Recent Articles
Should You Report Cryptocurrency on FATCA Form 8938?
Navigating IRS Rules for Foreign-Held Crypto Many investors hold cryptocurrency in foreign exchanges or offshore accounts, raising questions about tax reporting obligations, particularly regarding FATCA Form 8938. Understanding these rules is crucial to avoid costly penalties. Key Focus: Compliance and...
New IRS Guidance on Cryptocurrency
Navigating Evolving Tax Rules for Digital Assets: What Taxpayers Must Know The IRS has introduced new guidance regarding cryptocurrency taxation, including Revenue Procedure 2024-28 and Notice 2025-7. These changes aim to clarify reporting obligations and enhance tracking requirements for digital...
IRS Dirty Dozen Tax Scams to Watch Out for in 2025
Protecting Yourself from Fraudulent Schemes The IRS annually releases its “Dirty Dozen” list to alert taxpayers, businesses, and tax professionals about prevalent scams. Staying informed is crucial to safeguarding your financial and personal information. Core Message: Vigilance and Awareness The...
Nevada Woman Admits to $98 Million COVID-19 Tax Fraud
Las Vegas Business Owner Pleads Guilty to Massive Fraudulent Scheme A Nevada woman has pleaded guilty to orchestrating a massive COVID-19 employment tax fraud scheme involving the filing of over 1,200 false tax returns and fraudulently claiming millions in refunds. ...
Florida Financial Advisor Admits to Massive Tax Fraud and Client Theft
Delray Beach Advisor Pleads Guilty to Multi-Million Dollar Scheme A Florida financial advisor, Stephen T. Mellinger III, has pleaded guilty to orchestrating a nearly decade-long conspiracy involving an illegal tax shelter, false tax returns, and the theft of millions from...
Tax Court Slams Freelance Movie Critic for Misclassifying Income
Freelancers Beware: Misclassifying Income Leads to IRS Penalties A recent Tax Court decision involving a freelance movie critic serves as a stark reminder for freelancers and online sellers: accurate income classification is crucial. The court ruled against the taxpayer, who...