The IRS is stepping up criminally prosecuting business owners for failing to turn over withheld payroll taxes! In the last week there are no less than five (5) criminal prosecutions of business owners for failing the turnover withheld payroll taxes. Thinking of Borrowing From Your Company's Payroll Tax Withholdings? You Better Thank Again,…
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Commissioner Rettig Wants IRS Audits To 'Touch Every Neighborhood'
According to Law360, The Internal Revenue Service should “touch every neighborhood” in choosing which taxpayers to audit, IRS Commissioner Chuck Rettig said Monday in Philadelphia. The agency should be able to target different ZIP codes and types of cases in order to increase the rate of voluntary compliance, Rettig said during the 30th Annual Philadelphia…
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IRS Sets Up a Criminal Investigation Team for Bitcoin & Other Cryptocurrencies
The US Internal Revenue Service has set up a criminal investigation team to investigate whether Bitcoin and other cryptocurrencies are being used to evade taxes, according to news agency Bloomberg. The U.S. Internal Revenue Service, fresh off its success in uncovering U.S. assets hidden in Swiss banks, has assigned elite criminal agents to investigate whether…
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IRS is Behind on Implementing Speedy Corporate Audits
The TIGTA issued it's report on September 27, 2019 stating that the Internal Revenue Service isn’t effectively auditing corporations, despite a change in policy on how the agency was to conducts tax examinations, that was supposed to make the process more efficient. Historically, the LB&I Division has used a variety of methods to identify tax returns…
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