Washington D.C. Tax Law Blog

On March 17, 2020, as part of a relief effort in response to the economic effects of the coronavirus pandemic, Treasury Secretary Steven Mnuchin announced the government’s unprecedented move to delay the April 15thtax-payment deadline for certain individuals and businesses-penalty and interest free. Although full details of the maneuver have not been released yet, it […]

On March 11, 2020, in an effort to assist businesses affected by COVID-19’s economic impact, Maryland Comptroller Peter Franchot announced the June 1stextension of business-related tax filing deadlines. Specifically, the announcement provided that: [t]he June 1stextension applies to certain business returns with due dates during the months of March, April and May 2020 for businesses […]

Tax season is upon us. The tax filing deadline is just over four weeks away and many taxpayers are gathering their tax forms and starting to fill out their returns. Whether looking at a big refund or a tax bill, taxpayers can help to better ensure a smooth process by avoiding these common errors: Mistakes […]

Every year during tax season, many tax professionals and taxpayers eagerly await the release of IRS Wage and Income Transcripts in order to assist in return preparation. Wage and Income Transcripts provide valuable data, which the IRS compiles from information returns it receives, such as Forms W-2, 1099, 1098 and Form 5498, IRA Contribution Information. […]

Tax audits are not uncommon. The Internal Revenue Service (IRS) conducted one million audits in 2017 alone. The agency generally conducts these tax audits either through mailings or with an agent showing up at your home or place of business. The agency conducted the vast majority of the one million audits from 2017, approximately 75%, […]

From generous estimations to outright lies — what happens when you lie on your taxes? The lure of a lower tax bill or higher tax refund may tempt taxpayers to fudge the numbers on their tax return. However, such maneuvers can come with serious consequences. How serious are the consequences? Not surprisingly, the severity of […]

The Internal Revenue Service (IRS) recently announced plans to increase visits to a certain group of taxpayers. The agency’s focus includes those who meet the following criteria: 1) earnings of over $100,000 annually, and 2) failure to file income tax returns. When will the agency begin to implement this new focus? According to a recent […]

Our legal system expects a lot out of small business owners. This system expects these entrepreneurs to follow the rules of their chosen business structure while also making sure they meet all required tax obligations. This is on top of balancing their business plan and making sure they are successful within their market. A failure […]

On February 3, 2020, Florida Attorney General Ashely Moody issued a video consumer alert warning taxpayers to “Watch Out for Tax Identity Theft Scams” and providing tips for Floridians to help them avoid becoming victims of scammers.1 Significantly, the Attorney General noted that a common ploy involves the fraudulent filing of a person’s tax return […]

A new tax enforcement organization is set to ramp up the nation’s ability to keep an eye out for tax evasion. The Joint Chiefs of Global Tax Enforcement, or J5, may sound like something out of the Marvel Universe. In reality, it is a collaborative effort of five major intelligence communities working together to bring […]