A high school teacher faces major penalties after failing to report income and making unfounded claims about his tax obligations. In a recent case, a Georgia high school teacher faced a $25,000 penalty for making frivolous tax arguments in a
A religious organization faces hurdles in obtaining tax exemption due to its use of a controlled substance, Ayahuasca. The Ayahuasca Church of Healing, an Iowa-based religious group, has been at the center of a five-year legal battle after the IRS
The IRS embraces technology to improve auction efficiency and maximize proceeds from seized taxpayer property. IRS Updates Rules for Selling Seized Property On November 4, 2024, the IRS issued updated regulations for selling taxpayer property seized by levy. These changes
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
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
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
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
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
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
Free HIV-Prevention, Expanded Breast Surgery Options, and Better Coverage for Cancer Screenings The IRS, Department of Health and Human Services (HHS), and Department of Labor (DOL) recently announced big changes to health insurance rules that could make a real difference