Master Form 6765’s changes to protect clients and maximize innovation incentives. Recent IRS updates to Form 6765 introduce new reporting requirements for the R&D Tax Credit, demanding CPAs to adapt their compliance strategies. Key Focus: Compliance and Maximizing Tax Benefits
Government’s Move Raises Privacy and Deportation Concerns The Trump administration’s pursuit of IRS data on undocumented immigrants has sparked concerns over privacy, deportation risks, and economic impacts. Key Concerns: IRS-DHS Data Sharing: What’s Happening? The government is actively seeking taxpayer
Understanding the Tax Implications for Married Couples in Business Depending on state laws and elected tax status, married couples co-owning an LLC face unique tax considerations. Key Focus: LLC Structures and Tax Treatment Single-Member vs. Multi-Member LLCs LLCs are structured
Eston Melton Faces Felony Charges Over Unpaid Taxes and Asset Transfers A prominent Miami lobbyist, Eston “Dusty” Melton III, has been charged with federal tax evasion for failing to pay over $1.3 million in taxes, highlighting the IRS’s increased enforcement
IRS Warns Taxpayers Against Misleading Social Media Tax Advice The IRS is cautioning taxpayers about the dangers of false tax advice circulating on social media platforms, which can lead to penalties, audits, and criminal charges. Key Focus: Misinformation and Consequences
Vivid Inc. CEO Admits to Failing to Pay Employment Taxes John Comeau, CEO of Vivid Inc., has pleaded guilty to employment tax crimes, resulting in a $1.15 million loss to the IRS, highlighting the severe consequences of non-compliance with federal
Understanding the Possibility of Appealing Tax Court Rulings While many taxpayers view Tax Court as the final step in resolving IRS disputes, it’s important to know that some decisions can be appealed. However, success hinges on understanding the process and
Dale Thrush Faces Over 15 Years in Prison for Payroll and Filing Violations Dale Thrush, a Michigan businessman, has been convicted of multiple employment tax crimes and willful failure to file personal tax returns, highlighting the serious legal risks for
Drexel University Professor and Pharmacy Owner Faces Two Years for Tax Fraud Gordian A. Ndubizu, an accounting professor and pharmacy co-owner, has been sentenced to two years in federal prison for tax evasion and filing false tax returns, highlighting the
Navigating IRS Rules for Foreign-Held Crypto Many investors hold cryptocurrency in foreign exchanges or offshore accounts, raising questions about tax reporting obligations, particularly regarding FATCA Form 8938. Understanding these rules is crucial to avoid costly penalties. Key Focus: Compliance and