July 18, 2018

IRS

Trump’s Supreme Court Pick Wrote Majority Opinion in Loving v. IRS

As Politico tax reporter Bernie Becker pointed out today, federal appeals court judge Brett Kavanaugh, who President Trump nominated to replace the retiring Justice Anthony Kennedy on the U.S. Supreme Court, wrote the majority opinion in Loving v. IRS that the tax agency does not have the legal authority to regulate tax return preparers in […]

IRS Commissioner Nominee Pledges He Will Work for All Taxpayers (Not Just Donald Trump)

Charles Rettig, the Beverly Hills, Calif., tax attorney who was nominated by President Trump to head the IRS and who once wrote that Trump’s lawyers should not advise him to release his tax returns, told senators on June 28 that he would work on behalf of the average Joe taxpayer, not just the rich. The […]

Religious Groups Think New Tax On Churches Is Blasphemous

Religious groups are starting to catch wind of a new tax quietly imposed by Republicans on churches and synagogues—and they are pissed. Yes, you read that correctly: a new tax imposed on churches. Politico reports: [Republicans’] recent tax-code rewrite requires churches, hospitals, colleges, orchestras and other historically tax-exempt organizations to begin paying a 21 percent […]

Man Who Would Have Unenviable Task of Overseeing Implementation of New Tax Law Changes at IRS Will Have Confirmation Hearing This Week

That man is Beverly Hills, Calif., tax attorney and member of the Academy of Magical Arts, Charles “Chuck” Rettig. The Hill reported last Friday that the Senate Finance Committee will hold a hearing scheduled for June 28 to consider Rettig’s nomination to be the next IRS commissioner. Rettig was nominated by President Trump earlier this […]

The IRS Has the Mother of All Nightmare Legacy Systems

Legacy systems are awful — so awful it’s the first thing I wrote about on Going Concern. To refresh your memory, legacy systems are obsolete software/hardware with so much technological baggage that they make you want to run away screaming, but you can’t for one reason or another. The most significant reason, unfortunately, is that […]

IRS Reminds Everyone to Report Their Crypto Trading Income and If You Don’t, Hey, Maybe You’ll Go to Jail

As we’ve discussed, some cryptocurrency traders have only recently learned that taxes are a thing. To make matters worse, some traders who made a lot of money wound up fully back in the market only to find themselves holding positions that now have huge paper losses. This situation is precisely the worst possible one to […]

irs tax season problems

Tax Pros: IRS Would Appreciate It If You Didn’t Foist Your Pushy Clients On To Them

Americans are desperate for help with their tax returns. The majority of taxpayers would settle for a DeVry University dropout with precisely three credit hours of accounting courses under their belt if it meant they wouldn’t have to deal with taxes at all. Tax professionals, likewise, are overwhelmed. The clients they do have are pushy, […]

IRS-tattoo-survey-Americans-taxes

The 20% of Americans Who Would Get an ‘IRS’ Tattoo to Never Pay Taxes Are Getting Off Too Easy

Americans hate paying taxes. This is not news. Why they hate paying taxes is a bit of a mystery. I reckon it has something to do with wanting to piss the money away themselves rather than have police or schools or national parks. Anyway, a survey by WalletHub found that some Americans are so intent […]

Tax Resistance Still a Great Way to Get the IRS’s Attention

Maria Lamagna reports in MarketWatch on Ed Hedemann, a 72-year-old independent contractor who hasn’t paid federal income taxes for over 40 years. And yes, he has his reasons: Hedemann, 72, still files tax returns every year, and he doesn’t falsify any information on them, he said, but he’s still had plenty of legal problems as a […]

Hiring Watch ’16: IRS Enforcement

If you've read our suggestions on getting over post-busy season depression and are left wondering, "What if I just quit?" know that that is definitely still an option! Take a couple weeks, figure some things out and know that when you're ready to work again, the IRS will be here waiting for you: The Internal […]