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Ransomware Scammers Posing as IRS and FBI
The Internal Revenue Service is warning people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage.
The Internal Revenue Service is warning people to avoid a new phishing scheme that impersonates the IRS and the FBI as part of a ransomware scam to take computer data hostage.
Hurricane Harvey victims in parts of Texas have until Jan. 31, 2018, to file certain individual and business tax returns and make certain tax payments, the Internal Revenue Service has announced.
Based on the evidence in the case, the Tax Court concluded that the taxpayer received gross income in 2012 equal to the value of the services that he provided to the trust. This amount was applied as an offset against the rent that the taxpayer owed.
The IRS can and often will impose tax on workers who don’t receive traditional wages from employment-related activities. Here are three of the latest examples culled from the Tax Court files.
Entrepreneurs usually aren’t surprised by the amount of work it takes to get a business up and-running and become successful. But these same small business owners are often blindsided by the time and effort required for tax and accounting issues.
As a general rule, you may write off the direct expenses of the home office (e.g., painting and carpeting a room) as well as a proportionate share of indirect expenses, such as mortgage interest and real estate taxes, utilities, insurance and repairs ...
Two words, consistency and focus. We all talk about providing tax planning services, even our websites talk about tax planning and tax consulting services. The harsh reality is that most CPAs only dream of having the time to do tax planning.
Although taxpayers can claim valuable income tax write-offs for gifts of property to charity, they should not get greedy. If a taxpayer doesn’t have the proper records to back up the claims, most or all of the deduction may be denied.