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The IRS Is Growing - And You Can Take Advantage

For more than a year, I’ve had my eye on the Biden administration’s plans for the IRS. There were big things in the works that date back to early 2021. That March, the IRS commissioner sat down with the House Ways and Means Committee and asked for a budget increase — and key members wanted to give it to him. But the IRS only received $12.039 billion, a paltry 4.6% increase over FY 2020 ... CONTINUE READING

Significant Changes to the OIC Program

Effective Nov. 1, 2021, taxpayers will be allowed to keep their income tax refunds in the year their offer in compromise (OIC) is accepted and enables certain taxpayers to seek offset bypass refunds (OBR) mentioned below, while their OICs are pending ... CONTINUE READING

A Russian Billionaire's Daring Attempt to Escape the IRS

No one can escape the IRS — not even Russian-born billionaires. In the fall of 2021, entrepreneur Oleg Tinkov found that out the hard way. After years on the run, he pled guilty to filing a false tax return and agreed to pay the IRS over $500 million in back taxes, interest, and penalties ... CONTINUE READING

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