Taxes

Five Texas men have pleaded guilty in a scheme to fraudulently obtain and launder millions of dollars in forgivable Paycheck Protection Program (PPP) loans. PPP Loans PPP loans were designed to help small businesses keep their workers on payroll during the Covid-19 pandemic. While loans were obtained from various lenders, they were guaranteed through the

The IRS is continuing to expand online services available to tax professionals who use ta Tax Pro Account. A Tax Pro Account allows tax professionals to access a digital self-service portal to view and manage certain taxpayer information. Tax Pro Account If you aren’t familiar with the Tax Pro Account, you can find it online

The IRS has announced the availability of expanded chatbot technology on the official IRS website to help answer basic questions for people receiving notices. The announcement alone is pretty exciting for taxpayers and tax professionals who have found themselves sitting on speaker phone for what feels like an interminable wait to talk to an IRS

With a government shutdown on the way, federal agencies are taking steps to get ready—including the IRS. The IRS released its contingency plans on Thursday, Sept. 29 (you can read more about it here). Today, the National Taxpayer Advocate, Erin M. Collins, detailed the Taxpayer Advocate Service plans, noting, “today is the last workday I

An Internal Revenue Service consultant has been charged with disclosing a cache of tax return information without authorization. You can read about the charges here. The charges are not proven, but according to court documents, Charles Littlejohn, 38, of Washington, D.C., while working at the IRS as a government contractor, stole tax return information associated

This article focuses on another tax governance obligation for large businesses in the UK; the requirement to publish their tax strategy. It is a follow-up to a previous article about Senior Accounting Officer (SAO) requirements. As well as businesses that fall within the SAO regime, it is a legal requirement for all qualifying groups, companies,

With only days to go until a potential government shutdown, the Internal Revenue Service (IRS) has announced that it would furlough 60,000 of its employees if the government shuts down on Sunday. This drastic move has worrying implications for both the IRS and taxpayers. Not only will the IRS face a crippling reduction in staff,

It looks as if a government shutdown is imminent—and federal agencies are taking steps to get ready, including the IRS. According to the Washington Post, the government started notifying federal workers on Thursday, Sept. 28, that a shutdown was likely. The Department of Treasury followed suit. I previously reported that Treasury’s Contingency Plan was noticeably

Two individuals have been charged with allegedly promoting and selling abusive trust tax shelters to clients across the country. The Department of Justice announced that a federal grand jury in Denver returned an indictment charging Timothy McPhee of Estes Park, Colorado, and Larry Conner of Frisco, Texas, with conspiring to defraud the United States and

Remember that huge IRS backlog? It’s easy to think back and assume that the problems began with the pandemic, but they had started well before that. The last government shutdown started the IRS on its path to a massive paper logjam. Here’s a look at what happened. Could it happen again? 2018 Shutdown In 2018,