IRS Issues Another Round of “Educational Letters” to Cryptocurrency Holders
Articles/News, Hot TopicsPosted on August 31, 2020
Posted on August 31, 2020
Posted on August 28, 2020
Being audited by the Internal Revenue Service (“IRS”) can be a traumatizing experience, to say the least. In this tell-all, former IRS Attorney, Kevin E. Thorn, discloses not only what each type of IRS tax audit entails, but also how to proceed in defending an IRS tax audit.
Read MorePosted on May 5, 2020
For cryptocurrency investors, the challenges of understanding how the Internal Revenue Code (IRC) applies to cryptocurrency transactions do not provide an excuse for non-compliance. As a result, as federal Tax Day approaches, individual and corporate taxpayers must ensure that they have a clear understanding of what they need to report on their federal returns. Contact Boston tax attorney Kevin E. Thorn today to get the answers you need and discuss your specific situation in greater detail.
Read MorePosted on April 30, 2020
The Internal Revenue Service (IRS) has formed a new Fraud Enforcement Office that will share responsibility for targeting tax fraud in the small business sector. In a March 5, 2020 statement announcing the creation of the Fraud Enforcement Office, the IRS wrote that the new office (which is housed within the Small Business/Self Employed Division) will work, “in support of IRS efforts to detect and deter fraud while strengthening the [IRS’s] National Fraud Program.”
Read MorePosted on January 28, 2020
On January 23, 2020, the Internal Revenue Service (IRS) announced the first major crackdown conducted by the Joint Chiefs of Global Tax Enforcement. In doing so, it sent a stern warning to U.S. taxpayers who have offshore accounts, and it signaled that taxpayers who fail to comply with the IRS voluntary disclosure requirements may be at risk in similar coordinated international law enforcement efforts in the coming years.
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