by George Simpson | Sep 29, 2021 | Business News
Undisclosed Offshore Bank Accounts: You Must Take Action Immediately The IRS has issued strong messages to those with offshore bank accounts. You must disclose your offshore accounts or risk heavy financial penalties and possible imprisonment. The penalties are even...
by George Simpson | Aug 26, 2021 | Business News
Where Is Your Tax Refund? The IRS is holding millions of tax returns, thus delaying refunds for many taxpayers. The reason lies mainly with the pandemic. However, the IRS has also been overwhelmed with three rounds of stimulus payments, changes in the tax laws, and...
by George Simpson | Jul 28, 2021 | Business News
Biden’s Tax Plan: Will It Affect You? The Biden Administration’s expense budget released this May will concentrate on rebuilding the nation’s infrastructure, improving income equality, and extending the social safety net. Rather than strengthening the economy from the...
by George Simpson | Jul 1, 2021 | Business News
IRS to Substantially Increase Tax Audits The Biden administration wants to increase the number of tax audits by raising the IRS budget to over $80 billion and adding 87,000 new IRS jobs over the next decade. Biden plans to focus on the wealthy because the top 21...
by George Simpson | May 21, 2021 | Business News
Vehicle Deductions for Business Owners: Avoiding Problems with the IRS The Internal Revenue Service has strict eligibility rules concerning claiming business mileage deductions. If you are paying less tax by itemizing deductions though and use a vehicle for business,...
