by Daniel Pilla | Dec 7, 2023 | PTT Featured Article
IRS PANICKING OVER ERC CLAIMS Agency Concerned that “Aggressive Marketing” Responsible for Bogus Claims Congress created the Employee Retention Credit (ERC) as part of the CARES Act of 2020. The CARES Act was one of six pieces of legislation enacted between March...
by Daniel Pilla | Oct 20, 2023 | PTT Featured Article
TAX COURT REMANDS CDP CASE TO DEVELOP A RECORD Judicial Review Impossible Without an Adequate Record The recent Tax Court case of Bickel v. Commissioner, Docket No. 22038-22L, provides great insight into the manner in which the IRS is to conduct Collection Due Process...
by Daniel Pilla | Aug 1, 2023 | PTT Featured Article
COURT ORDERS ENFORCEMENT OF SUMMONS FOR CRYPTO DATA Digital Currency Trading Information is NOT Private In case you continue to believe that your digital currency trades are private, consider this. A United States District Court in California, on June 30, 2023,...
by Daniel Pilla | Jul 7, 2023 | PTT Featured Article
UPDATE ON IRS SPENDING PLANS IRS Reveals Spending Plans for ITs Windfall In April the IRS released its long-awaited Strategic Operating Plan for how it intends to spend the $80 billion in supplemental funding granted by the Inflation Reduction Act of 2022. The making...
by Daniel Pilla | May 31, 2023 | PTT Featured Article
HOW TO DEDUCT EXPENSES INCURRED IN TRADING SECURITIES The Keys to Unlocking the Mysteriousand Elusive “Trader” Status With the advent of the Internet and the unfettered access we now have to national and international financial markets, it’s never been easier to trade...
by Daniel Pilla | Mar 31, 2023 | PTT Featured Article
ERC PROGRAM UNDER ATTACKProgram Named to IRS’s “Dirty Dozen” List In the February 2023 issue of PTT, I presented an article on the audit risks associated with the Employee Retention Credit (ERC). I pointed out that the IRS believes this credit is a source of...
by Daniel Pilla | Mar 2, 2023 | PTT Featured Article
15 THINGS TO KEEP IN MIND FOR 2022 TAX FILINGSTax Law Changes Continue to Muddy the Waters The 2022 tax filing season is in full swing, but most people will not file their returns until the April filing deadline. If the IRS owes you money, it’s most certainly in your...
by Daniel Pilla | Feb 8, 2023 | PTT Featured Article
HOW NOT TO RECONSTRUCT RECORDS Don’t Follow This Formula for Failure Lost or missing tax records are a regular and widespread problem. People lose records for a myriad of reasons, including fire, flood, hurricane, etc. My current client had her storage shed broken...
by Daniel Pilla | Nov 21, 2022 | PTT Featured Article
CRYPTO CASES TO TOP CI’S “TO-DO LIST” IN 2023You Can’t Hide Crypto Assets The Internal Revenue Service’s (IRS) Criminal Investigation (CI) function is charged with investigating allegations of criminal tax fraud, and assisting the Department of Justice (DOJ) and the...
by Daniel Pilla | Sep 2, 2022 | PTT Featured Article
THE BIDEN ADMINISTRATION DOESN’T KNOW WHAT A TAX CHEAT IS Deliberate Deception Inflames Greed and Envy In his letter to the U.S. Senate (see above), Commissioner Rettig did his part to carry water for the Biden Administration’s push for $80 billion in new funding to...
