It’s all champagne wishes and caviar dreams for some IRS employees, according to a recent Senate Finance Committee Report. The report found that in fiscal year 2015 alone, the IRS spent more than $1.4 million on long-term travel for only 27 employees, with the average cost of each trip amounting to approximately $52,800 of taxpayer money.
Read MoreWith a new tax year comes new changes to IRS policies procedures. As 2016 taught us, it is impossible to anticipate what the IRS may do next; however, it is possible to forecast the direction the IRS is heading by looking at what big changes occurred in the past year. In this vein, IRS audits and appeals have noticeable themes:
Read MoreThe Securities and Exchange Commission’s recent astronomical $22 million award to a whistleblower[1] raises the question: will these awards continue to grow?
Read MoreAmericans will spend 8.9 billion hours complying with IRS tax requirements in 2016. Let that sink in for a moment. Earlier this month the Tax Foundation issued Fiscal Fact No. 512, which breaks down this staggering time-suck.
Read MoreMichael Jackson is dead. The world agrees this is tragic. However, his estate’s war with the IRS is alive and well. But it too could end tragically for Jackson’s beneficiaries, along with beneficiaries of celebrity estates that increased in value after the death.
Read MoreDoing your taxes goes hand in hand with planning for your future financially. This Part 3 of the Guide to Tax Professionals explains what a Certified Financial Planner (CFP) is and CFPs’ role in tax planning.
Read MoreTaxpayers frequently seek out accountants to do their taxes over other tax preparers, often without knowing quite why. This Part 2 of the Guide to Tax Professionals explains what a CPA is and why having a CPA do taxes can be beneficial.
Read More