U.S. Department of the Treasury, IRS announce $1.3 billion recovered from high-income, high-wealth individuals under Inflation Reduction Act initiatives 

The IRS in February 2024 launched an initiative to pursue 125,000 high-income, high-wealth taxpayers who have not filed taxes since 2017. These are cases where IRS has received third party information—such as through Forms W-2 and 1099s—indicating these people received income between $400,000 and $1 million or more than $1 million, but failed to file a tax return. Prior to the Inflation Reduction Act, the IRS non-filer program ran sporadically since 2016 due to severe budget and staff limitations that did not allow these cases to be pursued. With new Inflation Reduction Act funding, the IRS now has the capacity to do this core tax administration work.

$172 million recovered from 21,000 wealthy taxpayers who have not filed tax returns since 2017 in first six months of new initiative 

If you want to make sure that you are legally keeping more of your hard earned money call the Law Office of Camron Hoorfar 816-944-0251.

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CFPB Takes Action Against Arbitration Platform Ejudicate for Deceiving Student Borrowers

This week, the CFPB banned private dispute resolution platform Ejudicate form arbitrating disputes about consumer financial products after the company misled student borrowers about its neutrality and initiated sham arbitration proceedings.

If you have any questions about student loans call the Law Office of Camron Hoorfar 816-944-0251.

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No expert found! 

On a claim of ineffective assistance of counsel, the movant had to show prejudice from counsel’s inadequate performance. Showing inadequate performance in failing to secure an expert required showing that an expert was available. The record showed that the trial counsel tried to, but could not, find an expert to support the movant’s theory of serotonin or medication intoxication as the cause of “numerous crimes arising out of sexual assaults of a minor.” The Missouri Court of Appeals affirmed the denial of relief.
CHESTER WILLIAM FEWINS, Appellant v. STATE OF MISSOURI, Respondent

When you need the best representation call the Law Office of Camron Hoorfar, 816-944-0251!

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Taser was a dangerous instrument 

A felony assault in the first degree required knowing, substantial step toward a substantial risk of death or protracted loss or impairment of the body. The defendant’s conduct raised a presumption that the defendant intended the natural and probable consequences. The state showed that a taser can be lethal, especially when used without training, so a jury could find that a taser was a dangerous instrument. The defendant used the taser to cause the victim to lose control of the victim’s upper body in the course of attempting to escape custody. The victim was a corrections employee. The circuit court did not err in convicting the defendant of first-degree assault on a special victim and armed criminal action. STATE OF MISSOURI, Plaintiff-Respondent vs. MICHAEL RAY DURISON, Defendant-Appellant 

If you feel you have been wrongfully convicted of a crime, call us today 816-944-0251!

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Impeachment Evidence would not have made a difference…

On a claim for ineffective assistance of counsel, the movant needed to demonstrate that the counsel’s poor performance affected the outcome of the criminal trial, which involved deliberation. The movant claimed that counsel could have challenged this element by presenting evidence of a mental defect that compelled the movant to shoot a police officer, but this evidence was too vague and did not provide a reasonable likelihood of a different verdict given the strong evidence of guilt.

If you have been accused of a crime make sure you have the right attorney on your side, call the Law Office of Camron Hoorfar 816-944-0251.

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ATTENTION: Taxpayers who filed for an extension!!!

Most taxpayers who requested an extension to file their 2023 Federal tax return MUST do so by October 15, 2024 to avoid a late filing penalty! Remember that an extension to file is NOT an extension to pay! If your tax preparer did not tell you that, save yourself the headache and have The Law Office of Camron Hoorfar file your 2024 tax returns! Give us a call at (816) 944-0251, we are here to help you with all of your federal and state tax needs!

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KC Tax Preparer Sentenced for Wire Fraud, False Tax Returns

A Kansas City, Mo., tax preparer has been sentenced in federal court a nearly $1 million wire fraud scheme in which he filed federal income tax returns for his clients that contained false information.

Louis-Loradin, was sentenced to 20 months in federal prison without parole. The court also ordered him to pay more than $700,000 in restitution.

