Former President Donald Trump could owe more than $100 million in taxes as a result of a yearslong Internal Revenue Service inquiry into claims of huge losses on his Chicago skyscraper, The New York Times and ProPublica reported Saturday. The news organizations reported Trump claimed massive financial losses twice — first on his 2008 tax
Some tax professionals are bracing for more crypto scrutiny as the IRS beefs up digital asset service, reporting, compliance and enforcement programs. Experts cover how to answer the “digital assets” question on your return, calculate crypto taxes and handle reporting. When you trade digital currency or sell it at a profit, it may be subject
J.D. Sulolit “Raj” Mukherjee, JD The Internal Revenue Service has tapped Sulolit “Raj” Mukherjee, J.D., one of the crypto industry’s foremost experts on tax policy, to advise its digital assets efforts. In a press release today, IRS Commissioner Danny Werfel said, “This is a complex and evolving sector that has major tax administration implications. It’s
The Pine Mountain Lake Association has agreed to settle a lawsuit brought against it on behalf of the United States government alleging that it improperly applied for and received more than $1.6 million in COVID-19 relief funds for which it was not eligible. An official letter sent out by the PMLA Board of Directors dated