Alternatives to Innocent Spouse for relief from joint tax debt Anyone who has ever seen a Cops rerun knows that, in criminal court, defendants are innocent until proven guilty. But in tax court, taxpayers are essentially ... Read More
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Lawmakers Attempt To Scrap Large Truck FET
Earlier this summer, California Republican Doug LaMalfa introduced a bill in the House that would repeal the large truck federal excise tax. The FET began at 3 percent in 1917 as a way to help pay ... Read More
Top Three Reasons The IRS Will Audit Tax Preparers
Learn to Avoid IRS Tax Preparer Audits The best way to eliminate the consequences of a dangerous situation is to know how to avoid that situation in the first place. There are many reasons the IRS ... Read More
What You Need To Know About Tax Preparer Investigations
Professional tax preparers are not only held to a higher standard when they prepare their return, they are also held to a higher standard in terms of tax preparer investigations. This is due in large part ... Read More
Bitcoin ATMs To Pop Up Down Under
The cryptocurrency-tax question may have just gotten a lot murkier, now that Stargroup announced a partnership with DigitalX to roll out up to 2,900 Bitcoin-enabled ATMs in Australia. Currently, there are only sixteen such machines in ... Read More
Bitcoin and Taxes: A Quick Primer
In April 2014, the IRS declared that Bitcoin was property and not currency and would therefore be subject to the capital gains tax or capital loss deduction. But now may be a good time to examine ... Read More
Your Responsibilities As A Tax Preparer
Basic Due Diligence Requirements for Tax Preparers Christmas usually comes a little late for most third-party tax preparers, as most of these professionals do the bulk of their business in the first quarter of the year. ... Read More
Do I Need To Report Bitcoin On My FBAR?
After a long period of relatively low scrutiny, probably because Bitcoin values were relatively stagnant, the cryptocurrency is now on the Service’s (IRS) radar. Under current “law,” and that is using the term loosely, Bitcoin is ... Read More
IRS Forced to Limit its Bitcoin Summons
IRS Blinks In Coinstar Row Faced with growing opposition to its Coinstar John Doe summons, the IRS agreed to limit its scope, mostly by limiting the summons to Bitcoin accounts over $20,000. The original summons, which ... Read More
The Ongoing Conflict Over Bitcoin And John Doe Summonses
People are still talking about a November 2016 decision that upheld an incredibly broad Bitcoin subpoena. In the decision, Northern California Magistrate Judge Jacqueline Scott Corley issued a John Doe summons targeting Coinbase Inc. The IRS ... Read More
