Entries by Tax Attorney

IRS Ending Unannounced Revenue Officer Visits To Taxpayers

IRS Ending Unannounced Revenue Officer Visits To Taxpayers As part of a larger transformation effort, the Internal Revenue Service (IRS) announced on August 3, 2023 a major policy change that will end most unannounced visits to taxpayers by IRS Revenue Officers to reduce public confusion and enhance overall safety measures for taxpayers and employees. The […]

Storm victims in 4 states facing expiration of IRS tax relief: File and pay by July 31; parts of Arkansas, Indiana, Mississippi and Tennessee.

Storm victims in 4 states facing expiration of IRS tax relief: File and pay by July 31; parts of Arkansas, Indiana, Mississippi and Tennessee. Individuals and businesses in parts of four states where Federal Disaster Relief was announced are facing a deadline of July 31, 2023 to file their 2022 federal income tax returns and […]

IRS Looking For Taxpayers To Report Gig Economy Income, Virtual Currency Transactions, And Foreign Source Income And Assets

IRS Looking For Taxpayers To Report Gig Economy Income, Virtual Currency Transactions, And Foreign Source Income And Assets Chances are you are involved in one of these areas – Income from the Gig Economy, Dealing with Virtual Currency, or Having Foreign Source Income And Assets. If so, pay particular attention to what the IRS will […]

Current State Of Tax Enforcement On Cannabis Businesses

If you are conducting business in cannabis in the State of California, there are several taxing authorities that have interest in your business, specifically: Internal Revenue Service (IRS), Franchise Tax Board (FTB), California Department Of Tax & Fee Administration (CDTFA) and your local jurisdiction (municipality).  Additionally, if your business has workers, the Employment Development Department […]

If You Can’t Beat Them, Join Them – Minnesota Legalizes Adult-Use Cannabis!

On May 30, 2023, Minnesota Governor Tim Walz (D) signed a bill into law legalizing recreational marijuana use in the state, this making Minnesota the 23rd state to legalize cannabis for adult-use (previously Minnesota legalized only medical cannabis). Under the measure, Minnesota residents who are 21 years and older will be able to possess up […]

How To Know When You May Be A Target In An IRS Criminal Investigation

How To Know When You May Be A Target In An IRS Criminal Investigation A simple mistake, oversight, or your accountant’s malpractice may trigger an IRS criminal investigation. Specifically, unreported income, mismatch of information on a tax return versus third-party reporting information, a false statement, the use of an impermissible accounting or banking service, or […]