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After years of flying under the radar, taxpayers who hold Bitcoin, Ethereum, Litecoin and other cryptocurrencies are finally getting their fair share of scrutiny from the IRS. The tax agency, it seems, has figured out that cryptocurrency is here to stay, and that the mind-boggling returns early adopters have enjoyed could be a boon for government coffers. The tax agency…
Running your own business means wearing a lot of hats, from office cleaner and supplies buyer to client schmoozer and payroll maker. But should you add tax preparer to your already long list of duties? What if you have a tax problem with the IRS? What if doing your own taxes creates a tax problem? We often see small business clients, clients with either a schedule C, or a…
Of all the creditors or companies you might owe money to, the Internal Revenue Service can be the least forgiving about debt. If you don't pay your taxes, the IRS will levy and take possession of your property, including cash accounts, wages, and real and personal property. The IRS will sell non-liquid assets to raise funds to satisfy the debt you owe. If you’ve received…
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