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Tax Fraud › Internal Revenue Service › Underpayment

Vinson & Elkins LLP

Civil Tax Fraud: Should 75 Percent Appear Too Small, Be Thankful the IRS Doesn’t Take It All

Vinson & Elkins LLP on

Mistakes happen, including when it comes to reporting and paying taxes. And for taxpayers and their advisors, those mistakes can lead to costly consequences, as the Internal Revenue Code (“Code”) allows the Internal Revenue...more

Fox Rothschild LLP

IRS Identifies Seven ERC Red Flags (and Other ERC Updates)

Fox Rothschild LLP on

The IRS recently issued a news release identifying seven signs that a business’s Employee Retention Tax Credit (the ERC) may be incorrect. The IRS identified these warning signs based on feedback from tax professionals and...more

Oberheiden P.C.

Eleven of the IRS's Enforcement Priorities During the 2021 Tax Season

Oberheiden P.C. on

It is tax season once again. While the Internal Revenue Service (IRS) has extended this year’s filing deadline to May 17, 2021 for individuals, businesses must still file by April 15, and all U.S. taxpayers must ensure that...more

Foodman CPAs & Advisors

IRS can Prove that a Taxpayer Under-Reported Income

Foodman CPAs & Advisors on

There are Taxpayers that understate income, overstate expenses and present fraudulent claims on their tax returns for credits and deductions.  These Taxpayers run the risk of being identified by the IRS and having IRS...more

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