The IRS has the ability to pursue you for back taxes, and they can assess penalties and interest. Beyond that, the IRS has the ability to conduct its own criminal investigation. Depending on the results, the IRS may refer you…
Payroll taxes are treated differently from other types of business debts. In other cases, the business owner is generally not held personally liable for the debts of their business, provided that they have chosen the proper form of incorporation. However,…
Since cryptocurrencies are still relatively new, the rules that govern tax reporting of your transactions and gains or losses are in flux. Nevertheless, you must comply with all of the current rules, as you are tasked with understanding regulations before…