Blog
The IRS Cryptocurrency Crackdown
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...
What’s in a Name? The Business Value of YOU
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...
Surprise Nonpayment Notice? Mail Delays and Your Taxes
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...
It Still Pays to Build Green
The COVID-19 pandemic has held up many construction projects, including those that develop renewable energy. For this reason, the U.S. Treasury Department and IRS have modified the beginning of...
Eldercare and Your Taxes
As nursing homes and eldercare facilities have been in lockdown this year, you may have suddenly taken on primary caregiver responsibilities for a loved one. It’s a tough job and one that only...
Feds Now Prosecuting PPP Loan Fraud
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...
Law Firms: More Changes in Partnership Tax Forms Ahead
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...
IRS “Wealth Squad” to Audit Hundreds by October
The IRS is back to business, conducting new examinations of tax returns and enforcing collections. A top priority? It intends to audit hundreds of high-net-worth taxpayers by September 30,...
Syndicated Conservation Easements Get Complicated
Designating conservation easements on property can be a great way to preserve land while gaining a valuable tax break. But the IRS is cracking down on abuses of this practice by partnerships...
Tax Changes for Property Improvements and Business Losses
Some long-awaited great news for commercial property and business owners: The CARES Act that was passed in response to the COVID-19 pandemic includes technical corrections and additional...