Karla L Justice CPA, PC

IRS Warns Taxpayers About Crypto ‘Pig Butchering’ Scams IRS Criminal Investigation special agents have seen an uptick in a specific type of scheme that couples cryptocurrency with romance.

2024 IRS Tax Brackets, Standard Deductions While the actual percentages will remain the same, the income levels of each bracket change annually to adjust to inflation.

Why a Wealth Tax Would Be Horrible for American Taxpayers An upcoming Supreme Court case about unrealized gains could decide the fate of a potential federal wealth tax.

IRS Rolls Out New Chatbot Feature for Certain CP Notices Chatbots will be used to help answer basic taxpayer questions about three notices in the CP series, the IRS said on Tuesday.

To protect taxpayers from scams, IRS orders immediate stop to new Employee Retention Credit processing amid surge of questionable claims; concerns from tax pros | Internal Revenue Service IR-2023-169, Sept. 14, 2023 — Amid rising concerns about a flood of improper Employee Retention Credit claims, the Internal Revenue Service today announced an immediate moratorium through at least the end of the year on processing new claims for the pandemic-era relief program to protect honest sm...

Tax Court Case Shows What TikTok Isn’t Telling Taxpayers About Business Expenses A recent Tax Court examined what taxpayers need to know about business expenses that they're not hearing on social media—including that they must be ordinary & necessary.

Wow, I didn’t realize that I had been a part of this field so long until they sent me a 20 year pin. I worked hard for this and enjoyed it so much. CFE - Certified Fraud Examiner from 2003.

These Eight States Won’t Tax Your Mega Millions Jackpot Winnings A $1.25 billion-dollar prize is up for grabs in the next Mega Millions drawing. Will your state tax your payout?

IRS Ends Unannounced Visits by Agents Effective immediately, unannounced visits will end except in a few unique circumstances and will be replaced with mailed letters to schedule meetings.

https://www.accountingtoday.com/news/irs-warns-of-new-scam-involving-unclaimed-

IRS warns of new scam involving unclaimed refunds The Internal Revenue Service is cautioning taxpayers to beware of a new scam in which fraudsters are sending out cardboard envelopes from a delivery service asking for personal info.

https://www.journalofaccountancy.com/news/2023/apr/werfel-irs-audit-individuals-under-400k-2018-rates.html

Werfel: IRS will audit individuals under $400K at 2018 rates The new IRS commissioner tells the Senate Finance Committee the rate will be taken from the 2018 data because that’s the most recent year for which the IRS has final audit numbers.

https://www.journalofaccountancy.com/issues/2023/apr/bank-deposits-analysis-upheld.html
A good reason to keep good records of deposits other than income:

Bank deposits analysis upheld The Tax Court rejects a taxpayer’s claim that the IRS’s reconstruction of his income included nontaxable proceeds from a real estate sale.

IRS Says State Issued Stimulus Payments are Not Taxable The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.