Anderson & Jahde

We are frequently asked about the tax consequences of receiving a judgment or settlement in a lawsuit.  Damages received as the result of a breach of contract or property damage have always been, and continue to be, taxable.  For personal injury actions, however, the tax consequences have changed quite a bit over the last 20 years. Prior to 1996, if someone received an award for personal injuries, other than punitive damages, all amounts received were not taxable and/or were excluded […]

You owe the IRS money.  You know you owe the IRS money.  You may have even set up an installment agreement with the IRS that you have been faithfully paying for a while.  But the next thing you know, your phone is blowing up, and your mailbox is overflowing with unsolicited ads from any number of the thousands of “tax resolution” or “tax relief” companies around the country. The messages take many forms.  Some seem to be nice and helpful

The IRS recently began sending letters to virtual currency owners, notifying them of potential failures to include, or correctly report, virtual currency transactions on their income tax returns.