April 13, 2020 Mary Lee Miller EA, LLC   During the COVID-19 pandemic, the last thing you need is the IRS doing bad things, like auditing you or levying your bank account or wages.   But don’t worry—the IRS is pausing most of its collection and audit enforcement actions.   Installment Agreements   If you … Continued

Bradford Tax Institute April 2020 COVID-19: CARES Act Allows $100,000 Tax-Free IRA Grab and Repay   More Relief: Retirement Account Required Minimum Distribution Rules Suspended for 2020   The $2 trillion COVID-19 economic recovery bill finally made it through Congress and was signed into law by President Donald Trump on March 27.   The legislation … Continued

Mary Lee Miller EA, LLC April 1, 2020   COVID-19: Tax Season Delayed Until July 15 – Wait or file now?     As you know, the COVID-19 pandemic has shut down much activity in the United States.   The IRS decided to use its authority in a national emergency to postpone certain tax return … Continued

BY JEAN MURRAY Updated July 11, 2019 Cash businesses (those that take in mostly cash, such as restaurants, flea market vendors, beauty salons, and many others) are more likely to be audited by the IRS and have a particular problem when audited because it is difficult to verify income received in cash. It’s called the … Continued

IRS Tax Tip 2019-95, July 18, 2019 The deadline for taxpayers who requested an extension to file is going to be here before they know it. The deadline for these filers to submit their 2018 tax returns is Tuesday, October 15, 2019. Taxpayers who have not yet filed can find many helpful resources on IRS.gov. … Continued

  Anna Baydakova Jun 7, 2019 at 04:00 UTC   Every tax season, cryptocurrency investors in the U.S. struggle to figure out how much they owe the government. But next April it might be a little bit easier. Last month, the Internal Revenue Service (IRS) said it would “soon” issue new guidance on the tax treatment of … Continued

Why single parents could be missing out on a tax-saving opportunity CNBC If you’re planning on shedding weight in 2019 — in the form of your soon-to-be ex — be sure you understand this tax-planning benefit. Why the “head of household” status is another battleground for divorcing couples. Darla Mercado | @darla_mercado Published 2:07 PM ET … Continued