Tax evasion is a potential criminal charge. Tax avoidance is perfectly acceptable. 26 U.S.C. § 7201 defines what is tax evasion. It states in relevant part that any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall,…
Attorney General Merrick Garland made recent comments about what he considered to be the Department of Justice’s top priorities for 2022. Since taking office in March 2021, Garland has tried to combat crime in a tumultuous time. He has been criticized for his handling of January 6 investigation and has stated…
The IRS has just announced that Operation Hidden Treasure will seek to find taxpayers with unreported income from currency transactions. Did you notice the new question on page 1 of the Tax Form 1040? It states, “At any time during 2020 did you receive any financial interest in virtual currency?”…