The Internal Revenue Service (IRS) intends to audit hundreds of high net worth individuals and their related entities starting this month. The campaign, announced at a conference by a top IRS division commissioner, will...more
7/15/2020
/ Audits ,
C-Corporation ,
Foreign Assets ,
Gifts ,
High Net-Worth ,
IRS ,
Partnerships ,
Private Foundations ,
S-Corporation ,
Trusts ,
U.S. Treasury ,
Wealth Tax
Taxpayers should take prompt action to assess their situation, yet move carefully before making representations or filings to the IRS.
Over the past month, the Internal Revenue Service (IRS) has sent letters to over ten...more
8/21/2019
/ Amended Tax Returns ,
Bitcoin ,
Cryptocurrency ,
Failure to Report ,
Financial Transactions ,
Income Taxes ,
IRS ,
Reporting Requirements ,
Tax Audits ,
Tax Liability ,
Tax Returns ,
Virtual Currency ,
Warning Letters
The primary professional organization for accounting professionals (AICPA) recently renewed their requests to the Internal Revenue Service for U.S. virtual currency guidance on key tax issues. The IRS has not shown any...more