There are a lot of things that can trigger an IRS audit. Simply put, the IRS identifies them as red flags because they potentially increase the likelihood of one of two things – you are under-reporting income or over-reporting deductions. High-Income Taxpayers with Unsettled Debts: The IRS created the ‘High Wealth, High Balance Due Taxpayer …
The IRS and ‘Customer Service’? The IRS isn’t exactly known for its customer service. The majority of calls to its ‘customer service’ line remain unanswered, despite the IRS being gifted a huge budget increase as part of the equally ironically named ‘Inflation Reduction Act’. We decided, out of curiosity, to look up the word ‘customer’ …
The IRS is 2024’s ‘comeback kid’: According to IRS Commissioner Danny Werfel, the IRS is making strategic moves with its hefty funds from the Inflation Reduction Act. They’ve been channeling the money into revamping employee training and upgrading one of its oldest IT systems. Armed with nearly $60 billion in multi-year funds, the IRS is …
Dealing with tax problems can be incredibly stressful, and we’re thrilled our team of Attorneys, CPAs and Case Managers were able to provide the help these 3 clients needed. Everyone at Rush is 100% dedicated to providing top-notch service and ensuring the best possible resolution for our clients. We really appreciate these AWESOME reviews shared …
As it turns out, yes, you CAN go to jail for owing the IRS. Two Guys’ Tax Trouble: The $18 Million Scheme Meet Joseph Nubla and Henry Ku from Northern California. These pals are in hot water, looking at 3 and 2.5 years behind bars. Why? Well, they tried to pull off hiding a whopping …
The IRS announced a second year of delays in implementing a 2021 law apps like Venmo, PayPal, and Cash App to send tax forms (1099-Ks) to users who received over $600 in the current tax year. The goal of this delay is to reduce taxpayer confusion and avoid sending an estimated 44 million 1099-K forms …