In grand finale style, the IRS released its last entry to its 2024 Dirty Dozen List with a catch-all listing of transactions and invitation to taxpayers to be a whistleblower. The IRS wrapped up its 2024 Dirty Dozen list with...
Category: Blog
The Trust Fund Recovery Penalty
April 9, 2024
By Joel N. Crouch, Blog
A business that has employees is required by the Internal Revenue Code to withhold payroll taxes and income taxes from the wages of its employees and to pay those withheld amounts, called trust fund taxes, to the IRS....
IRS Proposes Adding Certain CRATs to the Naughty List
April 8, 2024
By Joel N. Crouch, Blog
After a period of relative inactivity, over the last 18 months the IRS has increased the number of potential listed transactions including syndicated conservation easements, micro-captives, Malta pension plans and monetized...
Hobby Loss and Ranches – An Overview of Section 183
April 5, 2024
If a taxpayer undertakes an activity with the objective of making a profit, the expenses related to the activity are generally deductible and any excess losses related to the activity can be utilized in...
Last Friday, March 22, the IRS ERC Voluntary Disclosure program ended. So technically, there can be no more ERC Voluntary Disclosures. Interestingly the IRS announced that the program could potentially open at a later date....