Author Archives: Wetenkamp

Supreme Court to Hear Case on IRS Summons Power

If the IRS, as part of a tax audit or examination, wants something from the taxpayer, they tend to ask nicely only once. Sometimes it is difficult to hand over the books and every last financial detail to the IRS.  … Continue reading

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Tax Day 2014

It’s April 15th — tax filing deadline day!  From where I sit, there are only a couple more hours left to file your federal income tax return.  Today I should be writing about (and you should be reading about) procrastination, … Continue reading

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Supermodel Gisele Blames IRS Audit on her Forbes List Ranking

Are you not making the millions you planned to make?  Is your face not occupying magazine covers? Is your name nowhere to be found on any Forbes lists?  Well, the silver lining is that you are not subject to any … Continue reading

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Koskinen’s Press Club Speech

The IRS Commissioner typically speaks at a National Press Club luncheon once a year.  It is the perfect venue to learn about the Commissioner, his vision, and everything at the top of his to-do list.  Here are a few things … Continue reading

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IRS Stays Away from Churches

Do you know the difference between a non-profit religious organization and a church?  Perhaps the biggest difference is their tax obligations.  While it is true that neither  is required to pay taxes, a pastor, televangelist, or broadcasting company that is … Continue reading

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1st Grade Tax Tips

This is usually the time of year when people start digging through their file, or shoe box as the case may be, in an effort to get started on their dreaded Form 1040.  If you wait until the eve of … Continue reading

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IRS Provides Guidance on Tax Treatment of Bitcoin

Its status has been up in the air for some time now, but today the IRS provided guidance on the tax treatment of online currency such as Bitcoin.  The official position is that virtual currency is not to be treated … Continue reading

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First-time Penalty Abatement in California

What kills people when they have an IRS tax debt is the interest and penalties.  If you don’t file and pay your taxes when they become due, you can eventually find yourself owing much more than the original tax assessment.  … Continue reading

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IRS Employee Breaks Protocol and it’s Still Considered News

Today the IRS released a statement addressing a situation involving improper use of confidential information by an IRS employee.  One rogue employee took home an unencrypted flash drive containing “employee-related information” that dates back to 2007.  Typically this type of … Continue reading

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TAP Now Accepting Volunteer Applications

Do you live in Alaska and have a spare 200 to 300 hours per year to donate to a good cause?  You may want to think about volunteering as a member of the Taxpayer Advocacy Panel (TAP). TAP is “a … Continue reading

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