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Crypto Couple's Victory Against the IRS Comes at the Cost of Regulatory Clarity
In May 2021, a Tennessee couple, Joshua Jarrett and Jessica Jarrett (Jarretts), filed a complaint with the IRS arguing that the Tezos...

Masters Tax
Mar 7, 20222 min read
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IRS Penalties: There are about 150 penalties, but a few would get relief
While most of the penalties are unforgiving and are enforced to the letter by the IRS, a handful of them can be relieved if the taxpayer...

Masters Tax
Mar 6, 20222 min read
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The IRS prohibits the 10-year extension for most legacy IRAs
Many owners of inherited IRAs are in for a surprise. In a change, the Treasury Department reinstated required annual minimum...

Masters Tax
Mar 5, 20224 min read
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Where is my IRS refund?
For many, that will be a perplexing question this year, as the understaffed agency is behind in processing millions of returns. However,...

Masters Tax
Mar 1, 20221 min read
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Opinion: The IRS is doing the best it can
s a former Internal Revenue Service employee who has seen firsthand how the lack of funding and the seemingly endless additional tasks...

Masters Tax
Feb 28, 20221 min read
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Filing Season 2022: IRS Form 1040 Changes Affect
stock options, RSUs and ESPPs Do not get surprised. IRS tax reporting has changed once again for stock compensation and stock sales. ...

Masters Tax
Feb 27, 20222 min read
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Despite privacy concerns, ID.me nearly doubled the number of people
able to create an IRS account The new platform makes it easier for more Americans, including low-income and minorities, to access their...

Masters Tax
Feb 26, 20222 min read
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The Future of Superfund Taxes Lies in IRS Flexibility
Now that the Biden administration has resurrected Superfund excise taxes on dozens of hazardous chemicals and substances, the countdown...

Masters Tax
Feb 24, 20223 min read
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Yes, you can fight the IRS in court, but in which court?
If you receive a notice or bill from the IRS, first consider whether you want to fight it. If you know the IRS is right, fighting can be...

Masters Tax
Feb 22, 20223 min read
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The IRS, stuck in the backlog of tax returns.
Scraps plan to close major processing facility Watchdog groups warned the tax collector that closing the Austin facility could have dire...

Masters Tax
Feb 21, 20224 min read
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Tax information on the IRS 1099 form
If you haven't received all of your IRS 1099 Forms in the mail yet, you should do so soon. These critical tax forms usually arrive in...

Masters Tax
Feb 20, 20223 min read
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The IRS, stuck in the backlog of tax returns
Scraps plan to close major processing facility Watchdog groups warned the tax collector that closing the Austin facility could have dire...

Masters Tax
Feb 19, 20224 min read
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Tax Cuts and Jobs Act Could Breathe New Life into Transfer Claim Implicit Intangibles
At the end of the 2016 Tax Court opinion in Medtronic, a short section briefly summarizes and summarily rejects what the opinion...

Masters Tax
Feb 18, 20225 min read
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How to write off legal fees on your taxes
Since 2018, it has been more difficult to deduct legal fees, and some plaintiffs in contingent fee cases pay taxes on their gross...

Masters Tax
Feb 17, 20223 min read
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Financial Information: IRS, Letter 6475, Plus-Up Payments, Child Tax Credit
The IRS offers various financial aid, such as credits and more, that you can request through your tax return. To continue; the details...

Masters Tax
Feb 14, 20222 min read
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IRS ordered 7 million Americans to sign up for facial scanning service
The chairman of the House Oversight Committee wants to know if the agency will order ID.me to destroy biometric data and how much it will...

Masters Tax
Feb 13, 20223 min read
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The IRS backlog reaches nearly 24 million returns, further jeopardizing the 2022 tax filing season
Nearly 24 million taxpayers are still waiting for the Internal Revenue Service to process their tax returns from last year, a far higher...

Masters Tax
Feb 12, 20223 min read
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If your child works and studies, they can receive a refund from the IRS
Children who work and study are eligible to obtain their tax withholding refund and at the same time they can appear as economic...

Masters Tax
Feb 11, 20222 min read
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Tax return 2021: How to send my presentation to the IRS and until when can I do it
Tax season has started in the United States. Here's how and where to send your return to the IRS and until when you can do it. Tax season...

Masters Tax
Feb 10, 20222 min read
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IRS to remove ID.me face scan verification for online accounts
The IRS announced today that it will stop using ID.me, a third-party service that uses facial scanning technology, as a requirement for...

Masters Tax
Feb 8, 20224 min read
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