the NCAA decided to allow individual athletes to profit from their own name, image, and likeness. While you may not be a superstar on the court, you might be able to “bank” on your name, too. If you’re a business...
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Sep 15, 2020
The IRS had up to 12 million pieces of unopened mail at one point this summer. That mail may have included your tax payment. And while that backlog is painstakingly sorted, you may have been shocked to receive a nonpayment notice along with threats of penalties and...
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Aug 25, 2020
For those who received PPP money during the pandemic and misused it, the time of reckoning is already here. More than a dozen criminal cases have been filed across 11 states involving PPP loan misuse. As the Los Angeles Times reports, these first cases involve...
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Aug 21, 2020
Have you seen the newly redesigned partnership tax form? The IRS would like taxpayer input on it before releasing it in 2021. According to the IRS, the proposed form is designed to provide greater clarity for partners on how to compute their U.S. income tax liability...
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