The IRS is contested by taxpayers for a number of reasons; sometimes rightly, sometimes wrongly. Though it is the right of taxpayers to disagree with the IRS and seek clarification, there are certain arguments the IRS and the courts regard as frivolous. These arguments have no legal basis and they have been proved wrong by the courts again and…

There are certain arguments that the IRS terms as “frivolous”. These are arguments that the IRS and the courts have dismissed many times because they are not based on the correct interpretation of the law. Misinterpreting the meaning of income and wages is a ploy used by some to avoid paying income tax. When in…

Along with the misinterpretation of the Internal Revenue Code, many people use their own interpretation of the amendments to the constitution of the United States to prove their point. When such arguments are brought before the courts or the IRS, they do not stand a chance because they have been dismissed by the courts many times…

Some taxpayers make inaccurate interpretations of the Internal Revenue Code, which do not sit well with the IRS and the courts. These are called frivolous arguments by the IRS, unfounded arguments that many have tried to prove correct, but failed. Prior to putting forth your case before the IRS or the court, know about these 4…

Retirees who receive earnings from contract or freelance work might get a huge tax break under the Tax Cuts & Jobs Act. A 20% tax deduction is available to pass-through entities that retirees can qualify for. A pass-through business includes sole proprietorships, partnerships, limited liability companies, and S corporations. If you are retired and work as a consultant, tutor, coach,…

If you are a combat-injured veteran and you received Letter 6060-A or 6060-D from the IRS, it means you are eligible for a tax refund. The IRS is sending out these letters to affected veterans so that they can file an amended return to claim their refund before it’s too late. To file a claim,…

The IRS has been shouting hoarse about the lack of funding for years. Due to cuts in funding, the agency had to shrink many of its services. But there’s another big loss happening: a research study from Indiana University Kelley School of Business has revealed that budget cuts at the IRS have lead to the loss of billions…

Whom do you contact for tax assistance if you cannot afford a professional tax service? You can read through the information on the IRS website, which might not tell you exactly what to do. Or, you can call the IRS, which most likely doesn’t get you to talk to an agent. Essentially, you are on your…

The IRS has turned its focus on virtual currency owners and investors. The IRS in its July 26, 2019 press release said that it has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions or did not report their transactions…

Amidst piles of information about the ACA and how it impacts your taxes and financial planning, many taxpayers are confused about what they need to do to take advantage of the benefits available to them. As a small business owner, you can enjoy advantages that can help you maximize your health-care benefits and save more in taxes as…

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