Monthly Archives: June 2021

35,300,000

Posted on June 30, 2021 by Russ

This morning, The National Taxpayer Advocate issued her semi-annual report to Congress.  In the report is the true state of tax returns at the IRS.  Fair warning, it’s not a pretty picture. As of the close of the filing season … Continue reading →

Posted in IRS | Tagged | Comments Off on 35,300,000

Here We Go Again: Bias in the IRS’s Tax Exempt Group

Posted on June 20, 2021 by Russ

Most of us remember the IRS scandal from 2013.  In that scandal we learned that the IRS and/or individuals working at the IRS deliberately targeted conservative tax exempt (nonprofit) organizations.  It was a huge scandal at the time, and it … Continue reading →

Posted in IRS | Tagged | Comments Off on Here We Go Again: Bias in the IRS’s Tax Exempt Group

§1031 Exchanges for Cryptocurrency: The IRS Thinks Not

Posted on June 19, 2021 by Russ

Back in September 2017 I wrote a piece titled, “Can You Use a §1031 Exchange to Defer Gain with Cryptocurrency?”  The conclusion I drew was, “[M]ost exchanges of one cryptocurrency for another do not qualify as §1031 exchanges and it’s … Continue reading →

Posted in Cryptocurrencies, IRS | Comments Off on §1031 Exchanges for Cryptocurrency: The IRS Thinks Not

“I Haven’t Received My IRS Refund. Can You Help Me?”

Posted on June 18, 2021 by Russ

This past week I fielded a number of phone calls asking this question.  Unfortunately, the answer is no.  Neither I nor any other tax professional can speed up your IRS refund. First, the good news: about 90% of IRS refunds … Continue reading →

Posted in IRS | Tagged | Comments Off on “I Haven’t Received My IRS Refund. Can You Help Me?”

The 2021 Tax Season (Part 1)

Posted on June 14, 2021 by Russ

I’ve had good Tax Seasons and bad Tax Seasons, but the first part of the 2021 Tax Season was unique.  And uniqueness doesn’t mean good nor does it mean bad.  Both points were present this year, and continue to be … Continue reading →

Posted in IRS, Tax Preparation | Tagged | Comments Off on The 2021 Tax Season (Part 1)