TaxEsqBlog -by Ronald J. Cappuccio, J.D., LL.M.(Tax)

This is a scam notice received by clients that looks legitimate. The scam artists have taken the IRS logo and make the letter look like it's really from the IRS. It is not! If you click on the link it asked all kinds of personal information so the scam artist can empty your bank accounts, file fraudulent tax returns and even get credit cards in your name! If you receive any notices from the IRS you need to immediately contact a tax lawyer. Do not click on any of the hyperlinks! This is very serious!!!!!! From:  IRS-gov.us   < usa1.tax-payers.rvs@wwt.net > Date: Fri, Feb 17, 2017 at 8:24 PM Subject: Your IRS Data Require Immediate Action To:  usa1.tax-payers.rvs@wwt.net Dear IRS User, This is an Important Message regarding your IRS Filing, from the previous year and current year.Our system indicates you have some changes in your record with us and We will like you to Kindly follow the given instructions in order to comply with our ne...

Freddie Mitchell Dropped The Ball and the IRS Catches him My daughter is an avid, ahem rabid, Eagles fan. At 5 ft, barely 2 inches, she can go head to head with the big guys and knows football inside and out. Me? I hate football. I don’t get why people love such violence. Its nasty and I don’t want my son playing it. But, as December 6 th approaches and Freddie Mitchell, former WR for the Philadelphia Eagles, a simply presented tax fraud case is anything but simple. After taking a plea deal and receiving 37 months in prison for playing a role in a tax fraud scam, Freddie Mitchell presented medical documentation stating he has CTE, chronic traumatic encephalopathy, a possible result of his 8 documented concussions. CTE can have symptoms of memory loss, motor skills impairment, depression, aggressive behavior and confusion.  As it is in the research stages, not everyone agrees that CTE can be properly diagnosed unless postmortem. Mitchell clearly states that he did not want...

Bitcoin transactions are Taxable Bitcoin has become the rage in the past few months by the so-called asset protection industry. There have been claims that this cryptocurrency cannot be detected by governments and transactions are not taxable. Not true!   Under the Internal Revenue Code, gross income means all income from whatever source. Trading Bitcoin currency for services or goods is clearly income for US Tax purposes. There is no argument. Just like bartering transactions, the question becomes "what is the value of the Bitcoin transferred?"  With Bitcoin, the answer is online . If you want to transact business in Bitcoin that is your option. But, the transactions must be included in gross income or you will be committing tax fraud that can be easily proved by the government. Anyone interested in tax planning and asset protection can get real results by consulting their tax lawyer. Ron Cappuccio www.TaxEsq.com