The Top Five Cannabusiness Tax Myths It's difficult to understand cannabis tax, especially for those trying to figure out the tax obligations of their business. Knowing a business is legal in a particular state, but illegal according to federal law, makes taxes even more confusing. We’re...

Haven’t Filed Taxes in a While? How long has it been? 3 years? More? 10? Some people have never filed taxes. Why not?  “I knew I owed them, and I didn’t want to face the consequences.” “I couldn’t gather all of my records.” “My ex used to do them...

Year-End Tax Savings Strategies Though our firm specializes in helping people resolve their IRS or state back tax problems, we also love saving you money. After all, one of the best ways to avoid getting into tax trouble is to minimize your liabilities. The end of the...

More Recent Tax Cases You’ll Enjoy Reading About (Tax Fraud) If you liked our last stories, these will blow you away. Shirley, N.Y. In our first short story, we’ll introduce Fred Towle Jr., 52. Towle pleaded guilty to endorsing a false return for 2012 that underreported his business...

Snipes continues to getting knocked down by the IRS. Rather than give up, he too keeps getting back in the ring. In his latest skirmish with the service, the Tax Court held that the IRS did not abuse its discretion by refusing to accept his offer...

7 Recent Tax Cases You’ll Enjoy Reading About Warwick, R.I. Preparer Raymond Petrarca has pleaded guilty to 44 counts of filing fraudulent returns for clients. According to the court, Petrarca owned and operated the tax prep business Stratus Financial Group. He admitted to falsifying 44 returns prepared for...

For the vast majority of taxpayers, there is not much need to worry that you will be audited. In 2016, only 0.6% of individual income tax returns were audited according to the IRS 2017 Data Book. Why? For starters, after the IRS budget cuts, we lost...

Shakira Pays $25 Million in Back Taxes Shakira has reportedly paid a major bill for back taxes owed to the Spanish government. According to numerous reports, this international superstar has paid more than 20 million Euros - or $25 million - to the Spanish authorities to settle part...

If your business is more than a dispensary, you should consider splitting it into two businesses that are adjacent to each. Of course, it is advisable for any business owner, no matter the industry, to work with professionals when it comes to this matter.There are three...

No one wants to pay more income taxes than they are required to, but be careful if you prepare your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause you problems later on. You don't have to do...