Tuesday June 21, 2022 – It is Crypto Tuesday! If you have been paying any attention to the Crypto market this past week – you watched the price of Bitcoin – and other tokens – … Continue reading Dead Cat Bounce?
IRSRobot
Monday June 20, 2022 – The IRS has been hammered in the Customer Service Department. Last year the IRS only answer 1 in every 9 phone calls. The IRS had plans to automate phone calls … Continue reading IRSRobot
ProPublica 1 year Later – $1 Billion More to IRS
Thursday June 16, 2022 – We just passed the one year anniversary of the ProPublica published the first pieces in a series dubbed “The Secret IRS Files: Inside the Tax Records of the .001%.” One … Continue reading ProPublica 1 year Later – $1 Billion More to IRS
Talk About IRS Backlog!
Wednesday June 15, 2022 – We all know of the infamous IRS backlog. We hear about it all the time. The Commissioner of Internal Revenue Charles Rettig has promised to resolve the backlog by the … Continue reading Talk About IRS Backlog!
Market Meltdown
Tuesday June 14, 2022 – What goes up, must come down. The old axiom rings true. Look at Bitcoin – the Gorilla of crypto – it was trading at nearly $70,000.00 in November 2021. Today, … Continue reading Market Meltdown
Understand IRS Form CP14
Monday June 13, 2022 – The IRS is not too active collecting immediately after tax season. After all, they have a lot to do. But, come to the end of June, into July, expect the … Continue reading Understand IRS Form CP14
IRS Under Siege! Says Yellen
Wednesday June 8, 2022 – United .States Treasury Secretary Janet Yellen appeared at a Senate Hearing on Tuesday and said “The IRS is under siege. It is suffering from huge underinvestment,” She, again, urged Congress … Continue reading IRS Under Siege! Says Yellen
Crypto = Commodity?
Tuesday June 7, 2022 – Legislation was introduced in Congress today that would classify the vast majority of digital assets as commodities, giving regulatory control to the Commodity Futures Trading Commission. The Bill is presented … Continue reading Crypto = Commodity?
State of Domicile vs Residency
Monday June 6, 2022 – Where you reside and where you are domiciled are not always the same, and may be VERY important when paying state taxes. My practice is in Illinois. Many Illinois residents … Continue reading State of Domicile vs Residency
IRS Examinations – By The Numbers
Wednesday June 1. 2022 – IRS Audits are called “Examinations.” And the IRS conducted 243,715 individual examinations in 2019. While the numbers have dropped – that is still a lot of audits. The Chrisley Tax … Continue reading IRS Examinations – By The Numbers
