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trumps-2019-budget-cuts-irs-funding

Trump’s 2019 Budget Further Cuts IRS Funding Despite Being Tasked with Implementing New Tax Reform Law

President Donald Trump recently released his fiscal year 2019 IRS budget request to Congress for a total of $15 billion in funding. As you are aware, the tax code was recently overhauled with the enactment of the new tax law….

March 05, 2018

taxpayer-wins-failure-pay-tax-penalty-loses-failure-file-tax-return-penalty

Taxpayer Wins on the Failure to Pay Tax Penalty, Loses on the Failure to File a Tax Return Penalty

In a recent case in the United States Tax Court, the taxpayer lost his argument that the IRS should not assess a failure to timely file a federal tax return penalty against him failed. However, due to a technicality, he…

March 03, 2018

failure-timely-make-claim-refund-will-bar-refund

Failure to Timely Make a Claim for Refund Will Bar that Refund

In order to timely make a claim for refund from the IRS, one must make the claim for refund within three years from the due date of the tax return or two years from the date that the tax was…

March 01, 2018

party-can-cry-want-illinois-sales-tax

Illinois Taxing Separately for Party Food and Drinks

At one time or another, we have all been dragged to a Chuck-E-Cheese or a skating rink for a child’s birthday party. In addition to the bad pizza, the birthday party also includes something else that is packaged with it,…

February 27, 2018

irs-waives-60-day-ira-rollover-requirement

IRS Waives 60-day IRA Rollover Requirement

On October 20, 2014, a taxpayer cashed in an annuity contract held in an IRA and intended to roll the proceeds over into an IRA account. However, funds from the annuity were mistakenly deposited into a non-IRA account by her…

February 27, 2018

trumps-2019-budget-cuts-irs-funding-despite-tasked-implementing-new-tax-reform-law

Trump’s 2019 Budget Further Cuts IRS Funding

President Donald Trump recently released his fiscal year 2019 IRS budget request to Congress for a total of $15 billion in funding. As you are aware, the tax code was recently overhauled with the enactment of the new tax law. …

February 27, 2018

tax-attorney-to-lead-irs

Trump Nominates Tax Attorney to Lead IRS

President Donald Trump’s administration recently announced the nomination of Charles Rettig to be the next IRS Commissioner. Rettig’s nomination is significant because he would be the first IRS Commissioner in 22 years with a background in tax practice. Rettig is…

February 21, 2018

statute-of-limitations-for-2013-tax-returns

Question Arises Over Statute of Limitations for 2013 Tax Returns

The IRS Trouble Solvers™ recently received the following question via our website regarding one of our past blogs about the Statute of Limitations on 2013 tax returns: “I filed an extension in April 2015 for my 2014 tax return. I…

February 21, 2018

scam-tax-return-preparers

IRS Warns About New Scam on Tax Return Preparers

If you are a regular reader of this blog, you are aware of the many IRS scams out there designed to steal your money. Well, the IRS has now warned of a new scam perpetrated upon tax return preparers where…

February 21, 2018

questions-about-new-tax-law

Is the IRS Prepared to Answer Questions About New Tax Law?

Taxpayers may encounter difficulty in getting their questions answered from the IRS this year as the new tax law passed in December 2017 is fully implemented. According to a post on the Wolters and Klewer Tax and Accounting Blog, the…

February 15, 2018

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