Making Tax Enforcement Great Again Under the Trump Administration

As of the date of this article, no one knows anything on the future of tax enforcement; likely, not even the President himself.  Actually, there is one relative certainty: the IRS will stop examining the President’s individual tax returns.  Attempting to forecast other enforcement (or lack thereof) is likely an exercise in futility. Many others…

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How to Avoid a Tax Audit

Despite the odds being greatly in their favor, many American taxpayers remain in real fear of an audit. The inconvenience and stress of having your tax returns closely scrutinized by the IRS is something everyone wishes to avoid, and to aid in that effort, the professionals at Rosenberg Martin Greenberg offer a series of handy tips to…

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Year-Round Strategies Lay Groundwork For Annual Taxes

Annual tax filings are like the class final exam– most only happen once a year but you can improve your score by studying throughout the year. Use these year-round tax considerations to lay the groundwork for your taxes before tax season sneaks up again and contact a Maryland tax lawyer for more personalized recommendations to plan for your…

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Winning an IRS Audit

If you are selected for an IRS exam, you likely do not feel like a winner.  In fact, you have at least some bad luck or karma to be selected in the first place.  But, if you are selected, what can be considered a win against the IRS?  The answer is: it all depends on where…

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Tax Return Filing Deadline Extended in 2016 (But Still Better to File on Time)

April 15 has been ingrained in the minds of Americans as the date their tax returns must be filed. However, individual income tax returns have received extensions to that date for this year. Also, a handful of additional deadlines apply to filings other than individual income tax returns. Even with the filing deadline extension and staggered…

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Avoiding Common Tax Return Mistakes

Stress and anxiety often accompany tax filing season. Despite your best efforts, achieving accuracy when it comes to tallying all forms of income, available credits and allowable deductions can be a real challenge. In this busy tax season, it is worthwhile to pay attention to some of the more common errors made on tax filings in…

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IRS Announces Early Interaction Initiative: How Will It Affect My Business?

On December 8, 2015, the Internal Revenue Service (IRS) announced a new initiative (IR-2015-136) aimed at helping identify employers who are falling behind on payroll and employment taxes and to “help them get caught up” on their responsibilities. Regarding the Initiative, the IRS states that: The initiative is designed to help employers stay in compliance…

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When is your fantasy taxable?

When you win playing daily fantasy sports (“DFS”), such as in Draft Kings or Fan Duel. A basic rule of tax law is all sources of income are taxable unless there is an exemption. There are no exemptions for winnings from DFS. Defying logic, DFS is considered a “game of skill” and not gambling under…

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