Recent Articles & Tax Advice

8-16-hobby-web

When are Hobbies Business Expenses?

The Treasury Inspector General for Tax Administration released a report that chided the IRS for losing more than $70 million by not correctly identifying hobby activities on Schedule Cs. The report found that of a sample of 100 returns, 88 of them were businesses not engaged in for profit (hobby activities). Will this report impact you? Understand … [Read More...]

scamalert-web

IRS Warns of Latest Scam: Bogus Federal Student Tax

WASHINGTON — The Internal Revenue Service today issued a warning to taxpayers about bogus phone calls from IRS impersonators demanding payment for a non-existent tax, the “Federal Student Tax.” Even though the tax deadline has come and gone, scammers continue to use varied strategies to trick people, in this case students. In this newest twist, … [Read More...]

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