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Can Bankruptcy Resolve Your Federal Tax Debt?
The filing of bankruptcy puts an immediate halt on all IRS collection activities and a release on... more
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AICPA Asks IRS for Blanket 2019 Penalty Relief Due to COVID-19 Pandemic
As the COVID-19 pandemic continues to create unprecedented disruption and economic uncertainty, the... more
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IRS, You’ve Got Mail…Eleven Million Pieces of It
As the Internal Revenue Service (IRS) begins to recall its employees throughout the month of June,... more
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Maryland Expands Pass-through Entity Tax to Circumvent Federal SALT Limitation
Maryland has become the most recent state to adopt a workaround to the federal $10,000 state and... more
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IRS Suspends Tax Compliance Programs to Assist American Taxpayers During COVID-19 Crisis
On March 25, the Internal Revenue Service (IRS) announced its People First Initiative, which rolls... more
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Giving the Gift of Virtual Currency
With virtual currency (VC) gaining in popularity, charitable organizations have begun accepting VC... more
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Significant Retirement Changes under the SECURE ACT
As 2019 came to a close, the president signed into law the SECURE Act, which stands for “Setting... more
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Taxation of Virtual Currency—Are You Prepared?
New on the 2019 individual tax return is the following question: “At any time during 2019, did... more
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TAS Grants Temporary Relief to Some Taxpayers in Danger of Passport Revocation
The stress of owing taxes to the Internal Revenue Service (IRS) can be overwhelming. Unpaid taxes... more
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LLC Operating Agreement Can Terminate an S Corporation Election
Limited liability companies (LLC) should be careful that their operating agreement does not contain... more
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Does your ITIN Need To Be Renewed?
According to the Internal Revenue Service (IRS), about 2 million Individual Taxpayer Identification... more
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New IRS Guidance on Virtual Currency
The Internal Revenue Service (IRS) recently issued additional guidance on the tax treatment of... more