Cryptocurrency is a relatively new form of currency that allows for online exchange. Unlike other forms of currency, cryptocurrency only exists online. Because it removes financial and banking institutions, some may believe that cryptocurrency is private. Although...
What happens when a tax return preparer is accused of tax evasion?
Tax return professionals are subject to penalties if they do not follow tax laws. The Internal Revenue Service (IRS) and state tax agencies may pursue criminal charges against a tax return preparer if they believe the professional has failed to do their job properly....
IRS announces two actions to target high-income taxpayers
As noted in our previous post, available here, the Internal Revenue Service (IRS) has announced that it will target high-income taxpayers in its future enforcement efforts. Within this focus, the agency has further clarified it will specifically target those who...
IRS announces resumption of enforcement efforts
The Internal Revenue Service (IRS) recently announced it will resume enforcement efforts — but what does this mean? The tax agency, like many other businesses throughout the country, drastically cut back its efforts over the past few months as a result of the COVID-19...
