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IRS auditing small businesses that have reported losses in several consecutive years

by Bill Houston | Aug 22, 2019 | Business Audits

Apparently the IRS is focusing on small businesses that have reported losses in 3 or more consecutive years. Letters have gone out for the 2017 tax year advising some taxpayers that their business is being reviewed to determine if their ‘business’ is...

IRS is now sending letters to taxpayers with virtual currency (Bitcoin) transactions

by Bill Houston | Aug 14, 2019 | Cryptocurrency, Uncategorized

As part of it’s outreach efforts, the IRS is sending letters to some clients with virtual currency transactions advising them of potential failure to report income and pay taxes resulting from currency transactions or advising that transactions may have been...

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