Taxes and Tax Relief
What These Two Cases Could Tell Us About the Future of Section 280E and Cannabis Taxation
The cannabis industry continues to change rapidly throughout the United States. Many states, including Washington State and Colorado, have legalized marijuana for both recreational and medicinal purposes. Other states have legalized marijuana strictly for medicinal purposes but may permit recreational use in the future. Because the recreational cannabis industry is relatively new, the industry still […]
Basic Tax Treatment of Cryptocurrency in IRS Notice 2014-21
Cryptocurrency is Classified as Intangible Personal Property The tax issues of cryptocurrency have been very prominent in the media lately. Slowly but surely, the IRS is catching up with the cryptocurrency world and is beginning to nail down the finer points of cryptocurrency taxation. These days, there are lots of people who have cryptocurrency holdings […]
The IRS sent me certified mail to seize my property – now what?
Last Updated: February 24, 2022 As we saw in our previous post, the IRS is willing to make a deal when it comes to collecting its debts. The IRS gives taxpayers multiple ways to take care of their tax debt and rebuild their financial lives. Unfortunately, not every taxpayer takes the initiative to contact the IRS and […]
How much will the IRS settle for? Key facts about IRS Settlements and Offers in Compromise
If you find yourself grappling with a tax deficiency at the end of a given tax year, the first thing you should do is avoid panicking. You have options to choose from to deal with this problem. The IRS is serious when it comes to collecting its debts, but they are willing to make a deal if […]
What the Government Shutdown Means for Taxpayers with IRS Debt
Do you hear what I hear? It’s not the sound of Santa’s sleigh or sweet carolers singing. Instead, this holiday season has ushered in the year’s third government shutdown and, as the saying goes, all through the House, not a creature was stirring, not even a mouse. Since the IRS is a bureau of the […]
Can the IRS Take My Passport if I Owe Taxes?
The FAST Act If you or a loved one are among the hundreds of thousands of American taxpayers deemed to owe “seriously delinquent” tax debt, it is important to be conscious of the risks you are facing. Due to the Fixing America’s Surface Transportation (FAST) act, your passport may now be revoked if you’re liable […]
“I’d run into a burning building, but I couldn’t bring myself to open mail from the IRS”
I spoke to a prospective client today that’s a firefighter in California. He told me his story about getting mail from the IRS and it stuck with me all day. I always knew how difficult it could be to deal with IRS debt, but it was the way this firefighter put it so succinctly – […]
IRS Scams on the Rise: What Taxpayers Need to Know
Americans lose billions of dollars each year to fraud, and more recently, these scammers have moved into the taxpayer’s arena. Fraudsters impersonating IRS officials have become a common problem in the United States causing havoc at the federal level by stealing refunds from unsuspecting victims. These scams may come in the form of a phone […]
How Boxelder Consulting Will Help You Prevent and Remove a Tax Lien
Taxpayers with unpaid taxes frequently have federal tax liens filed against them. This is the Internal Revenue Service’s means of ensuring taxpayers keep up to date with their obligations. Federal tax liens are filed with the county government relevant to the area where the taxpayer lives or has registered a business. The official purpose of […]