A company may understand the rationale for keeping good records regarding its payroll taxes. Under federal law, any withholdings from employee paychecks should be kept separate, and not spent on other company expenses, before they are submitted to the...
According to the IRS, a fine line may separate tax planning from tax evasion. To be fair, the type of planning we’re talking about isn’t just setting up a new filing system to document next year’s deductions. In the eyes of the IRS, tax planning might refer to tax...
In our last post, we discussed a lawsuit brought against the IRS by two former corporate executives, claiming that questionable IRS tactics had cost them their job. A federal court ruled that the IRS, as an agency, was immune from claims of alleged deceit toward the...
A recent federal court ruling in favor of the IRS should send a cautionary note to both individual and business taxpayers alike.Two former top executives at Sprint Corp. brought the case, seeking $159.4 million in damages against the IRS. The individuals had been...