The Internal Revenue Service (IRS) might have opened tax season on time this year, but tax season is proving to be anything but ordinary. Initial statistics show that, compared with the last filing season, taxpayers aren’t rushing to file their returns. Tax season opened on January 28, 2019. In the first full week of tax season (ending…
As tax season heats up, the Department of Justice (DOJ) has issued a warning to taxpayers to beware of unscrupulous tax return preparers. Specifically, the DOJ is reminding taxpayers to remain wary of tax preparers who claim they can obtain larger refunds than other tax preparers, or who engage in dishonest practices. “Fraudulent tax return preparers harm…
I don’t prepare my own taxes. That wasn’t always the case. When we first started the law firm, I did taxes for the business and our family. And when we bought our rental property, I took that on, too. And then we had a kid. And another kid. And a third. At some point, juggling…
Who’s going to win Super Bowl LIII? So far, odds-makers have the New England Patriots edging out the Los Angeles Rams for the win in Atlanta. But not everyone is counting out the Rams: Gamblers are putting down big bucks, upwards of $1 million, in favor of the NFC Champions. MGM Resorts has reported a $2…
The Internal Revenue Service (IRS) was open for business on the first day of tax season, Monday, January 28, 2019. With the government shutdown over (at least for now), the IRS is trying to get back to normal. IRS Commissioner Chuck Rettig assured taxpayers, “The IRS will be doing everything it can to have a smooth…
Tax season kicked off on Monday, January 28, 2019, and the Internal Revenue Service (IRS) expects to process more than 150 million individual tax returns for the 2018 tax year. According to the agency, “through mid-day Monday, the IRS had already received several million tax returns during the busy opening hours.” But not everyone is…
The Internal Revenue Service (IRS) will be back to work processing tax returns and issuing tax refunds following an announcement that the government shutdown has ended. But the news hardly means that tax season will be normal: The IRS has indicated that it will take quite some time to recover. The IRS has told lawmakers…
The Internal Revenue Service (IRS) has issued an update about what taxpayers and tax professionals need to know about cases that might be pending in the United States Tax Court. As I reported earlier, the United States Tax Court shut down its operations as of Friday, December 28, 2018, at 11:59 p.m. and announced that it…
Less than a week before tax season is slated to open for the new filing season, Internal Revenue Service (IRS) doors remain largely closed. However, as part of the IRS Shutdown Contingency Plan, 46,052 employees have been designated as “excepted/exempt,” sending tens of thousands of IRS employees back to work without pay. However, some are fighting back by…
He originally vowed to fight tax charges against him, but Cristiano Ronaldo is now expected to plead guilty to tax fraud. In 2017, the soccer superstar was accused of failing to pay 14.7 million euros ($16.5 million US) in taxes. He was alleged to have avoided paying taxes by funneling income related to image rights, meaning his…