214 in Congress Support IRS Penalty & Collection Relief Coalition
T. Steel Rose, CPA
“While the COVID-19 pandemic has strained every federal agency, the impact on the IRS has been particularly severe,” wrote the group of lawmakers to Treasury Secretary Janet Yellen and IRS Commissioner Charles Rettig. “As of December 23, 2021, the IRS continued to have a backlog of 6 million Forms 1040 (Individual...
MOREEverything You Need to Know About Form 1099-NEC
For business owners, the month of January is the time to prepare and send out tax information for employees and…
IRS Chief Counsel Signals Increased Tax Enforcement
The Internal Revenue Service (IRS) Chief Counsel is the chief legal advisor to the Commissioner of Internal Revenue on all…
IRS Facial Recognition Log In Deeply Troubling
According to the Federal Trade Commission’s 2021 Data Book, the Consumer Sentinel Network received over 4.7 million consumer reports focusing…
Top 1% of Taxpayers Pay More Taxes Than the Bottom 90% Combined
The Internal Revenue Service (IRS) has released data on individual income taxes for tax year 2019, showing the number of taxpayers, adjusted…
Tax Law Struggles to Keep Pace with the Proliferation of Cryptocurrency
The technical architecture of various cryptocurrencies makes it difficult to bring them within existing tax rules, even those designed to…
Snowbirds: Establishing Residency for Income Tax Purposes
Many people choose to move out of New York, New Jersey, Connecticut and other high-tax states to Florida, Texas, New…
New Form 1099-NEC for Reporting Non-employee Compensation Only
Last year, the IRS released a new form – Form 1099-NEC. This form is still in use for 2021. While…
No More Mister Nice Guy…No More “Good-Faith” Relief for ACA Reporting
The good news is that the deadline to furnish individuals with the Form 1095-C or Form 1095-B reporting health care…
Martin Luther King Tax Prosecution Revisited
In 1960, Dr. Martin Luther King Jr. became the first person prosecuted under the state of Alabama’s income tax perjury…
