IRS Audit
Tax season is here, and for many business owners, that means crunching numbers, gathering receipts, and ensuring everything adds up correctly. But in the back
February 7, 2025
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Blog
Category: Business Tax Audits
IRS Audit
Over $1 billion in unpaid taxes. That’s how much the IRS could collect from unreported gambling winnings. If you’ve ever hit it big—at a casino,
January 28, 2025
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Tax Evasion
Tammy and Scott Bushnell thought they were running their business the smart way—underreporting income, inflating expenses, and even destroying records to keep more money in
January 28, 2025
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Taxes
Taxes aren’t just another business expense you can ignore—and one business owner is learning that lesson the hard way. Guy S. Cook, the former owner
January 23, 2025
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Small Business Tax Help
Since the Supreme Court’s landmark 2018 Wayfair decision, businesses of all sizes have faced a more complex sales tax landscape. The ruling allowed states to
January 10, 2025
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Payroll Taxes
As a business owner, wearing multiple hats is part of the job. But if you work in your business and own it, you can’t skip
January 7, 2025
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Tax Fraud
In a recent case that underscores the serious implications of payroll tax fraud, Linda Davis, the owner of Majestic Seals & Stripes, Inc., was sentenced
December 20, 2024
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IRS
As a business owner, managing taxes can be complex, but it’s crucial to stay compliant. Recent cases, like the guilty plea of a telecommunications company
December 19, 2024
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Business Tax Audits
State and local tax (SALT) regulations are evolving rapidly, and 2025 promises to bring even more changes that will challenge businesses and their advisors. For
December 18, 2024
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Back Taxes
The IRS’s recent recovery of $1.3 billion from wealthy tax dodgers highlights a renewed focus on tax enforcement, thanks to funding provisions in the Inflation
December 12, 2024
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Business Tax Audits
As we approach 2025, state and local tax (SALT) regulations are becoming increasingly complex. For business owners, staying ahead of these changes is critical to
December 12, 2024
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Business Tax Audits
Business owners often face complicated tax regulations, making it essential to stay on top of tax compliance. Recent legal cases, such as the sentencing of
December 11, 2024
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Business Tax Audits
In a landmark case, TD Bank N.A. (TDBNA), one of the largest banks in the United States, pleaded guilty to violating the Bank Secrecy Act
December 10, 2024
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Back Taxes
The gambling industry continues to grow, generating a staggering $60.5 billion in gross revenue in 2022. However, with great profits come great tax responsibilities. The
December 10, 2024
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Business Tax Audits
For business owners, receiving an audit notice from the IRS can be stressful and confusing. Understanding the audit process and how to handle it can
December 9, 2024
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Business Tax Benefits
Introduction As a business owner, navigating the complex tax landscape can be overwhelming. One aspect of the U.S. tax system that may catch you off
December 3, 2024
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Business Tax Audits
Audits are among the most intimidating experiences a business owner can face. When the IRS calls, it’s natural to feel uneasy. However, with the right
December 3, 2024
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Cryptocurrency Taxes
As digital assets like cryptocurrencies and NFTs continue to gain mainstream traction, it’s critical for business owners to understand how the IRS views and taxes
November 28, 2024
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Tax Scams
For business owners, finding a trustworthy tax preparer is essential. However, as seen in the recent case of Salvador Gonzalez, a Riverside County man sentenced
November 18, 2024
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Tax Fraud
The recent indictment of Ryan Ulibarri, a dentist in Colorado, serves as a stark reminder to business owners: don’t be tempted by complex tax schemes
November 15, 2024
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Taxes and Divorce
If you’re paying alimony as part of a divorce or separation, it’s important to understand the tax rules that govern these payments, especially after recent
November 14, 2024
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Business
One of the biggest tax-related questions for business owners is whether the IRS will classify an activity as a business or a hobby. The answer
October 28, 2024
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Business
If you’re a U.S. business owner with financial interests abroad, navigating tax compliance can be a challenge. Whether you hold funds in a foreign bank
October 28, 2024
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Business Tax Audits
