For Immediate Release – April 29, 2022 Justice Tax is excited to announce their newest partnership with Justice League of Credit! While Justice Tax and Justice League of Credit share the same homestead of Jacksonville, Florida, they both service clients nationwide, bringing tax relief and credit repair to the masses in need. The utmost goal…

The IRS conducts examinations of certain tax returns in order to ascertain compliance with tax laws. Usually, only a small percentage of tax returns are audited. In 2020, the agency audited only 0.3% of individual returns. Even though most taxpayers are unlikely to get audited, it helps to know what triggers an IRS audit just…

The IRS’ Criminal Investigation (CI) has been asked to provide expertise and intelligence in order to assist efforts to enforce sanctions on Russia. The IRS will be working alongside other law enforcement agencies in order to investigate cybercriminals, Russian oligarchs and those who facilitate illegal movement of money/assets on their behalf.   “CI has been called…

The IRS made an announcement in February this year that the interest the agency charges on tax debt will increase beginning April 1, 2022. This directly impacts taxpayers that pay less than what they owe in taxes this tax season, as they will be paying more in back taxes. Along with an increase in interest…

Tax scammers are not limited to anonymous entities operating from far. Many times, they can be somebody you hire the services of, such as a return preparer, owner of a company, or in this case, the founder of a tax return preparation service.  Instant Tax Service Scam  Fessum Ogbazion of Cincinnati was the founder of…

Payment platforms such as Venmo, PayPal, CashApp etc. are legally required to report certain financial transactions to the IRS and taxpayers. If financial transactions using a third party payment network exceeds a certain limit, the payer and the receiver of the pay may receive Form 1099-K.    What is Form 1099-K?  Form 1099-K, Payment Card…

Many people assume that the taxes in the U.S. are more severe than in other developed countries. However, facts prove that the US has a much more relaxed tax system, and a tax scale that is far lower than most European countries. The Tax Foundation, a leading independent tax policy nonprofit in the US, carried…

Most taxpayers know that taxes are charged on income received in the form of money, property, or services. The usual sources of income are wages, salaries, royalties, commissions, rent, fees, and tips, all of which are taxable to the recipient. However, there are certain unusual sources of income that are taxable too, which taxpayers need…

The tax season began on January 24th, 2022, 17 days earlier than last year. This tax season will be especially challenging for both the IRS and taxpayers due to the pandemic. Though the IRS said that it had been making preparations for the 2022 tax season for months, there could be processing delays. In order…

Non-fungible token (NFT) is a unique digital asset that can be sold or traded. An NFT is recorded, stored, and transferred on a blockchain, which is a kind of digital ledger, and can be purchased or sold using cryptocurrency or legal tender currency such as the U.S. dollar.     In NFT, the term ‘non-fungible’ means…

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