Insights

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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
August 4, 2020
Blog

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
Blog

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
May 26, 2020
Blog

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
March 30, 2020
Blog

Giving the Gift of Virtual Currency

With virtual currency (VC) gaining in popularity, charitable organizations have begun accepting VC... more
February 4, 2020
Blog

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
January 13, 2020
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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
November 7, 2019
Blog

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
October 31, 2019
Blog

LLC Operating Agreement Can Terminate an S Corporation Election

Limited liability companies (LLC) should be careful that their operating agreement does not contain... more
October 30, 2019
Blog

Does your ITIN Need To Be Renewed?

According to the Internal Revenue Service (IRS), about 2 million Individual Taxpayer Identification... more
October 29, 2019
Blog

New IRS Guidance on Virtual Currency

The Internal Revenue Service (IRS) recently issued additional guidance on the tax treatment of... more
October 21, 2019