Preparing For IRS’s Compliance Efforts In Crypto

Taxpayers, and the accounting and legal professionals who represent them, need to be prepared as the Internal Revenue Service has begun compliance work on those who own and trade in cryptocurrencies. “A CPA needs to advise their clients that the IRS is looking into...

Employee Retention Credit Scams Added to IRS “Dirty Dozen”

The IRS added widely circulating promoter claims involving Employee Retention Credits (ERC) as a new entry in the annual Dirty Dozen list of tax scams. These promotions can be based on inaccurate information related to eligibility for and computation of the credit....

Taxpayer Advocate Collins Optimistic for 2023

Despite a significant number of challenges faced by taxpayers in 2022, National Taxpayer Advocate Erin Collins has reason to be more optimistic for 2023. “We have begun to see the light at the end of the tunnel,” Collins wrote in the 2022 annual NTA report...