Last week, a businessman from the city of Los Angeles was sentenced to a whopping 40 years behind bars for the tax crimes he committed. The charges involve his conspiring with a polygamist family from Utah in order to defraud … Continue reading
News & Articles
IRS Dirty Dozen – Fuel Fraud & Fake Charities
As usual, the IRS has recently released this year’s Dirty Dozen List. The scams of this year are both old and new, as we saw the same covid-19 relief scams as well as some corrupt tax professionals. Just like every … Continue reading
Slow Month for Private Sector – 145k Jobs Added in March
After seeing roughly 260,000 jobs added in the month of February, private employers saw a sharp decline in March, as only 145,000 jobs were added to the private sector. Although experts were expecting the number to be lower, it … Continue reading
New NFT Rules Proposed by IRS
Last week, the Internal Revenue Service released new proposals regarding non-fungible tokens (NFTs). This is very welcoming news for members of the accounting community because up until now, it seemed like the IRS was disregarding the actual value of these … Continue reading
How Does the IRS Contact Taxpayers? – DSJ Breakdown
According to the Internal Revenue Service, “the agency reaches out in multiple ways to educate taxpayers while ensuring it fairly enforces the nation’s tax laws.” The IRS also states that there are important factors to keep in mind about when … Continue reading
Stress Free Filing Season – So Far
When compared to last year’s filing season as well as other of the past, this year has been relatively stress-free for both filers and tax professionals. In addition, the IRS is said to be catching up on the backlog that … Continue reading
What Student Loan Borrowers Should Know About the ’23 Tax Season
This tax season might look a little different for student loan borrowers across the country for 2023. Biden’s plan for the cancellation of up to $20,000 in student debt for millions of Americans has been on hold because the supreme … Continue reading
Form 1099-K – More Time Given by IRS
Last week, the IRS made some much-needed additions to its frequently asked questions page. These new additions were made regarding form 1099-K, which is the form used to report information about taxpayers’ use of third-party payment networks.… Continue reading
NY Lawmakers Look to Tax Streaming Services and Delivery Fees
New Yorkers could be soon facing a tax on popular digital streaming services for entertainment avenues like music, TV, and audiobooks. However, it doesn’t stop there, lawmakers are also looking to add a fee for delivery services to raise money … Continue reading
Silicon Valley Bank Collapse – DSJ Breakdown
Ever since its initial collapse, Silicon Valley Bank(SVB) has been at the top of most news headlines around the United States. However, what many don’t know is that SVB was on the radar of the Federal Reserve well before its … Continue reading