Category: Blog Archive
Many business owners who contact a tax attorney have a similar experience: the problem did not begin with a large unpaid balance or a major audit. Instead, the issue usually started with something relatively small — a missed filing, an incorrect figure, a payroll adjustment that was never corrected, or a misunderstanding about how certain
Business tax reporting is often viewed as an exercise in precision—getting every number exactly right, maximizing deductions where allowed, and ensuring calculations comply with the rules. Accuracy certainly matters. But from an enforcement standpoint, precision alone is rarely what determines whether a return attracts scrutiny. In practice, the Internal Revenue Service evaluates business tax filings
What the IRS actually looks for—and why some returns attract attention For most taxpayers, the idea of an IRS audit feels opaque. The rules are dense, the systems are invisible, and when scrutiny appears, it often feels sudden or unexplained. In reality, audits rarely begin without context. The Internal Revenue Service relies heavily on patterns,
As the IRS recently reminded taxpayers through its national tax-security outreach, tax scams continue to evolve — and they remain a year-round concern for individuals, businesses, and tax professionals. While the IRS’s annual awareness campaigns highlight seasonal risks, the larger message is ongoing: cybercriminals are refining their methods, targeting financial credentials, and exploiting confusion about
Intuit, the maker of TurboTax, QuickBooks, Credit Karma, and Mailchimp, has entered a $100 million multiyear partnership with OpenAI to integrate generative AI into its suite of financial tools. The collaboration, announced November 18, 2025, aims to deliver more personalized, AI-driven financial experiences for both individuals and businesses. For business owners, this partnership represents more
Signed into law by President Donald J. Trump on July 4, 2025, the One Big Beautiful Bill Act (OBBBA) ushers in a new era of federal tax policy with wide-ranging consequences for businesses of every size. The legislation consolidates numerous corporate, pass-through, and international tax provisions into a single reform package—changing how companies calculate taxable income,
The familiar paper tax refund check—long a staple of filing season for millions of Americans—is about to be phased out. The Internal Revenue Service has confirmed that beginning September 30, 2025, paper checks for individual tax refunds will start disappearing, as the agency moves to a fully digital refund system. This change is not just
The IRS has long classified cryptocurrency and NFTs (non-fungible tokens) as property, taxed under capital gains rules—but recent enforcement steps suggest its appetite for digital asset oversight is intensifying. Here’s a deep dive into how the IRS treats crypto and digital assets, what’s shifting in 2025, and what taxpayers should know. Digital Assets Are Property
In an age when social media is becoming more of a source of financial and legal advice for millions of Americans, the IRS is issuing an unambiguous warning: TikTok is not your tax advisor. From viral refund “hacks” to misleading deductions promoted by self-styled influencers, the IRS says bad tax advice circulating on platforms like
The short answer? It’s not finalized yet — and even when it happens, it probably won’t be in the way most people assume. While federal proposals have advanced in both the House and Senate to change how tip income is taxed, these bills are still in negotiation, and the details vary dramatically. The bigger story:
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