The IRS begins to reach out to crypto exchanges

A member of the Internal Revenue Service’s (IRS) assistant division and national fraud counsel teams announced her department’s intention to increase their remittance of “John Doe” letters to cryptocurrency companies soon. The IRS has previously sent these letters to...

Options for resolving high tax delinquencies

Debts can make anyone feel overwhelmed; however, there are few creditors that most U.S. consumers fear more than the Internal Revenue Service (IRS). There are many ways to find yourself owing $50,000, $100,000 or even $200,000 or more to the IRS. For example, you may...

State tax allowable and non-allowable deductions

Corporations are entitled to deductions that will be subtracted from the total gross revenue of the business. The total is the corporation’s taxable net income. For corporations in Massachusetts, some taxes are deductible under the Federal Internal Revenue Code but...