DOJ Captures Tax Fugitive, Discusses Penalties for Tax Crimes

On behalf of Frost Law posted in on November 18, 2019.

On November 6, 2019, the United States Department of Justice (DOJ) announced the capture of a tax fugitive.1 According to the DOJ announcement, the fugitive was a tax fraud promoter who had been on the run since the date he was supposed to start serving a 10-year prison sentence. The agency labeled him a fugitive […]

Tags: Blog, IRS


Can President Trump Change Residence for Tax Purposes?

On behalf of Frost Law posted in on November 6, 2019.

President Donald Trump recently stated in a Tweet that he was changing his residence to Florida. According to the tweet, the move was the result of poor treatment by politicians in New York even though he “pays millions of dollars in city, state and local taxes each year.” But will the move result in tax […]

Tags: Tax Controversies, Blog


What is Tax Evasion? A Recent Case Provides an Example.

On behalf of Frost Law posted in on October 30, 2019.

The Department of Justice (DOJ) recently announced the arrest, conviction and sentencing of a former Internal Revenue Service (IRS) employee. The crime: tax evasion. What is tax evasion? Tax evasion is more than just a simple mistake on one’s tax returns. When the government accuses a taxpayer of this crime, they are accusing the person […]

Tags: Tax Evasion, IRS, Blog


Will the New Tax Payment Option Lead to Abuse?

On behalf of Frost Law posted in on October 21, 2019.

The Internal Revenue Service (IRS) recently announced a new tax payment option for those who have fallen behind on their tax obligations. Although the agency states the option is meant to make it easier for taxpayers to pay their bill, tax professionals have voiced concerns it could lead to abuse. What is this new tax […]

Tags: IRS, Blog


IRS to Include Cryptocurrency Checkbox on 1040s

On behalf of Frost Law posted in on October 14, 2019.

The Internal Revenue Service (IRS) has struggled with the best way to manage cryptocurrency. Cryptocurrency, also known as virtual currency or digital assets and include example like Bitcoin, KlickEx, and Ethereum, are gaining in popularity. The government is trying to figure out the best way to include these assets in tax reporting. The most recent […]

Tags: IRS, Blog


IRS Clarifies per Diem Rates for Business Expenses

On behalf of Frost Law posted in on October 8, 2019.

The Internal Revenue Service (IRS) recently announced changes to its per diem rates. Per diem rates apply to the reimbursements given to employees to cover traveling expenses like meals, lodges and incidentals during business trips. It is important to stress the reimbursement component because the Tax Cuts and Jobs Act (TCJA) that went into effect […]

Tags: IRS, Blog


FBI Investigating Alleged Payroll Fraud Leaving Employees Without Wages and Unpaid Tax Withholding

On behalf of Frost Law posted in on October 1, 2019.

Various news outlets are reporting an ongoing FBI investigation of alleged payroll fraud by a New York-based payroll services provider, MyPayrollHR, that abruptly shut down in upstate New York earlier this month. Thousands of employees’ accounts have been drained and up to $35 million dollars, if $9 million of unpaid tax withholding is included, has […]

Tags: Tax Crimes, Blog


States Lose Court Battle Against SALT Limit

On behalf of Frost Law posted in on October 1, 2019.

The Tax Cuts and Jobs Act (TCJA) led to major changes to federal tax law. One example of the changes that impact taxpayers is the creation of a cap on the state and local tax (SALT) deduction taxpayers could claim on their federal tax returns. The limit, now set at $10,000, was a blow to […]

Tags: IRS, Blog


When does a Tax Crime Equal Prison Time?

On behalf of Frost Law posted in on September 29, 2019.

It may seem like an innocuous crime that would come with, at most, a financial penalty. Unfortunately, this is not always the case. The Internal Revenue Service (IRS) does not take lightly to information a tax payer may be committing tax crimes. When are tax crimes serious? One key distinction: Negligence vs Tax Fraud. Negligence […]

Tags: Tax Evasion, Tax Crimes, IRS, Blog


High Net Worth Individuals Flee High Tax States

On behalf of Frost Law posted in on September 16, 2019.

A billionaire recently told his New York staff that he was closing shop and relocating to Florida. Although warmer winters may have played a role in the decision, the move was more likely motivated by an attempt to reduce the entrepreneur’s tax obligations. Why would tax obligations fuel a move across the country? The Tax […]

Tags: Tax Topics, IRS, Blog