The U.S. Department of the Treasury announced a full court press to pass the Biden Administration’s American Families Plan. The Deputy Assistant Secretary for Economic Policy, Natasha Sarin, points to the Tax Gap, the “wealthy” … Continue reading Tax Gap Hysteria
Math Error Letter? Taxpayer Bill of Rights!
The IRS has mailed out 11 MILLION math error letters, 14X more than most years. And now the IRS expects payment. Attorney Steven A. Leahy knows what you can do – and When! The IRS … Continue reading Math Error Letter? Taxpayer Bill of Rights!
El Salvador Adoption Day!
Today September 7, 2021, El Salvador became the first country in the World to adopt Bitcoin as an official currency. And so, the experiment begins – but not without some drama. Bitcoin took a dive … Continue reading El Salvador Adoption Day!
Sweeping IRS Powers
The Biden Administration touts the “American Families Family Plan” as “an investment in our kids, our families, and our economic future.” A “once-in-a-generation investments in our nation’s future.” But what is hidden inside this bill … Continue reading Sweeping IRS Powers
Illinois Peppers SALT
The IRS and Congress has demonized Millionaires and Billionaires for not “paying their fair share.” Under the Tax Cuts and Jobs Act of 2017 higher income taxpayers were targeted to pay more taxes through a … Continue reading Illinois Peppers SALT
Crypto Gets Cred
Cryptocurrency is fast becoming mainstream. With Shark Tank’s Mr. Wonderful making a 180 on his outlook for the industry, El Salvador becoming the first nation in the world to adopt bitcoin as one of its … Continue reading Crypto Gets Cred
IRS Targets S Corporations
Small Business Operators can gain tax advantages by forming an S Corporation. But, there is more to it then forming a corporation and continuing your business as usual. The IRS sees a way to increase … Continue reading IRS Targets S Corporations
The IRS & Olympics
Olympic Gold has always been rewarding for the athlete, and the IRS. There has been a change to the tax treatment of winning a Gold medal – is it enough? Attorney Steven A. Leahy also … Continue reading The IRS & Olympics
IRS Backlog – What’s a Taxpayer to do?
The BIGGEST question on many taxpayers’ minds is “Where is my refund?” The IRS is way behind in processing tax returns and paying out refunds. Attorney Steven A. Leahy dives into the reasons the IRS … Continue reading IRS Backlog – What’s a Taxpayer to do?
What You Need To Know About Cryptocurrency & Taxes
One of the three Bogeymen the IRS is demonizing is Cryptocurrency (the other two are the “Tax Gap” and “Millionaires and Billionaires”). That means the IRS is targeting Crypto investors, exchanges, miners, and everything else … Continue reading What You Need To Know About Cryptocurrency & Taxes
