Are you an employer interested in allowing a leave-based donation plan to benefit “victims of the further invasion of Ukraine”? As described in IRS Notice 2022-28, employees who participate in such a plan can receive favorable tax treatment. That is, payments made as part of an employer leave-based donation program before Jan. 1, 2023, won’t […]

What happens if taxpayers can’t pay the taxes the IRS says they owe? An “offer in compromise” (OIC) may allow them to settle their tax debts for less than full liability. It can be difficult to get an OIC accepted, but individuals are eligible to apply if they’ve filed all required tax returns, made required […]

Earlier this year, the Organization for Economic Co-operation and Development (OECD) released a public consultation document proposing amendments to its crypto-asset reporting regime. The document outlines due diligence procedures and describes the assets involved and the reporting nexus. But crypto and banking industry leaders are pushing back. They disagree with how the new framework defines […]

On Memorial Day we take an Exclusive Preview of the New World War I Memorial https://bit.ly/3a73fUg 

To the brave men and women we have lost: You are forever in our hearts and minds. Your service and sacrifice will never be forgotten. We remember…. Have a happy Memorial Day, and take a moment to reflect and thank the soldiers who gave their lives.  We are free because they were brave.

The Treasury Inspector General for Tax Administration (TIGTA) has issued an audit that evaluates whether the IRS timely and accurately processed individual paper and e-filed tax returns during the 2022 filing season. As of March 4, 2022, the IRS received 54.7 million tax returns and issued $129.2 billion in refunds. The audit found that “significant […]