If you need help with your sticky tax situations, call The Law Office of Camron Hoorfar (816) 944-0281

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Law Office of Camron Hoorfar Says Farewell After Fourteen Years in Business

On September 1, 2022, the Law Office of Camron Hoorfar, P.C. will be the Law Office of Tyler Gibson, P.C.  After fourteen (14) years in business, attorney Camron Hoorfar has sold a portion of his practice to attorney Tyler Gibson.  Attorney Tyler Gibson previously worked for the Law Office of Camron Hoorfar, P.C. for over six (6) years before opening his own law office.  On September 1, 2022, the Law Office of Camron Hoorfar, P.C. will no longer be assisting clients.  Moving forward, the Law Office of Tyler Gibson, P.C. will be able to assist you with your legal needs.  Attorney Tyler Gibson and his team will continue to provide the same great service that you previously received.

Camron would like to thank you for your continued loyalty and patronage over the years.  Camron has greatly valued the relationships that have been built over the past fourteen (14) years.  The Law Office of Camron Hoorfar, P.C. could not have been successful without your support. 

If you would like to contact Tyler, you may call him at 816-524-4949 or email him at Tyler@tgibsonlaw.com.  If you need to contact Camron, you may email him at Choorfar@Hoorfarlaw.com.

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Pandemic Did Not Support Impossibility Defense 

In an action for breach of contract, on a motion for summary judgment, defendant raised the affirmative defense that performance was impossible. That defense requires proof that defendant did “virtually” everything “within its powers to perform its duties under the contract.” The summary judgment record shows no such effort. “Defendants conflated performance pursuant to the Note (repayment of a loan) with running their business in order to repay the Note. The fact that it may have been impossible to operate a valet services business during the COVID-19 pandemic does not render it impossible to perform the terms of the Note.” Note and Guaranty provided attorney fees for enforcement, so the Court of Appeals remands the action to circuit court to determine the amount of the award. 
Premier Valet, LLC, Respondent, v. Premier Valet Services, LLC, and Brian Canavan, Appellants. 
(Overview Summary) 
Missouri Court of Appeals, Eastern District – ED110242

Need to speak with an attorney? Call our office at 816-524-4949 or click here to schedule a consultation.

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What you should know about crowdfunding and taxes

Crowdfunding is a popular way to raise money online. People often use crowdfunding to fundraise for a business, for charity, or for gifts. It’s important to know that money raised through crowdfunding may be taxable.

Some money raised through crowdfunding may be considered a gift.
Under federal tax law, gross income includes all income from any source, unless it’s excluded from gross income by law. In most cases, gifts aren’t included in the gross income of the person receiving the gift. Here’s what people involved in crowdfunding should know:

  • If a crowdfunding organizer is raising money on behalf of others, the money may not be included in the organizer’s gross income, as long as the organizer gives the money to the person for whom they organized the crowdfunding campaign.
  • If people donate to a crowdfunding campaign out of generosity and without expecting anything in return, the donations are gifts. Therefore, they will not be included in the gross income of the person for whom the campaign was organized.
  • However, not all contributions to crowdfunding campaigns are gifts and may be taxable.
  • When employers give to crowdfunding campaigns for an employee, those contributions are generally included in the employee’s gross income.

Taxpayers may want to consult a trusted tax pro for information and advice regarding how to treat amounts received from crowdfunding campaigns.

People may receive Form 1099-K for money raised through crowdfunding.
The crowdfunding website or its payment processor must file Form 1099-K, Payment Card and Third Party Network Transactions with the IRS if:

  • The amount raised is more than $600
  • Contributors to the crowdfunding campaign receive goods or services for their contributions.

If a Form 1099-K is filed, the crowdfunding organizer or the beneficiary of the fundraiser will receive a copy, depending on who received the funding directly from the crowdfunding website.

Receiving a Form 1099-K doesn’t automatically mean the amount shown is taxable. However, if the taxpayer doesn’t include the distributions from the form on their tax return, the IRS may contact the recipient for more information. The recipient may need to explain why the crowdfunding distributions weren’t reported.

Recordkeeping for money raised through crowdfunding.
People who run crowdfunding campaigns or receive money from one should keep careful records about the campaign and the disposition of funds for at least three years.

Need tax help? Call our office at 816-524-4949 or click here to schedule a consultation.

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