Federal Tax Updates Archive

Everything you need to know about HOAs and taxes

TweetShareSharePin0 Shares Homeowners’ associations (HOAs) are incredibly common throughout the United States. These organizations typically have bylaws by which residents of specific neighborhoods are required to abide.  While some people think only traditional suburban subdivisions have HOA rules, this isn’t necessarily true. In today’s world, even some urban districts are governed by homeowners’ associations, particularly

The top most overlooked tax deductions in America

TweetShareSharePin0 Shares Tax deductions can be complicated. Working with a good local CPA is the best way to feel confident that you’re keeping the most you can of your hard-earned money, but it’s still smart to be financially literate, too.  Here, we assess the top most overlooked tax deductions you should be taking when you

NYC Hospital Dietician Indicted For $250,000 Tax Fraud Scam

TweetShareSharePin0 Shares A New York City hospital dietician has been indicted for a $250,000 tax fraud scam on multiple charges, including filing false tax returns, obstructing the IRS, and willful failure to file tax returns. The United States Department of Justice Office of Public Affairs shared an official release regarding the situation, including the following

Man Sentenced to Prison After “Claiming Thousands of Dollars In Fraudulent Refunds”

TweetShareSharePin0 Shares An Illinois man has been sentenced to 29 months in prison after stealing numerous identities and “claiming thousands of dollars in fraudulent refunds” from the IRS. According to an official release from the Department of Justice, Wilmer Alexander Garcia Meza, of Waukegan, Illinois used numerous other individuals’ identifying personal details — such as names,

Donald Trump Officially Appeals IRS Tax Record Ruling

TweetShareSharePin0 Shares Former President Donald Trump has officially appealed a recent ruling that he must hand over his personal tax records to the IRS.  Earlier this month, the Washington DC Circuit Court of Appeals unanimously ruled that the United States House of Representatives can obtain Trump’s tax records from the Internal Revenue Service (IRS). At the time, CNN reported:

New Legislation Would Hit Assault Weapon Manufacturers With 20% Tax

TweetShareSharePin0 Shares Under new proposed federal legislation, assault weapon manufacturers would be hit with a 20% tax.  Following a three-month-long government investigation into the gun manufacturing industry after a rash of shooting incidents this year — including the now-infamous Uvalde, TX school shooting and a mall shooting incident in Greenwood, IN — House Oversight Committee Chairwoman

U.S. Congressman “Defied Property Tax Law” For Nearly a Decade

TweetShareSharePin0 Shares U.S. Congressman Vicente Gonzalez of Texas has “defied property tax law” for nearly a decade by claiming two homestead exemptions. 54-year-old Democrat Gonzalez represents Texas’s 15th District in the United States House of Representatives. He was first elected in 2017.  Now, it has come to light that the politician and his wife claimed two

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