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IRS Dirty Dozen Tax Scams to Watch Out for in 2025

Protecting Yourself from Fraudulent Schemes The IRS annually releases its “Dirty Dozen” list to alert taxpayers, businesses, and tax professionals about prevalent scams. Staying informed is crucial to safeguarding your financial and personal information. Core Message: Vigilance and Awareness The

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Tax blog
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Federal Court Cracks Down on Texas Tax Fraud Scheme

IRS and Justice Department Victory: Shutting Down Illegal Tax Practices The IRS and the Department of Justice have secured a significant victory in their ongoing battle against tax fraud, with a federal court issuing a permanent injunction against a Texas

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Tax blog
iFind Taxpro

Tax Court Rules on Rental Activity Losses

Why Proving Real Estate Professional Status Can Be Challenging Many investors use rental property losses to offset taxable income. However, qualifying as a real estate professional—which allows full deductions of rental losses—requires meeting strict IRS rules. A new case, Foradis,

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Tax blog
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Tax Court Rules Against a Family Limited Partnership (FLP)

Estate Tax Reduction Strategy Fails IRS Scrutiny Family Limited Partnerships (FLPs) can be powerful estate planning tools. They allow business owners to transfer wealth to the next generation while retaining control. However, a new Tax Court case, Estate of Fields

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Tax blog
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Tax Court Sides with IRS: Businesses Must Prove Expense Deductions

Lack of Proper Documentation Leads to Denied Tax Deductions Self-employed individuals can deduct “ordinary and necessary” business expenses, just like large corporations. However, they must follow strict substantiation rules to claim these deductions. In a recent case—Kalk, TC Memo 2024-82

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Tax blog
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IRS Clarifies Cannabis Tax Rules

June 2024 Declaration Keeps Marijuana Businesses Under Strict Tax Rules: No Business Deductions for 2025 Tax Season On June 28, 2024, the IRS reaffirmed that marijuana remains a Schedule I controlled substance, reminding cannabis businesses that they cannot claim standard

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