by Steven J Weil, PhD, EA, LCAM | Jul 22, 2021 | Blog, Business Tax, Personal Tax
It’s Being Replaced With An Attack Dog Consisting Of Scores Of Auditors & Collection Employees The days of the kinder gentler IRS seem to be coming to and end. IRS SB/SE co-commissioners De Lon Harris and Darren Guillot told attendees at a New York...
by Steven J Weil, PhD, EA, LCAM | Jul 19, 2021 | Blog, Business Tax, Personal Tax
The IRS has released a list of it’s “Dirty Dozen” scams effecting tax payers this year. The top 5 scams on this list some old scams we have seen before and some new ones. These scams cost the government and tax payers every year in both time and dollars so it’s...
by Steven J Weil, PhD, EA, LCAM | Jun 29, 2021 | Blog, Business Tax, Personal Tax
Internal Revenue Service is focusing on tax evasion done with virtual currencies like Bitcoin and nonfungible tokens. This is done by using data analytics to uncover transactions that crypto users assumed are hidden. As crypto and other virtual currencies have become...
by Steven J Weil, PhD, EA, LCAM | Jun 11, 2021 | Blog, Business Tax, Personal Tax
Below is a list tax bills introduced in Congress for which bill text became available between June 3 and June 10, 2021. The bill text for each bill can be accessed by clicking on the bill number. Individuals: H.R.2304 – Save Social Security Act of 2021. To...
by Steven J Weil, PhD, EA, LCAM | Jun 1, 2021 | Blog, Business Tax, Covid-19
Startup Businesses that began business activities after February 15, 2020 may be eligible to receive Employee Retention Credits of up to $50,000 per calendar quarter. The credit is part of the American Rescue Plan Act (ARPA), signed by President Biden on March 11,...
by Steven J Weil, PhD, EA, LCAM | May 27, 2021 | Accounting, Blog, Business Tax
IRS WANTS BUSINESS TO KNOW WHAT IS A “RESTAURANT” IS! The IRS has lets us all know what is, and what is not, a restaurant, for purposes of the rule that allows a 100% deduction for certain business expenses for food and beverages provided by a restaurant...
