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IRS Has Unclaimed Tax Refunds Worth More Than $1.5 Billion From 2016

Roughly 1.4 Million Americans Set To Lose Out On Refunds Roughly 1.4 million Americans are set to lose out on unclaimed income tax refunds worth more than $1.5 billion……because they didn’t file their 2016 tax returns. Taxpayers are given a…

July 06, 2020

IRS Budget Increased, IRS Enforcement to Increase

President Trump has requested $12 Billion dollars in funding for the IRS in Fiscal year 2020, an increase of $500 Million dollars over last year’s budget.  $300 Million of this amount will continue the IRS’ modernization efforts, including funding to…

July 10, 2020

Whistleblower Not Entitled to Money Award

The IRS has a Whistleblower program that can pay the whistleblower at least 15% and up to 30% of the proceeds collected as a result of the whistleblower turning somebody in to the IRS.  If you know of a taxpayer…

June 26, 2020

Fraud Penalty Assessed Against Attorney for Unreported Income

In a recent case, the civil fraud penalty was assessed against an attorney because he failed to report income on an already filed tax return.  As a result of the under-reporting, he underpaid his income tax liability.  The Court also…

June 04, 2020

Frivolous Tax Return Penalties against Protester Sustained by U.S. Tax Court

Mary Anne Valentine-Whitaker and her husband filed a tax return with the IRS for 2012 claiming a refund in the amount of $3,094.00 stemming from a distribution from her retirement plan in the amount of $15,469. Attached to the tax…

November 06, 2017

$85,000 Paid to an Employee for Emotional Distress Includible in Income

Generally speaking, damages received by a taxpayer who suffered physical injuries or sickness is excludable under the Internal Revenue Code, meaning that the taxpayer does not have to include any such payments as income on his income tax return. When…

October 05, 2017

Use These Tips to Avoid Hurricane Charity Scams

Americans are known for charitable giving.  In 2016 alone, Americans donated nearly $390 billion to charitable causes — an amazing 4.2 percent increase over 2015.  We are especially giving in times of national tragedy, like the devastating recent hurricanes that…

September 18, 2017

Floyd Mayweather Seeking Installment Agreement on 2015 Taxes

As Floyd “Money” Mayweather prepares for his epic battle against UFC superstar Conor McGregor in August 2017, he’s also got something else on his mind — namely some unpaid tax liabilities. According to a petition filed with the US Tax…

July 20, 2017

Louisiana Attorney Sentenced to 30 Months in Prison for Tax Evasion

Criminal defense attorney Michael Thiel of Baton Rouge, Louisiana was recently sentenced to 30 months in prison for tax evasion. From 2003 through 2013, Thiel evaded paying approximately $1 million in income and employment taxes, plus penalties and interest, by concealing…

June 12, 2017

Tax Court Confirms that Economic Hardship Relief from an IRS Levy Applies Only to Individuals

The IRS is the most powerful creditor on the planet.  It can walk into your bank and take all of the money out of your bank account.  It can go to your employer and take virtually all of your W-2…

April 04, 2017

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