An old German proverb states that “to change and to change for the better are two different things.” As 2024 ends, the legal and business communities who must navigate government scrutiny are seeing the signs of change in the regulatory
An old German proverb states that “to change and to change for the better are two different things.” As 2024 ends, the legal and business communities who must navigate government scrutiny are seeing the signs of change in the regulatory
Given the size of the government, it is no surprise that the IRS often has an advantage over taxpayers in tax controversy matters. Indeed, the agency has an army of specialized attorneys on its payroll to defend tax actions in
Monetizing intellectual property (IP) presents complex tax challenges, particularly in determining whether proceeds are taxed at favorable capital gains rates or higher ordinary income rates. Sales of IP assets must transfer substantial rights to qualify for capital gains treatment, while
On December 12, 2024, Frank Richard Ahlgren III of Austin, Texas, was sentenced to two years in prison for filing a false tax return, marking the first legal-source cryptocurrency income tax case. The case has garnered attention for its significance
Federal payroll obligations imposed on employers can be expensive and time-consuming. Therefore, it is not uncommon for companies to outsource these responsibilities to third parties referred to as “third-party payers” (TPPs). Under a TPP arrangement, the TPP deducts, withholds, and
With the holiday season officially upon us, the Dollars and Sense team wants to make sure you maximize your giving and gifting! For so many businesses, and business owners, this time of year also means employer festivities, and gifting, are
In recent headlines, an Ohio woman has brought a refund suit in district court, seeking recovery of taxes and withholding from the IRS that she claims were based on the improper return filed by her abusive ex-boyfriend. The ex-boyfriend fraudulently
In a bench opinion dated September 27, 2024, the Tax Court sustained a Notice of Federal Tax Lien but not the proposed levy against Daugerdas, a convicted tax shelter promoter in home confinement in Illinois.
The petitioner’s underlying tax liability
The Securities and Exchange Commission (SEC) has recently disclosed two settled enforcement actions against Prager Metis CPAs, an audit firm linked to FTX, the now-defunct crypto trading platform. The firm’s founder and former CEO, Sam Bankman-Fried, is currently in custody