As a business owner, understanding the IRS audit triggers is essential for staying on the right side of tax compliance and avoiding potential issues. Many
October 28, 2024
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Tax Fraud
When tax fraud schemes come to light, they often highlight the importance of understanding tax regulations and the severe consequences of non-compliance. In a recent
October 28, 2024
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Tax Evasion
In the ever-evolving landscape of tax compliance, recent events involving high-profile figures highlight the complexities and challenges businesses face when it comes to their financial
October 28, 2024
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Tax Evasion
The case of Jason Svonavec, a prominent businessman involved in coal mining, crane services, and agriculture, serves as a stark reminder of the consequences of
October 28, 2024
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Business Startup Taxes
Running a successful business in 2024 requires more than just a good idea—it demands strategic planning, effective management, and attention to financial details. In this
October 16, 2024
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Business Tax Audits
Maintaining accurate and organized tax records is crucial for every business owner. Proper recordkeeping can not only ensure that your tax returns are prepared accurately,
October 10, 2024
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Business Tax Benefits
As a business owner, operating an S Corporation (S Corp) comes with various tax benefits, but it also requires diligent adherence to IRS regulations. The
October 8, 2024
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Tax Fraud
When you own a small business structured as an S corporation, it’s crucial to understand the rules that govern your corporation’s status. One key aspect
October 2, 2024
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Small Business Tax Help
Understanding the Nuances for Business Owners For many small business owners in the U.S., forming a limited liability company (LLC) or a partnership is a
October 1, 2024
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Small Business Tax Help
Expanding your business beyond domestic borders can be an exciting and lucrative venture. As small business owners increasingly dip their toes into the global market,
September 27, 2024
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Business Startup Taxes
Crowdfunding has emerged as a powerful tool for raising funds, whether you’re launching a new product, supporting a social cause, or looking to back an
September 24, 2024
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US Supreme Court
A recent U.S. Supreme Court ruling has sent ripples through the world of small business, with significant implications for how closely held businesses are valued
September 18, 2024
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IRS tax planning
As a business owner, you may think that issuing a 1099 form is a task reserved for payments made to individual contractors or small businesses.
September 16, 2024
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Tax Evasion
In a recent case that underscores the critical importance of tax compliance, Alabama chiropractor Gary Forrest Edwards was indicted on charges including tax evasion and
September 13, 2024
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IRS Penalties
When you think of tax evasion, the case of Paul Cromar, a freelance film producer, might not be the first thing that comes to mind.
September 10, 2024
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Capital Gains Taxes
If you’re a business owner operating as an S corporation and considering shutting down your company, it’s crucial to understand the federal income tax implications
September 9, 2024
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Tax Fraud
In a notable legal development, Abdirizak Farah, the founder and superintendent of two charter schools in Ohio, has admitted to engaging in bank fraud, highlighting
September 6, 2024
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Tax Fraud
The recent sentencing of Jess Adams, the former treasurer for the City of Houston, Alaska, serves as a stark reminder of the vulnerabilities in financial
September 5, 2024
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IRS Penalties
In a notable case of tax fraud, Jacques Eid, an owner of both a convenience store and a restaurant, was recently sentenced to two-and-a-half years
September 4, 2024
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Business Tax Audits
As the 2024 election approaches, Vice President Kamala Harris, the Democratic nominee for president, has outlined her tax policy agenda, which largely builds on President
August 27, 2024
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Fraud
In a startling development that highlights the dangers of financial mismanagement and fraud, Ippei Mizuhara, translator for Los Angeles Dodgers star Shohei Ohtani, has pleaded
August 27, 2024
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IRS Audit
Schedule C filers, the backbone of many small businesses and sole proprietors, face a daunting reality: they are statistically 3-10 times more likely to be
August 27, 2024
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IRS Audit
As a business owner, you may have heard about or even claimed the Employee Retention Credit (ERC), a pandemic-era tax relief measure designed to help
August 22, 2024
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