Yesterday, the Internal Revenue Service announced the establishment of the IRS Office of Promoter Investigations. The new office will further expand on the efforts of the Promoter Investigations Coordinator that began last...
Texans, You (Probably) Didn’t Miss Your 2020 Federal Tax Return Filing Deadline; Here’s What You Need to Know
April 16, 2021
By Jana L. Simons, Blog
As mentioned in a prior blog post, 2020 tax year federal tax filing deadlines for Texans were postponed. As a result of the February 2021 winter storm that wreaked havoc on Texas, the IRS announced in late February that...
IRS Attempts to Use its latest Judicial Win to Scare Micro-Captive Participants into Submission
April 9, 2021
On the heels of its fourth judicial win in Tax Court, today the IRS urged participants in allegedly abusive micro-captive insurance arrangements to exit these transactions as soon as possible. For many taxpayers, this...
Missteps in Filing a Tax Return Come Back to Haunt the Taxpayer and Her Representative
March 9, 2021
By Joel N. Crouch, Blog
In prior blog posts (HERE) , I discussed the mailbox rule and filing tax returns with the IRS. A recent case in Michigan reiterates the lesson discussed in that blog post about always using certified or...
The 2021 year has brought many new developments, including, and most importantly, a new federal law that will require small, privately-owned companies to report their ultimate individual owners to the federal government. This...