Poker Account Theft
The poker community has had its share of scandals this year, and now faces another, as players have to be wary of fraudulent activity. It was reported that a
Pujols’ 700th Sold, Judge’s at Auction
Following up on a previous post, Albert Pujols’ 700th career home run ball was sold at auction for $360,000. The owner, a southern California resident,
Gambling in the Metaverse
If you have yet to familiarize yourself with the Metaverse, it is a virtual reality world that offers almost everything that can be found in the real world.
IRS Cracks Down on Line-Blocking Calls
If you have tried to contact the IRS recently, then you know how difficult it is to speak to an agent on the phone. A majority of callers will hear the dreaded “due
Cryptocurrency Reporting Highlighted in 2022 IRS “Dirty Dozen” List
Each year, the IRS outlines the most prevalent tax schemes and scams targeted at taxpayers. Many of the items on the list are niche and will not apply to
"Where's My Refund" Tool Updated
The IRS updated the “Where’s My Refund” tool to allow taxpayers to view the status of their refund from the prior three years. Before this change, it was
IRS Continues Use of "John Doe" Subpoenas
In an earlier post, I discussed the current legal fight of John Harper vs. the IRS. Although there is no conclusion to that case yet, “John Doe” subpoenas are
Draftkings vs. IRS - Daily Fantasy Sports Tax
Draftkings announced the IRS is still conducting an audit surrounding its status as a Daily Fantasy Sports (DFS) operator. The IRS believes DFS is a gambling
Stolen Goods Still Subject to Tax
A Philadelphia man was charged with filing a false tax return for his dealings in stolen copper and scrap metal. Michael Garrison raided power plants for any
FBAR Penalties Back on Trial
The IRS continues to crack down on taxpayers that failed to file Foreign Bank and Financial Accounts (FBAR) disclosures. The news of willful and
IRS Unveils Advanced AI Bots to Reduce Wait Times
The IRS has used automated messages and instructions to manage the call volume from taxpayers and tax professionals for quite some time.
Jarrett Case Still Provides No Clarity on Taxation of Cryptocurrency Staking
The lawsuit brought on in the Jarrett case was dismissed by the U.S. Court for the Middle District of Tennessee on September 30, 2022. The court sided with the
IRS Processing Times Are Frustrating...
If you have tried to contact the IRS recently, you are probably aware of the challenges of resolving an outstanding issue. Due to lack of funding,
Clarity Around Cryptocurrency Question on Form 1040
If you own any cryptocurrency, you are probably familiar with the question that now appears on the first page of your individual tax return: