Ericka, Arrue

Beware of Abusive Tax Avoidance Schemes

These schemes can take many shapes, ranging from abusive deals involving syndicated conservation easements and micro-captive insurance arrangements. They can also involve an international component, such as hiding cash and digital assets offshore or using Maltese foreign individual retirement accounts or foreign captive insurance.

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IRS Warns Impersonation Telephone Scams

A sophisticated phone scam targeting taxpayers, including recent immigrants, has been making the rounds throughout the country. Callers claim to be IRS employees, using fake names and bogus IRS identification badge numbers. They may know a lot about their targets, and they usually alter the caller ID to make it look like the IRS is calling.

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IRS: Sept. 15 is The Deadline for Third Quarter Estimated Tax Payments

The Internal Revenue Service reminds taxpayers who pay estimated taxes that the deadline to submit their third quarter payment is September 15, 2022. Mark on your calendar this tax deadline for: -Sept. 15, 2022: Final deadline to file partnership and S-corporation tax returns for tax year 2021, if an extension was requested (Forms 1065 and 1120-S). -Sept. 15, 2022: Deadline for third-quarter estimated tax payments for the 2021 tax year.

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