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How the IRS Distinguishes Between a Business and a Hobby

Many of us engage in activities for recreation, but not all of us can earn from it. If you’ve recently started to make money from a hobby, it may be time to register your activities as a business officially. You…

November 05, 2021

How Can Bankruptcy Deal With My Tax Liability?

We’ve all been there – or at least most of us have; running a semi-successful business, going through a divorce or a huge life change of some sort, struggling with an endless stream of expenses that never seem to end and –…

November 03, 2021

Top 4 Prominent Individuals Who Have Tangled With The IRS

Well, they may be glamorous people we all hope to become, but – to both ours and their disappointment – they are just people, flaws and all. And, honestly, we could live with the fact our favorite public figures do…

November 01, 2021

When Hollywood goes to JAIL

Well, now DMX (aka rapper Earl Simmons) is yet another High Profile Hollywood that is in the hot-seat from the IRS for tax fraud. He is in the ranks of many other high profile cases that either went to jail…

October 30, 2021

Cash On Hand gets man Jail Time

Last week a business man in Getzville, NY was sentenced to probation and fined for filing false tax returns. He ran a medical transportation company and a taxi service for several years. From 2007 through 2010 he did not deposit…

October 28, 2021

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