Investors at every level are buying cryptocurrencies these days. There are several reasons you may have put some real dollars into cryptocurrencies. Maybe you are unsure of an overheated securities market, or you like the idea of removing money from traditional...
With lots of bills being signed during March, new tax changes will take effect in April 2021. This tax year will be different from what we have seen in the past and alter timelines like last year. Below are what you can expect when filing your 2020 taxes this year....
If a tax preparer files fraudulent tax returns for a taxpayer, the IRS holds the associated taxpayer responsible for the filing. The IRS may require the taxpayer to pay additional taxes, interest and be subject to penalties. However, this does not mean that the tax...
What are the streamlined foreign offshore procedures? They are a lot of U.S. residents and non-residents who are not aware that they are required to make tax returns for their offshore accounts. By the time they realize this, most of them are late. The Streamlined...
Did you know that you might be denied a passport application or your current passport revoked if you have seriously delinquent tax debt? With the current law, the Internal Revenue Service (IRS) has the authority to certify any delinquent tax debt to the State...
In the wake of the COVID-19 pandemic, state and federal offices remain short-staffed. The Coronavirus pandemic has impacted nearly every aspect of our lives. This year, tax time is no different. Per the Massachusetts Department of Revenue (DOR) website, the...
When getting ready to file your taxes, you may decide to file on your own, or you may choose to enlist the help of a professional tax preparer. While it is certainly possible to file by yourself, a tax professional can provide several added benefits. A simple...
An offshore account is an account with a financial institution that is based in a different county than your country of residence. Thanks to online banking, people are finding it easier to maintain foreign banking accounts. According to the U.S State Department, more...
Citizens are under a compulsory obligation to pay their taxes when they fall due. Failure to pay taxes is an act that is taken seriously by the Department of Revenue. However, even upon paying taxes, it is possible that the DOR will feel that the taxes paid to them...
Tax debt can have consequences that affect a person's livelihood. In fact, the Internal Revenue Service could even begin taking money directly from the paychecks of a taxpayer who owes a balance and has not paid. This can be distressing for any Massachusetts...
