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Tag Archives: taxes
By law, all taxpayers have the right to finality of federal tax matters
Taxpayers have the right to know when the IRS has finished an audit. This is one of 10 basic rights, known collectively as the Taxpayer Bill of Rights. What is the Taxpayer Bill of Rights? If you need an attorney to … Continue reading
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Tagged Attorney, Down Town Lees Summit, IRS, Law Office of Camron Hoorfar, Lawyer, LOCH, taxes
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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 … Continue reading
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Tagged Attorney, Down Town Lees Summit, Law Office of Camron Hoorfar, LOCH, taxes, We Can Help
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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 … Continue reading
Retirement and Taxes: The Basics of IRAs
Individual Retirement Arrangements (IRAs) provide tax incentives for people to make investments that can provide financial security for their retirement. These can be set up with a bank, life insurance company, mutual fund, or stockbroker. What you should know: Contribution: … Continue reading
What You Should and Shouldn’t Do With Mail from the IRS
Take timely action. If you owe and you act quickly, you minimize additional interest and penalty charges. Review the information. If the notice is about a changed or corrected tax return, you should compare the information with the original tax … Continue reading
IRS continues adjustments to unemployment compensation, prepares another 1.5 million refunds
Last week, the Internal Revenue Service said that another 1.5 million taxpayers will be receiving refunds averaging more than $1,600. The IRS is adjusting unemployment compensation from previously filed income tax returns as a result of the American Rescue Plan … Continue reading
Former KU Med Center Administrator Charged With Embezzlement
A former administrator at the University of Kansas Medical Center faces criminal charges that he embezzled more than $500,000 from KU. A charging document filed in federal court accuses Michael Ahlers of diverting money from the KUMC Credit Union between … Continue reading
IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers
The Internal Revenue Service announced today that the deadline to register for an Economic Impact Payment (stimulus payment) is now Nov. 21, 2020. This new date will provide an additional five weeks beyond the original deadline. The IRS urges people … Continue reading
Six tips for people starting a new business
Understanding the tax responsibilities that come with starting a business venture can save taxpayers money and help set them up for success. IRS.gov has the resources and answers to help people through the process of starting a new business. Here … Continue reading
IRS reminds taxpayers of the home office deduction rules during Small Business Week
During Small Business Week, Sept. 22-24, the Internal Revenue Service wants individuals to consider taking the home office deduction if they qualify. The benefit may allow taxpayers working from home to deduct certain expenses on their tax return. The home … Continue reading