Court Agrees with IRS that Real Estate Professional's Losses Were Considered Non-Deductible Passive Losses A Tax Advantages of Being a Real Estate Professional Is that Rental Losses Are Not Treated … [Read more...] about Vacation Properties Owned by Real Estate Professional Not Considered a Rental Activity by the IRS
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17 Million Taxpayers at Risk
Taxpayers Who Lost Their Jobs or Had Their Hours of Work Substantially Reduced May Wind Up In IRS Collections As We Continue to Endure the Health and Financial Ravages of the Corona Virus, … [Read more...] about 17 Million Taxpayers at Risk
Are My Unemployment Compensation (UC) Benefits Tax-Free or Taxable? What about the $1,200 Stimulus Check I Received?
What You Need to Know about Your Unemployment Compensation Benefits and Tax Stimulus Check Perhaps You Were One of the Millions of Taxpayers Who Lost their Job, Had their Work Hours Reduced, or … [Read more...] about Are My Unemployment Compensation (UC) Benefits Tax-Free or Taxable? What about the $1,200 Stimulus Check I Received?
Where Is My 2019 Tax Refund? Is There a Problem?
Are You Concerned that Your Refund was Lost or a Victim of ID Theft? Perhaps You Filed Your Return in April, May or June, and You Still Have Not Received Your Refund. You are Understandably Eager … [Read more...] about Where Is My 2019 Tax Refund? Is There a Problem?
Failure to Disclose Foreign Holdings (FBAR) – Taxpayer Found to have Committed Fraud
Taxpayer is found to have committed fraud by willfully failing to comply with FBAR reporting requirements. FBAR Reporting Requirement Every year, under the law known as the Bank Secrecy Act, … [Read more...] about Failure to Disclose Foreign Holdings (FBAR) – Taxpayer Found to have Committed Fraud
July 15, 2020 – Day of Reckoning?
Julius Caesar Had His Ides of March – You Need to Avoid Having Your Ides of July BACKGROUND Due to the corona virus pandemic, the IRS due date for filing your 2019 Form 1040 has been postponed … [Read more...] about July 15, 2020 – Day of Reckoning?