In December 2017, Congress enacted sweeping changes to the federal tax laws. There has been a great deal of discussion as to whether American workers would see significantly greater take-home pay as a result of the new tax...
Category: Blog
Coinbase Turning Over Information To the IRS Regarding Customers’ Investments in Bitcoins
February 28, 2018
By Joel N. Crouch, Blog
In previous blog posts (HERE) and (HERE), we have discussed the IRS and Department of Justice focus on virtual currencies and the IRS John Doe Summons that was served on Coinbase, the largest Bitcoin exchange in the United...
IRS Is Contacting Taxpayers Who Were Denied Access To or Withdrew From the Offshore Voluntary Disclosure Program
February 28, 2018
By Joel N. Crouch, Blog
Since the beginning of the year taxpayers who either were denied access to or withdrew from the IRS Offshore Voluntary Disclosure Program (OVDP) have been receiving Letter 5935 (HERE) from the IRS notifying them that they...
Judge Maurice B. Foley Announced as Next Chief Judge of US Tax Court
February 27, 2018
On February 26, 2018, the United States Tax Court announced that Judge Maurice B. Foley was elected Chief Judge to serve a two-year term beginning June 1, 2018. Judge Foley was originally appointed by President Clinton in...
Section 199A – Navigating the Maze of the New Pass-Through Deduction
January 25, 2018
By Meadows Collier, Blog
For taxable years beginning after December 31, 2017 and before January 1, 2026 individuals, estates and trusts are entitled to deduct 20% of their share of qualified business income from partnerships, S corporations and sole...