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Top 5 IRS updates coming in 2023

As we approach the end of a bumpy 2022, it’s important for taxpayers to stay informed about the latest updates from the Internal Revenue Service (IRS) and how they can help position themselves f...

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Looming Tax Dilemma on the Horizon
If you think your tax filings this year have been confusing, just wait until next year’s. A new tax dilemma looms. IRS Commissioner Cautions Americans on Next Filing Season That was the warning IRS Commissioner Doug Shulman gave taxpayers. He said ...
Former Lt. Governor Abel Maldonado in IRS Tax Heat
Average Joes commonly think that politicians have it easy. They get to work the system, make connections, and avoid certain things, like taxes. But tell that to former California Lieutenant Governor Abel Maldonado, who now finds himself in the middle...
How to Deal with Identity Tax Theft
Being a victim of identity tax theft can put you in a very frustrating situation. Not only can someone take out loans in your name and have you pay for it, they can also file a tax return with your Social Security number and get a refund worth thousa...
Golden State Suffers $10 Billion Tax Gap
In the Golden State, things are looking less golden for Sacramento’s bean counters. The chief researcher for California’s tax agency told his supervising board that the state loses out on $10 billion every year at a time when the state is making ...
One of Every Eight Millionaires Audited
There’s an old saying that says the more money you make, the more problems you have. And for those Americans making at least $1 million a year, those problems weren’t fun. It translates to more millionaires audited. Millionaires Audited More Ofte...
Common Tax Filing Mistakes to Avoid
With April 15 coming up in a matter of weeks filing your tax returns will soon be off your to-do list – if you haven’t already filed. But being busy with work, kids or running a business can cause us to make mistakes on tax returns. Common tax fi...
Peyton Manning to Pay Less Income Tax in Colorado
In one of 2012’s biggest sports deals, star NFL quarterback Peyton Manning signed a $96 million, five-year deal with the Denver Broncos. Released by the Indianapolis Colts to free up some capital, Manning was courted and sought by multiple teams. P...
Boxer Manny Pacquiao Subject of Tax Inquiry at Home
He may be able to knock out prize fighters in the ring, but that doesn’t mean eight time world champion boxer Manny Pacquiao is free from the tax man. Manny Pacquiao Can’t Knock Out the Tax Man Tax authorities in Pacquiao’s home country the...
Legislature Across Country Tweak Tax Codes
Politicians across the country are trying to change their state’s tax laws and the impact on their constituents’ pocketbooks. But why tweak tax codes now? Why tweak tax codes? While federal income tax rates are out of bounds, state taxes like inc...
Kid-friendly Tax Deductions
Raising kids can cost a fortune. In fact, the cost of raising children grew 40 percent over the past decade. But as the economy continues to drift upwards, there are some hidden deals you can take advantage of. So we thought we’d do a roundup o...
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