About the Author TaxCure Staff

This is a compilation of articles and blog posts that TaxCure staff has created.
November 4, 2021By: TaxCure Staff

As I was going about my day, I received automated calls (one of many over the last few months) from a so-called Mary Fletcher discussing how as a state resident I may want to consider enrolling in the new tax compromise program provided by the American Rescue Plan Act of 2021. I also received another from Eva Smith, about the Offer In Compromise program that is “now open for enrollment.” As soon as I received the message, I knew it was false or misleading. Here is a transcription of the voicemails I received (and many others probably received) and what you should do if you are facing tax problems.

January 8, 2021By: TaxCure Staff

Recently, the Treasury Inspector General for Tax Administration (TIGTA) advised the Internal Revenue Service (IRS) that it was losing billions of dollars in tax revenue due to unreported and underreported 1099-K income. A report released on December 30, 2020, explained the methods TIGTA used to find unreported 1099-K income, TIGTA's recommendations, and the IRS's plans to address this part of the tax gap. If you have 1099-K income, you need to understand what is happening. Here is a breakdown of the essentials.

July 7, 2020

Most people are looking for a way to reduce their tax bill, but it can be daunting to figure out how to minimize tax liabilities without getting on the IRS’ radar. Despite similar terms, tax avoidance and tax evasion have key differences that can help individuals and families make the best financial decisions for their situation.

June 30, 2020By: Charlie CorselloTaxCure Staff

The IRS released data for 2019 with a few interesting numbers related to enforcement actions and audits. We will review and compare the number of tax liens, tax levies, and audits in 2019 as compared to previous years.

June 29, 2020By: TaxCure Staff

The IRS released data recently on the Offer in Compromise (OIC) acceptance rate for 2019. The OIC acceptance rate decreased by 7.4% when compared to 2018. The dollar amount for all accepted OICs increased by 10.76% or about $28.1 million. That represents an average of $16, 177.86 per offer accepted.  The number of offers submitted decreased by 4,902 or 8.3% when compared to 2018. This could be due to a strong economy in 2019.

June 2, 2020By: TaxCure Staff

Paycheck Protection Program (PPP) loans provided a much-needed boost of working capital to businesses that were struggling amid the coronavirus. While the PPP loan helps cover payroll and utilities, these loans are forgivable, but from a federal tax perspective, they don’t work like other forgivable loans. Is your PPP loan taxable? Here is what you need to know.

May 28, 2019By: TaxCure Staff

The IRS released its 2018 version of the IRS Data Book, which provides a snapshot of all activities conducted by the agency during the previous fiscal year. It covers activities that the IRS conducted between October 1, 2017, and September 30, 2018. It includes tax returns, appeals, exams, audits, levies, liens, and other tax-enforcement activities. The IRS generally releases its Data Book for the previous fiscal year in mid-May, providing additional insights into the agency’s activities over the previous months. Take a look at how the numbers have changed between 2017 and 2018.

May 12, 2017By: TaxCure Staff

So how did tax season go for you this year? Did you get them all done by February 1 and spend your refund by February 2? Or did you lose track of time and barely beat the April 18 deadline to file? Perhaps you missed the deadline entirely and ended up having to file for an IRS extension. If you find yourself in this category, what’s your plan now? Have you already submitted, or are they still on hold while you say to yourself: “What’s the rush? I have till October.” Before you go waiting till the last minute again, which is likely how you got into this situation in the first place, you should think again. In other words, don’t wait to file your return even if you did get an extension.

April 1, 2015By: TaxCure Staff

During tax time, it’s common to see advertisements claiming that you can get your tax refund “early,” or even walk out of a tax preparer's office with your refund in hand. Before you get too excited about this, understand that you are likely being offered a refund anticipation loan.