Washington D.C. Tax Law Blog

The Internal Revenue Service (IRS) has struggled with the best way to manage cryptocurrency. Cryptocurrency, also known as virtual currency or digital assets and include example like Bitcoin, KlickEx, and Ethereum, are gaining in popularity. The government is trying to figure out the best way to include these assets in tax reporting. The most recent […]

The Internal Revenue Service (IRS) recently announced changes to its per diem rates. Per diem rates apply to the reimbursements given to employees to cover traveling expenses like meals, lodges and incidentals during business trips. It is important to stress the reimbursement component because the Tax Cuts and Jobs Act (TCJA) that went into effect […]

Various news outlets are reporting an ongoing FBI investigation of alleged payroll fraud by a New York-based payroll services provider, MyPayrollHR, that abruptly shut down in upstate New York earlier this month. Thousands of employees’ accounts have been drained and up to $35 million dollars, if $9 million of unpaid tax withholding is included, has […]

The Tax Cuts and Jobs Act (TCJA) led to major changes to federal tax law. One example of the changes that impact taxpayers is the creation of a cap on the state and local tax (SALT) deduction taxpayers could claim on their federal tax returns. The limit, now set at $10,000, was a blow to […]

It may seem like an innocuous crime that would come with, at most, a financial penalty. Unfortunately, this is not always the case. The Internal Revenue Service (IRS) does not take lightly to information a tax payer may be committing tax crimes. When are tax crimes serious? One key distinction: Negligence vs Tax Fraud. Negligence […]

A billionaire recently told his New York staff that he was closing shop and relocating to Florida. Although warmer winters may have played a role in the decision, the move was more likely motivated by an attempt to reduce the entrepreneur’s tax obligations. Why would tax obligations fuel a move across the country? The Tax […]

The Internal Revenue Service (IRS) recently released a publication reminding taxpayers the third quarter estimated tax payment for 2019 taxes is due soon. Normally, the tax payment is due on September 15th. However, since September 15th falls on a Sunday this year, the agency expects taxpayers to make their payment by Monday, September 16th. What […]

Getting accused of a tax crime is a serious matter. The allegations can range from a relatively minor discrepancy that results in a financial penalty to major errors that lead to prison time. One of the key factors that will determine the severity of the allegations is whether the government claims the crime was willful. […]

On August 22, 2019, the United States Attorney’s Office for the Central District of California reported the unsealing of a 252-count federal grand jury indictment charging 80 defendants, mostly Nigerian nationals, with conspiracy to steal and launder millions of dollars via multiple online fraud schemes. The report emphasizes that the “FBI is committed to working […]

A failure to adjust your tax withholding can lead to serious problems. Your tax withholding impacts how much tax the Internal Revenue Service (IRS) and state tax authorities take out of your paycheck. The government expects taxpayer to pay their tax obligations throughout the year. What happens if you do not pay 90% of your […]