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A dedicated team of IRS criminal investigation professionals is now working on identifying taxpayers who have omitted to disclose income from cryptocurrency. What Happened: In a Federal Bar Association presentation, Damon Rowe, the Director of the Office of Fraud Enforcement at the Internal Revenue Service, announced that the new efforts to this cause would be called “Operation Hidden Treasure.” According to Forbes, the operation comprises agents trained in cryptocurrency and virtual currency tracking and who are focused on taxpayers who omit cryptocurrency income from their tax returns...
To embed, copy and paste the code into your website or blog: This month’s court-ordered release of Paycheck Protection Program (PPP) loan data is expected to result in intense scrutiny of the loan forgiveness process, highlighting the need for recipients to proceed with caution when filing forgiveness applications. Multiple news organization sued the Trump administration in May demanding that it release information on the businesses that benefited from federal pandemic relief programs. A federal judge ordered the administration to disclose the information and on the evening of December 1,...
To embed, copy and paste the code into your website or blog: On December 8, 2020, the U.S. House of Representatives approved final passage of a $740.5 billion annual defense policy bill, the William M. (Mac) Thornberry National Defense Authorization Act for Fiscal Year 2021 (“National Defense Authorization Act” or “NDAA”), by a vote of 335-78-1, a veto-proof majority. Following a filibuster on December 10, on December 11, the U.S. Senate approved the NDAA by a vote of 84-13, also a veto-proof majority. The bill now heads to the President for his signature, who has threatened a veto be...