The Internal Revenue Service (IRS) uses many tools in its fight against tax fraud, including information available on social media platforms.
Those who rent and use vacation property likely purchased the real estate with tax savings in mind. Although these tax savings may still be available, the passage of the Tax Cuts and Jobs Act (TCJA) has changed how taxes are applied to second properties.
The Internal Revenue Service (IRS) has increased its efforts to track down those who are attempting to avoid U.S. tax obligations through use of the blockchain. The agency is using the technology in two ways. First, the IRS is looking into those who use cryptocurrency to hide assets and second, the agency is looking to use the technology as a tool in the fight against tax evasion.
The Internal Revenue Service (IRS) requires those who do not have a social security number but still have tax obligations to file taxes using an Individual Taxpayer Identification Number (ITINs). These numbers
Determining tax obligations is rarely an easy task, but it is likely to be even more difficult for the 2018 tax year. The passage of the Tax Cuts and Jobs Act (TCJA) led to major changes in the tax code. Some of these changes are relatively obvious to navigate, others are extremely complicated.