Live Breaking News & Updates on Irs penalties

Stay informed with the latest breaking news from Irs penalties on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in Irs penalties and stay connected to the pulse of your community

Will Putting Your Tax Return On Extension Increase IRS Audit Risk?

There’s no shame in an extension. Everyone can automatically get until October 15 by filing (electronically or by mail) a tiny form.

Automatic-extension , Income-tax-return , Irs , K-1 , Tax-day , File-on-extension , Extended-tax-deadline , Irs-audit , Irs-penalties ,

Some Taxpayers Beat The IRS In Court—Even If They Don't Have Receipts

Cohan v. Commissioner stands for the wonderful proposition that in an IRS audit, even if you don’t have receipts, you might still qualify for a tax deduction.

Georgem-cohan , David-villa , Juannam-villa , Tax-court , Doodle-boy , Cohan-case , Irs-audit , Irs-penalties , Tax-audit , Substantiation-requirements , Tax-fraud , Tax-evasion

IRS & California Give San Diego Storm Victims Tax Relief To June 17

The IRS and FTB have postponed tax filing and payment deadlines to June 17, 2024. Individuals and businesses have until June 17, 2024, to file returns and pay taxes.

San-diego-county , California , United-states , Emergency-management-agency , Franchise-tax-board , Federal-emergency-management-agency , San-diego , Nontaxable-income , Irs , Tax-extensions , Irs-penalties

If Your IRS Form 1099 Is Wrong, Here's How To Correct It With IRS

Say you were paid a consulting fee of $30,000 in 2023, but the 1099 you received in January 2024 is for $300,000? What should you do? First, act promptly.

Social-security , Irs , Form-1099 , Incorrect-irs-1099 , Wrong-form-1099 , Corrected-form-1099 , Irs-audit , Tax-evasion , Irs-penalties ,

Loans Aren't Taxed By IRS, But Disguised 'Loans' Can Be Criminal

If you borrow $10,000, is it taxable income? No, since you have to pay it back, it does not count as income—if it’s a real loan. But IRS audits what is a 'loan.'

United-states , Minnesota , Davidv-erickson , Halstead-bay-holdings , Department-of-justice , A-department-of-justice , Irs , Tax-evasion , Tax-fraud , Irs-audit-discharge-of-debt-income , Cod-income

IRS to give extension to Rhode Island taxpayers impacted by September flooding, tornadoes

The IRS said it will provide tax relief for individuals and businesses in Rhode Island that were affected by storms, flooding and tornadoes in September 2023.

Rhode-island , United-states , Providence-county , Revenue-service , Internal-revenue-service , Business-finance , Disaster-accident , Weather , Environment , Tax-return , Irs-penalties

IRS Extends Tax Deadlines Until June 17 For Connecticut Storm Victims

The IRS is giving more time to Connecticut taxpayers affected by severe storms that began on Jan. 10. These taxpayers now have until June 17, 2024 to file and pay taxes.

Connecticut , United-states , Mohegan , New-london-county , Emergency-management-agency , Federal-emergency-management-agency , Mohegan-tribal-nation , Mashantucket-pequot-tribal , Nontaxable-income , Irs , Fema

IRS Warns That Crypto Income & Gains Must Be Reported On Tax Returns

IRS reminds taxpayers to answer a digital asset question on 2023 tax returns and report all digital asset related income when they file tax returns.

United-states , S-corporation , Us-corporation-income-tax , Us-return-of-partnership-income , Individual-income-tax-return , Alien-income-tax-return , Tax-return , Partnership-income , Income-tax-return , Capital-assets , Capital-gains

Conservation Easement Tax Shelter Promoters Get 23 & 25 Years Prison

The IRS does not like syndicated conservation easement tax deductions, and some promoters end up with criminal charges. Two men were sentenced to 23 and 25 years.

United-states , Cpas-stein , Victor-smith , Ralph-anderson , Walter-douglas-terry-roberts , Jack-fisher , William-tomasello , James-benkoil , James-sinnott , Randall-lenz , Corey-agee , Mercedes-benz

IRS Extends Tennessee Storm & Tornado Victim Taxes To June 17, 2024

These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments.

Tennessee , United-states , Emergency-management-agency , Federal-emergency-management-agency , Nontaxable-income , Irs , Fema , Irs-storm-extension , Tornadoes , Tax-extension , Irs-penalties

Live Breaking News & Updates on Irs penalties

There’s no shame in an extension. Everyone can automatically get until October 15 by filing (electronically or by mail) a tiny form. Automatic-extension , Income-tax-return , Irs , K-1 , Tax-day , File-on-extension , Extended-tax-deadline , Irs-audit , Irs-penalties ,

Say you were paid a consulting fee of $30,000 in 2023, but the 1099 you received in January 2024 is for $300,000? What should you do? First, act promptly. Social-security , Irs , Form-1099 , Incorrect-irs-1099 , Wrong-form-1099 , Corrected-form-1099 , Irs-audit , Tax-evasion , Irs-penalties ,

There’s no shame in an extension. Everyone can automatically get until October 15 by filing (electronically or by mail) a tiny form.

Automatic-extension , Income-tax-return , Irs , K-1 , Tax-day , File-on-extension , Extended-tax-deadline , Irs-audit , Irs-penalties ,

Say you were paid a consulting fee of $30,000 in 2023, but the 1099 you received in January 2024 is for $300,000? What should you do? First, act promptly.

Social-security , Irs , Form-1099 , Incorrect-irs-1099 , Wrong-form-1099 , Corrected-form-1099 , Irs-audit , Tax-evasion , Irs-penalties ,