Domestic Tax Law Archives - Page 20 of 31 - Foodman CPAs and Advisors

Your Tax Home and Travel Expense Deductions

August 2019

The Internal Revenue Code (IRC) permits a U.S. Taxpayer to deduct “certain travel expenses” when traveling away from home on business. Taxpayers ought to keep close attention to a travel expense deduction and ensure that it accurately correlates with a

Foodman CPAs & Advisors

IRS using Data Analytics to Uncover Criminal Arrangements

August 2019

IRS using Data Analytics to Uncover Criminal Arrangements article appeared on JD Supra on 8/20/19. IRS-Criminal Investigation (IRS-CI) is a federal agency department specifically authorized to investigate and prosecute federal income tax crimes. IRS-CI uses data analytics such as models,

JD Supra

When do you need an IRS Certifying Acceptance Agent?

August 2019

When do you need an IRS Certifying Acceptance Agent? Article appeared at JD Supra on 8/15/19. There are foreign national Individuals and other foreign Persons that do not have or do not qualify for a Social Security Number (SSN) but

JD Supra

Does it make sense to go from an S-Corp to a C-Corp?

August 2019

Does it make sense to go from an S-Corp to a C-Corp? Article appeared at JD Supra on 8/9/19. IRS defines an S-Corp as a corporation whose shareholders make the election to pass corporate income, losses, deductions, and credits through

JD Supra

What is an Abusive Tax Trust?

August 2019

What is an Abusive Tax Trust? Article appeared at JD Supra on 8/9/19. In a “legitimate” Trust, the ownership and control of the Trust assets and income is “separate” from a Settlor’s control and benefit. IRS has been reporting that

JD Supra

Understanding how Taxpayers may Appeal to the IRS Office of Appeals

July 2019

Understanding how Taxpayers may Appeal to the IRS Office of Appeals was published by JD Supra on 7/16/19. IRS has an Office of Appeals (OOA) that operates as an “independent” organization within the IRS. The goal of the OOA is

JD Supra

Will the IRS Integrated Modernization Business Plan Work?

July 2019

Will the IRS Integrated Modernization Business Plan Work? was published by JD Supra on 7/19/19. On April 18, 2019, IRS released the IRS Integrated Modernization Business Plan April 2019(Plan) – a six year Plan designed to modernize the IRS’ technology systems,

JD Supra

Tax Scams put Taxpayers at Risk

July 2019

Tax Scams put Taxpayers at Risk was published by JD Supra on 7/9/19. The IRS produces a yearly list of Tax Scams known as the Dirty Dozen that Taxpayers may encounter. IRS reiterates that Tax Scams put Taxpayers at Risk

JD Supra

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process?

June 2019

Is There an Anti-Money Laundering (AML) Component to the Revision of the IRS EIN Process? was published by JD Supra on 6/25/19. An EIN is also known as a Federal Entity Tax Identification Number (EIN) and is used to identify

JD Supra

IRS can Prove that a Taxpayer Under-Reported Income

June 2019

IRS can Prove that a Taxpayer Under-Reported Income was published by JD Supra on 6/18/19. There are Taxpayers that understate income, overstate expenses and present fraudulent claims on their tax returns for credits and deductions. These Taxpayers run the risk

JD Supra

Taxpayers can be Embarrassed when IRS Contacts a Third-Party

June 2019

Taxpayers can be Embarrassed when IRS Contacts a Third-Party was published by JD Supra on 6/18/19. Under Internal Revenue Code (IRC), Subtitle F – Income Taxes, Chapter 78 – Discovery of Liability and Enforcement of Title, Subchapter A – Examination

JD Supra

IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas

May 2019

IRS: Las Cuentas Financieras “Offshore” NO pasarán Inadvertidas was published by JD Supra on 5/14/19. El 15 de marzo del 2019, el IRS informó que la ocultación de dinero o activos en cuentas extraterritoriales (“offshore”) no declaradas permanece en la