The IRS’s updates to Form 14457, “Voluntary Disclosure Practice Preclearance and Application,” mark a significant tightening of the program’s requirements and an intensification of its focus on enforcement. These changes, including a new willfulness admission,
Yesterday the IRS announced transition relief for individuals and businesses receiving Form 1099-K, Payment Card and Third-Party Network Transactions, with new reporting thresholds for 2024 and 2025. This pertains to payments from Venmo, Paypal, Stripe
In a case that highlights the serious consequences of payroll tax fraud, two men from Camden, New Jersey, were indicted for conspiring to defraud the Internal Revenue Service (IRS) and allegations of concealing cash wages
Abdel Elgendy, a resident of Middlesex County, has earlier this year admitted to structuring over $250,000 in cash deposits to avoid federal reporting requirements. His guilty plea, entered before a U.S. District Judge, underscores the
