You Stole My Heart and My Money

You Stole My Heart and My Money

According to the Federal Trade Commission, consumers reported losing more than $3.3 billion to fraud in 2020, up from $1.8 billion in 2019. Nearly $1.2 billion of losses reported last year were due to imposter scams, while online shopping accounted for about $246...
Dealing with Internal Revenue Service Employees

Dealing with Internal Revenue Service Employees

Taxpayers may be dealing with more IRS agents if Commissioner Charles Rettig gets the budget increase to $800 billion that he desires, for new employees, modernize the systems, implement the Taxpayer First Act and conduct compliance activities that support the...
Hiring Your Child as an Employee

Hiring Your Child as an Employee

Thanks to the Tax Cuts and Jobs Act (TCJA), if you are operating a small business as a sole proprietorship or a single-member LLC that is treated as a sole proprietorship for tax purposes, you can hire your child under the age of 18, as a legitimate employee.  His or...
The Importance of Filing Timely with the IRS

The Importance of Filing Timely with the IRS

The Internal Revenue Code requires individual taxpayers file on April 15th of each year to file an extension Form 4868, which allows you to estimate your tax liability for the prior year and make a payment. The IRS announced for residents and businesses in Texas...
The Impact of Relevant Conduct on Taxpayers

The Impact of Relevant Conduct on Taxpayers

IRS Criminal Investigation Special Agents use the specific items method of proving income because it is generally the easiest method of proof that the IRS has in its arsenal to prove unreported income. IRM 9.5.9.4 states, “Where the government is using the specific...
The Impact of Relevant Conduct on Taxpayers

The Impact of Relevant Conduct on Taxpayers

IRS Criminal Investigation Special Agents use the specific items method of proving income because it is generally the easiest method of proof that the IRS has in its arsenal to prove unreported income. IRM 9.5.9.4 states, “Where the government is using the specific...