Tax Evasion
In a notable case of tax evasion, Ronnie Lyn Drummond, an IT consultant from Brookland, Arkansas, has pleaded guilty to failing to fulfill his tax
August 23, 2024
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Tag: IRS
Business Tax Incentives
The landscape of electric vehicle (EV) tax credits has evolved significantly in 2024, offering more immediate savings and stricter compliance requirements for both consumers and
August 23, 2024
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Tax deductions
If you own a timeshare, understanding how to maximize tax deductions can be challenging, especially when you rent it out. The tax implications of owning
August 23, 2024
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Investment Taxes
In times of market volatility, investors often look for strategies to mitigate losses and maximize their financial position. One powerful tax strategy that can be
August 22, 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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IRS
Taxpayer Advocate Service Fails to Provide Basic Services: A Deep Dive into TIGTA Findings A tax practitioner, frustrated by a six-week wait for a Taxpayer
August 22, 2024
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Payroll Taxes
In the world of business, maintaining compliance with tax laws is as crucial as delivering quality services to clients. Yet, many business owners, overwhelmed by
August 21, 2024
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Long-Term Tax Planning
As we step into 2024, understanding the intricacies of Social Security and Medicare is crucial for business owners, not just for personal planning but also
August 21, 2024
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Small Business Tax Help
Running a business in the hospitality industry, such as a restaurant or bar, often means dealing with employees who receive tips. As a business owner,
August 21, 2024
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US Supreme Court
Salvatore Groppo’s guilty plea for involvement in an unlawful sports gambling operation did not shield him from substantial IRS tax liabilities. Despite fulfilling his probation terms, Groppo faced over $100,000 in excise tax and penalties, which he unsuccessfully tried to settle. His appeal to expunge his felony conviction, aimed at negating the IRS’s tax assessment, was denied by the 9th Circuit Court. The court emphasized that the plea deal did not bind other authorities, reaffirming that tax liabilities remain despite a plea agreement.
July 12, 2024
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