Category Archives: IRS News

Social Security Wage Base Increases in 2019

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IRS Announces 2018 Retirement Plan Contribution Limits

On October 19th the Internal Revenue Service (IRS) announced IRS 2018 Adjusted Retirement plan contribution limits...

Your chances of getting audited lowest in a decade

The idea of getting audited can cause panic and anxiety for most of us. The...

Partner Corner: Ed Lieber Discusses Tax Fraud Schemes

New scams are popping up every day. The Internal Revenue Service (IRS) has issued an...

Important Ages on the Road to Retirement

To make the most of your retirement benefits, including 401(k)’s, individual retirement accounts, Social Security...

Hiding Money or Income Offshore During the 2016 Filing Season

The Internal Revenue Service wrapped up its annual “Dirty Dozen” list of tax scams earlier...

Beware of phone scams during the 2016 filing season

With the 2016 income tax filing season in full swing, the Internal Revenue Service has...

Year End Tax Planning Moves for Businesses & Business Owners

It seems every year Congress waits until the last moment to enact extensions on tax...

The Cost of Late-Filed Information Returns Increases

The Trade Preferences Extension Act, put in place June 29, 2015, significantly increases penalties for...

IRS Application Data Breach By Cyber Thieves Compromises Over 100,000 Taxpayer Accounts

On May 27, the Internal Revenue Service revealed a massive IRS application data breach of...

Will the New IRS Repair Regulations Affect Your Business

The Internal Revenue Service has finally issued regulations clarifying when costs related to fixed assets...

The New IRS Repair Regulations and How They Affect Your 2014 Tax Return

The IRS has issued final, comprehensive “repair regulations” that affect both real and personal property...

Even Past The Treasury Department Filing Deadline, LSL CPAs Can Help With Annual Reporting Of Foreign Bank And Financial Accounts – FBAR

Despite the passing of the June 30th filing deadline, the international tax experts at LSL...

CAR Survey Reveals A Rise In Foreign Real Estate Investment In California, Resulting In Potential IRS Tax Issues And Problems

As foreign buyers make up a quarter of the people buying and selling real estate...

If Only 25% Of A Company Is Under Foreign Ownership, IRS Form 5472 Must Be Filed With Full Disclosure

CPAs without international tax experience too often overlook IRS Form 5472, leading directly to problems...