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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

Taxpayer Criminally Convicted of Willfully Failing to Disclose His Foreign Bank Accounts on His Tax Returns

If you have one or more foreign bank accounts, you may be required to file a Report of Foreign Bank and Financial Accounts (commonly referred to as an FBAR) with your federal Form 1040 tax returns when they are filed. …

July 03, 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

Beware of Ghost Tax Return Preparers

Ghost tax return preparers are people that will prepare your tax return without signing it as the preparer and often promises big refunds.  If someone promises you a big refund without even looking at your income or your expenses, that…

June 19, 2020

Court Finds Comedian Not So Funny

A taxpayer who performed comedy shows deducted personal expenses as business expenses, such as childcare, clothing, groceries and meals at fast-food restaurants.  In court, the taxpayer presented unsorted and voluminous documentation where personal living expenses were not clearly distinguishable from…

June 12, 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

IRS’ Penalty Against Harley Davidson Dealer Goes Flat

When the IRS takes certain action against a taxpayer, it must obtain timely managerial approval before going forward.  In a recent case, the IRS proposed to assess a penalty against a Harley Davidson dealer.  The Harley Davidson dealer challenged the…

May 27, 2020

Can I Pay Installments on Federal Income Taxes I Owe If I Can’t Afford to Pay it All at Once

Despite the IRS being slammed right now due to COVID-19, millions of Americans still owe money to the IRS in back taxes for previous years and they’ll increasingly find themselves unable to pay up all at once. In this article,…

May 26, 2020

Settlement Days Program Continued Remotely

The IRS Office of Chief Counsel announced that the Settlement Days program would continue remotely. The first two events are for docketed cases with place of trial in Detroit or Atlanta. Future events would be scheduled in other cities throughout…

May 20, 2020

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