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IRS Liens Away From Many Repayment Requirements to Ease Taxpayers’ Burden During COVID-19 Pandemic
On Monday, November 2, the IRS announced a new initiative to help taxpayers who owe taxes to the... more
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Virtual Currency – New 1040 Disclosure
In 2019 the IRS introduced a new question on Schedule 1 of Form 1040 specifically asking if the... more
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Payroll Tax Deferral – Guidance Issued
The IRS has issued Notice 2020-65 to provide guidance on President... more
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Payroll Tax Deferral – What this Means to Your Business and Employees
In a memorandum issued on August 8th , President Trump has directed the Secretary of the Treasury... more
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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