Your IRS Questions Answered Here…
Question: I do not have the funds to pay what I owe for my 2018 income tax return. I also was late in filing the return. Not only is the IRS demanding the tax I owe, but they have slapped on these huge amounts for penalties and interest. I had extenuating circumstances that caused all […]
Did You Know?
Exotic dancer Chesty Love decided that she needed breast implants to get bigger tips. The IRS said no to the deduction she claimed for the size 56FF implants, but the tax court disagreed, deeming the implants as depreciable assets, a type of stage prop.
A Thousand Talents But Staying Out of Trouble Is Not One of Them
Xiao-Jiang Li, a former Emory University professor, pleaded guilty to filing a false tax return. Li did not declare income he made as a participant in the Thousand Talents Program, which recruits professors and researchers to work for China. Li was sentenced to one year of probation and ordered to pay restitution in the amount […]