Jan 23, 2024
With war, natural disasters, and other tragedies happening worldwide, you may want to donate to the global causes you believe in. But what are the tax implications of giving to charities abroad? Donating to charity has its own rewards, well above and beyond tax...
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Jan 21, 2024
The IRS recently updated the public on how it’s been spending its cash infusion, including new online accounts and mobile-friendly forms. It also announced an end to surprise visits from tax collectors. “We’ve started transforming IRS operations,” IRS Commissioner...
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Dec 12, 2023
You may be experimenting with ChatGPT and other AI, and so is your bank. Financial institutions are incorporating AI into their services, but the road to innovation is fraught with risks. “AI systems have been widely used for years, with banks spending billions to...
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Oct 10, 2023
The IRS was recently caught backdating a signature on a valuation penalty document—and then trying to talk their way out of trouble—in a giant conservation easement case. Legal experts wonder whether the IRS has backdated penalty documents in other similar cases,...
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Aug 22, 2023
The IRS recently updated the public on how it’s been spending its cash infusion, including new online accounts and mobile-friendly forms. It also announced an end to surprise visits from tax collectors. “We’ve started transforming IRS operations,” IRS Commissioner...
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Jul 25, 2023
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...
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