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Tax Issues

7 Tips to Reduce Your Chances of Falling Victim to Tax Identity Theft

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  Tax identity theft occurs when identity thieves obtain your Social Security number and file a fraudulent tax return on your behalf. According to the Federal Trade Commission, tax identity theft is the most common form of identity theft. The FTC estimates that it costs taxpayers over $5 billion a year. Consumer advocates believe that […]

CAN YOU TAKE ADVANTAGE OF THE NEW R&D TAX CREDIT?

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  You don’t have to wear a white lab coat to claim the federal research and development tax credit if you meet the four criteria outlined in Internal Revenue Code Section 41 and its regulations. Learn why failing to explore this credit may be leaving money on the table. Many manufacturing companies fail to take […]

Do You Need A Tax Attorney if You Owe Back Taxes?

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  If you owe back taxes you might think you need a tax attorney, but that’s not necessarily always the case. Just like hiring a traditional accountant to try to resolve your tax debt might not be the best choice, hiring a tax attorney, who doesn’t specialize in tax resolution might be the same thing. […]

Did You Make Money with Cryptocurrency? How to Get Right with the IRS

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  For early adopters of Bitcoin, Ethereum and other popular cryptocurrencies, the profit potential has been simply stunning. While there have been some heart stopping moments and frightening ups and downs, the clear long-term trajectory has been upward.   If you are one of those early adopters who profited from the rise in cryptocurrency values, […]

Avoid These 5 Common Tax Filing Mistakes That Can Get You In Tax Trouble

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    Whether you file the simple 1040EZ or a complex 1040 and a raft of schedules, making a mistake on your tax form could lead to big tax trouble. Something as simple as a math error or unsigned form could invite extra attention from the IRS.   The tax agency sees those mistakes every […]