News & Analysis as of November 15, 2024

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Income taxes are taxes that are collected on the individual earnings of persons or entities. Depending on the jurisdiction, income taxes are calculated and collected in a variety of ways. Some tax systems collect income taxes based on a progressive scheme, while others may utilize a proportional or regressive framework. less -

High Net Worth Individuals Get Warning From IRS

Foodman CPAs & Advisors on 4/16/2024

On 4/10/24, as part of its Dirty Dozen Campaign for 2024, the IRS issued a warning to High Net Worth Individuals regarding three tax traps designed for them by dishonest promoters and shady tax practitioners. High Net Worth...more

IRS-Criminal Investigations Counts Down the Top 10 Cases of 2021

Gray Reed on 1/10/2022

“The investigative work of 2021 has all the makings of a made for TV movie – embezzlement of funds from a nonprofit, a family fraud ring that stole millions in COVID-relief funds and a $1 billion Ponzi scheme used to buy...more

Privacy Tip #279 – IRS Imposters Targeting Students and Faculty

Robinson+Cole Data Privacy + Security Insider on 4/9/2021

How many times can we say that the Internal Revenue Service (IRS) will NOT email or telephone you? We will say it again. If you receive a telephone call, email or text from someone saying they are from the IRS, it is A SCAM....more

Treasury Relaxes Tax Payment Deadline

Tonkon Torp LLP on 3/19/2020

In response to the COVID-19 epidemic, the U.S. Treasury has issued a notice providing individual and corporate taxpayers with a three-month extension to pay income taxes that are otherwise due on April 15t without penalties...more

Data Privacy + Cybersecurity Insider - January 2018

Robinson & Cole LLP on 1/4/2018

Now is the Busy Season for Cyber Criminals Posing as Executives to Obtain W-2s - It’s the start of tax season, and many employers are sending W-2 forms to employees so they can get ready to file their tax returns. As was...more

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