Recent Articles
Tax Planning for Personalized Medicine Providers
Explore Key Tax Strategies and Benefits for Providers in Genetic Testing and Precision Medicine to Reduce Costs and Increase Savings. Personalized medicine is at the forefront of medical innovation, focusing on genetic testing and precision medicine to tailor treatment plans...
How Ignoring Payroll Tax Rules Can Lead to Criminal Charges
Employer’s Tax Responsibilities: A Case of Costly Neglect A Serious Tax Oversight A business owner from Massachusetts, who we’ll call the “Irresponsible Taxpayer,” recently pleaded guilty to failing to handle payroll taxes correctly. As the owner of two companies—a steel...
Understanding FBAR: What U.S. Citizens with Foreign Accounts Need to Know
The Importance of FBAR Reporting to Avoid Penalties on Foreign Bank Accounts If you’re a U.S. citizen with money in a foreign bank account, you need to know about the Foreign Bank and Financial Accounts Report (FBAR). This rule, part...
Irresponsible Taxpayer’s Failed Claim for Research Tax Credit
A recent court decision highlights the strict eligibility criteria for the Research Tax Credit and the importance of accurate documentation and proof of innovation. In a recent tax case, the Supreme Court declined to hear a case centered around the...
Supreme Court to Decide on Trustee’s Ability to Recover IRS Tax Payments in Bankruptcy Case
High Court to Rule on Bankrupt Trustee’s Effort to Claw Back Allegedly Fraudulent Tax Payments In an upcoming case, the Supreme Court will rule on whether a bankruptcy trustee can recover tax payments made to the IRS on behalf of...
Supreme Court Declines IRS Whistleblower Case, Raising Questions on Award Limits
Whistleblower’s Challenge on IRS Award Reduction Ends as Supreme Court Passes on Case The Supreme Court recently decided not to review a case involving an IRS whistleblower award, leaving many people wondering what this means for others who report tax...