Mail From the IRS
For the most part, Taxpayers do not want to receive mail from the IRS or open mail from the IRS. This is why IRS issued Tax Tip 2024-45 on May 6, 2024 to let taxpayers know what taxpayers should do
- Foodman Website and JD Supra
HOAs are Reporting Companies under the CTA
On 4/18/24, FinCEN updated its Beneficial Ownership Reporting FAQs and included for the first time information regarding HOAs (Home Owners Associations). FinCEN confirms in this update that HOAs are reporting companies under the Corporate Transparency Act (CTA) and are subject
- Foodman Website and JD Supra
Access to BOI: FinCEN Phased Approach
On 4/18/24, FinCEN updated its FAQ Section and added a new section titled “Access to BOI Information”. This new section addresses the phased approach from FinCEN to providing access to BOI – beneficial ownership information – as FinCEN is not
- Foodman Website and JD Supra
Offer in Compromise: Opportunity to Solve Tax Debt
IRS issued Tax Tip 2024-37, April 24, 2024, to inform taxpayers that can’t pay their full tax debt or if paying would cause financial hardship, that they should consider applying for an offer in compromise which is a program that
- Foodman Website and JD Supra
How to Amend a Tax Return?
The IRS released Tax Tip 2024-38, April 25, 2024, to explain to taxpayers how to amend a tax return. If a taxpayer discovers an error after filing their return, the taxpayer may need to amend a tax return. IRS states
- Foodman Website and JD Supra
Dirty Dozen 2024
On 4/11/24, the IRS concluded the release of the Dirty Dozen 2024. The Dirty Dozen is an annual taxpayer awareness campaign which began in 2002 listing twelve scams and schemes that place taxpayers, businesses, and the tax professional community at
- Foodman Website and JD Supra
Tax Strategies and Schemes to Avoid Taxes at IRS Forefront
On 4/11/24, the IRS wrapped up its 2024 Dirty Dozen List with a “warning to taxpayers regarding promoters selling bogus tax strategies and fraudulent offshore schemes designed to reduce or avoid taxes altogether”. Tax strategies and schemes to avoid taxes
- Foodman Website and JD Supra
U.S. Passport Card Fraud FinCEN Notice
On 4/15/24, FinCEN in conjunction with the U.S Department of State’s Diplomatic Security Service (DSS), issued warning regarding U.S. Passport Card Fraud via Notice to financial institutions urging them to be vigilant in identifying and reporting suspicious activity related to
Social Media Tax Advice Can Lead to Trouble
On 4/8/24, the IRS continued updating the Dirty Dozen list for 2024 including how social media tax advice can lead taxpayers to trouble as inaccurate or misleading tax information is circulating. IRS is re-issuing a warning, just like they did
- Foodman Website and JD Supra
Robocall Campaign Pushing Fake Tax Relief Gets Cease and Desist
On 4/4/24, the Federal Communication Commission (FCC) Enforcement Bureau issued a cease-and-desist letter against Veriwave Telco due to an illegal robocall campaign pertaining to a “National Tax Relief Program.” The FCC also warned the company that failure to comply with
- Foodman Website and JD Supra
Smishing and Phishing Scams Kick Off IRS Annual Dirty Dozen
On 3/28/24, the IRS kicked off its annual Dirty Dozen list with a warning for taxpayers to be aware of evolving smishing and phishing scams designed to steal sensitive taxpayer information. Smishing and phishing scams arrive to the taxpayer in
- Foodman Website and JD Supra
Can You Appeal the IRS?
Taxpayers have the right to appeal the IRS. Understanding how to appeal the IRS is critical and Taxpayers ought to consider retaining representation in order to diminish the risks of litigation. Only attorneys, certified public accountants or enrolled agents are
- Foodman Website and JD Supra
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