Tag: willful

Finance

Supreme Court Weighs Steep IRS Penalties On Foreign Bank Accounts

11/03/2022
Bitcoin Ethereum News

Concept image for filing federal income taxes online and being audited. Computer keyboard, … [+] calculator and pen are placed on income tax form 1040. The ‘word’ AUDIT is stamped on...

Finance

IRS Audits With No Time Limit And No Statute Of Limitations

09/07/2022
Bitcoin Ethereum News

A stock photo of a Red Audit stamp on a 1040 US individual income tax return. Photographed at 50mp … [+] with the Canon EOS 5DSR and the 100mm 2.8 L lens. Getty With 87,000 new IRS agents on the...

Finance

IRS Cancels Millions Of Penalties And Will Issue Refunds To Taxpayers Who Already Paid Them

08/25/2022
Bitcoin Ethereum News

The IRS has announced widespread penalty relief for those who filed late during the Covid-19 … [+] pandemic. getty Given the pandemic, did you file your 2019 or 2020 tax returns late? It happene...

Finance

How IRS Can Tax ‘Gifts’ and Impose Big Penalties

04/18/2022
Bitcoin Ethereum News

Are gifts income the IRS can tax? Fortunately, no, but the line between what is income and what is a gift is sometimes fuzzy. Let’s say you do major favors for your employer and get a gift of $20,000,...