It's tax filing season.  And again this year, we had some tax laws extended by Congress through 2016 or 2019, but some were actually made permanent.  I'm going to discuss those tax provisions that have been extended or made permanent for individual taxpayers. 

Criminal Investigations can be initiated from information obtained from within the IRS when a revenue agent (auditor) or revenue officer (collection) detects possible fraud.  Information is also routinely received from the public as well as from ongoing investigations underway by other law enforcement agencies or by United States Attorneys offices across the country.

Social Security benefits are eligible for levy by the IRS.

Most people never pay estate taxes because of the exemptions that apply to the tax, and the estate tax exemptions for 2015 and 2016 may save taxpayers millions of dollars. that would otherwise go to the IRS. How much is the estate tax exemption for 2015 and 2016? 

Under federal rules, anyone who receives an insurance subsidy must file a tax return to verify that the person was eligible and received the proper amount of financial assistance based on household income.  There is the risk of loss of health insurance subsidies for failure to file tax return.

Almost half of all marriages end in divorce.  This article discusses the rules on divorce and social security with the goal of helping you maximize your benefits.  Before filing for social security, you should get the facts on your marriage(s) durations and divorce dates.  

The "Cadillac Tax" is a 40% penalty (excise tax) on health insurance plans and a provision of the Affordable Care Act that takes effect on January 1, 2018.

If you withdraw money from your individual retirement account before age 59 1/2, you will generally have to pay a 10 percent early withdrawal penalty in addition to income tax on the amount withdrawn. This means a $5,000 withdrawal taken by a mid-career worker in the 25 percent tax bracket would result in $1,750 in taxes and penalties. But there are a variety of ways to avoid the IRA early withdrawal penalty if you meet specific criteria:

The idea that there’s no such thing as a free lunch could eventually ring true for employees who get complimentary meals at work, as the Internal Revenue Service and Department of the Treasury have taken a step closer to potentially taxing such meals. Last year, the IRS suggested in its Priority Guidance Plan that it was exploring modifying sections of the Tax Code concerning employer-provided meals that it believed were problematic.

The trust fund recovery penalty allows the IRS to collect the unpaid withholding taxes from the assets of the owners and operators of businesses. It penalizes those who had control over the decision to divert the payroll money from the IRS to other creditors of the business. The trust fund recovery penalty is equal to the income taxes, social security taxes, and Medicare taxes withheld from employee paychecks. 

Interesting Estate Tax Facts.  The federal estate tax is a tax on property (cash, real estate, stock, or other assets) transferred from deceased persons to their heirs. Only the wealthiest estates pay the tax because it is imposed only on the portion of an estate’s value that exceeds a specified exemption level — $5.43 million per person (effectively $10.86 million per married couple) in 2015.

Affordable Care Act, Taxes, Fines and Employer Mandates

Tax on Inherited IRAs

There is a way to make tax liens disappear from your credit reports completely, and quickly, though. Unfortunately, not all taxpayers who are dealing with this problem know about it.

I have provided 5 often overlooked tax deductions that just might save you real money on your taxes this year.

As we approach another tax season, an area of taxation that can be complicated for taxpayers involves the tax treatment of irrevocable trusts.

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. 

An individual who can qualify as a “real estate professional” for federal tax purposes enjoys some unique tax benefits.  

The IRS has announced updated procedures for taxpayers to file overdue FBAR (Foreign Bank Account Report) foreign account disclosures.  

Most states maintain some sort of successor liability provision in their tax statutes.