by Daniel Pilla | Oct 12, 2026 | PTT Featured Article
HOW LONG SHOULD YOU KEEP YOUR RECORDS? The Answer is Disturbing How long should you keep your tax records? I’ve been asked this a million times, and my standard answer is relatively simple. The general rule is that Code section 6501(a) gives the IRS just three...
by Daniel Pilla | Sep 16, 2026 | PTT Featured Article
MISSOURI VOTERS REJECT SALES TAX PLAN Uncertainty Causes Voters to Embrace the Devil They Know Voters in Missouri had a rare chance to free themselves from the hassle and costs of the state’s personal income tax. Sadly, they rejected the move. The state...
by Daniel Pilla | Aug 7, 2026 | PTT Featured Article
IRS’s AI CHAT IS UNRELIABLE TIGTA Proves That the Tax Code is Too Complex For Technology To Fix(ChatGPT Can’t Even Decipher this… But YOU are EXPECTED to) The Treasury Inspector General for Tax Administration (TIGTA) recently released a revealing report on...
by Daniel Pilla | Jul 15, 2026 | PTT Featured Article
TREASURY WANTS BANKS TO BECOME QUASI-POLICE New FinCEN Rules Call for “Information Exchange” For decades, federal regulators have told banks that they are on the front lines in the fight against money laundering, terrorist financing and tax fraud. Now the Treasury...
by Daniel Pilla | Jun 12, 2026 | PTT Featured Article
SPECIAL REPORTWHAT TO DO WHEN A BUSINESS FAILS The Step-by-Step Process for Shutting Down Operations Small businesses are the backbone of the American economy, and while the definition of “small business” is somewhat nebulous, we all know one when we see one....
by Daniel Pilla | Mar 3, 2026 | PTT Featured Article
19 THINGS TO KEEP IN MIND FOR 2025 TAX FILINGS Tax Law Changes Continue to Muddy the Waters The One Big Beautiful Bill Act changed a significant number of rules and benefits for 2025 individual tax returns (and beyond). Consider these 19 critical points when preparing...
by Daniel Pilla | Feb 23, 2026 | PTT Featured Article
TARIFF DIVIDEND CHECKS? REALLY? Don’t Spend the Money Just Yet If I were you, I wouldn’t make any plans to spend the $2,000 tariff “dividend” rebates President Trump proposed for low- and middle-income taxpayers. The idea apparently is to offset the higher costs of...
by Daniel Pilla | Nov 4, 2025 | PTT Featured Article
THE IRS AND THE GOVERNMENT SHUTDOWN What May be in Store for Taxpayers The ongoing government shutdown illustrates just how deeply flawed our current tax system truly is. As of October 8, the IRS furloughed nearly half its staff, leaving taxpayers and practitioners...
by Daniel Pilla | Aug 27, 2025 | PTT Featured Article
THE TREATMENT OF GAMBLING LOSSES UNDER THE OBBBAGamblers Face Tax Liabilities on Phantom Income Under Code section 61, gambling income is fully taxable. It has been forever. Code section 165(d) controls the extent to which gambling losses are deductible. The law...
by Daniel Pilla | Aug 18, 2025 | PTT Featured Article
THE NEFARIOUS JOHNSON AMENDMENT How the Government Bought the Silence of the Church in America There’s a provision of the Internal Revenue Code that has effectively bought the silence of the church in America. By that we mean that the law in question is responsible...
