The December 2015 issue of Accounting Today reported about numerous challenges the IRS is facing. First, there was the IRS Commissioner, John Koskinen, stating that budget cuts are not only harming … [Read more...] about IRS Woes & Problems Continue – Is There No End in Sight?
IRS Announces New Initiative to Collect Payroll Taxes
When some companies have a cash flow problem, what have they done? Some have thought that the cash flow problem was temporary due to a customer failing to remit payment when promised, an unexpected … [Read more...] about IRS Announces New Initiative to Collect Payroll Taxes
IRS Telephone Scams – and Then There is the PA Office of Unemployment Compensation
When a tax jurisdiction calls, do you hang up on them or talk to them? One could argue that it depends whether the caller identifies himself with the IRS or PA. Let’s start with the IRS. If you … [Read more...] about IRS Telephone Scams – and Then There is the PA Office of Unemployment Compensation
Will Your Passport Be Revoked?
The recently passed federal highway and transportation spending bill, Fixing America’s Surface Transportation Act, often referred to as the FAST Act, includes a provision that allows the sharing of … [Read more...] about Will Your Passport Be Revoked?
Taxpayer Loses Reasonable Cause Argument – FBAR Penalty Imposed
All too often when a taxpayer has penalties imposed by the IRS and the taxpayer becomes aware that there are exceptions from the penalties for reasonable cause, the taxpayer erroneously assumes that … [Read more...] about Taxpayer Loses Reasonable Cause Argument – FBAR Penalty Imposed
“The Most Important Financial Decision That You Ever Had”
In earlier posts, we have discussed the benefits of waiting until age 70 to receive the largest monthly benefit check. At what age one decides to collect SSA is a personal choice? For individuals who … [Read more...] about “The Most Important Financial Decision That You Ever Had”
