The IRS is testing the limits of the law of diminishing returns with the new digital asset reporting regime, announcing that it expects to receive eight (8) billion filings per year. Yes, billion with a “B”. As...
More money for the IRS means more audits for those with more money. It’s just that simple. Last week, Eric Cirelli of the IRS Large Business and International (LB&I) Division gave an update on the division’s...
Is non-compliance a problem money can solve? The IRS seems to think so, rolling out last week yet another set of enforcement initiatives based on Inflation Reduction Act funding. Like other recent initiatives that target...
The IRS is warning taxpayers not to claim improper art donation deductions (HERE) and provides tips to help people avoid getting ensnared by an illicit art donation promotion. The IRS says the following about how the scheme...
Uncle Sam’s curiosity is often insatiable. But at least he is willing to wait an additional 90 days, based on a newly proposed rule by the Treasury Department. Of course I’m talking about the new disclosure rules mandated...
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