Articles Posted in Tax Advice

When you receive a letter from the IRS, it’s tempting to ignore it, especially if you already know you owe back taxes. But inaction can lead to escalating consequences: wage garnishments, bank levies, liens, and substitute returns that inflate what you owe. A tax debt attorney can help you stop collections before they begin and…

Receiving an IRS notice or discovering unresolved tax liabilities can be a serious and stressful experience. Mishandling these issues can result in significant penalties, enforcement actions, or further legal exposure. Timely, strategic legal guidance is critical to protecting your interests. At Kugelman Law, we assist individuals and businesses to navigate IRS audits, tax disputes, and…

Is Your Business Eligible for the ERC Voluntary Disclosure Program? If your business claimed the Employee Retention Credit (ERC) during the COVID-19 pandemic, recent IRS actions may affect you. The IRS has introduced a voluntary disclosure program that allows businesses to correct erroneous ERC claims without facing severe penalties. If your business is uncertain about…

You Have a Right To Appeal in U.S. Tax Court The IRS has recently resumed the issuance of LT 11 notices, which is a notice of intent to levy because of unpaid taxes, after a pause during the COVID pandemic. An LT 11 notice is the IRS signaling to the taxpayer that it intends to…

Expert Advice from Kugelman Law Tax season can often be a daunting time for many individuals and businesses. The complexities of tax laws combined with the pressure of meeting deadlines can lead to heightened stress levels. However, with proper preparation and guidance, navigating tax season can be a breeze. As experts in tax and crypto…

What Are The Steps in an IRS Tax Audit? Taxpayers facing a tax audit are confronted with the first step in a stressful journey through examination, appeals, and possibly litigation. Our team of IRS and U.S. Tax Court attorneys guides clients through the administrative process for an efficient resolution. The IRS starts an audit or…

First Conclusive Indication Regarding Altcoin Trades Cryptocurrency traders often ask whether an altcoin trade, exchanging one cryptocurrency for another (e.g., bitcoin for ripple), is a taxable event. For practical and financial reasons, many cryptocurrency traders hoped that it was not. And many taxpayers that conceded altcoin trades were taxable, argued that like-kind exchange rules under…

Did you recently receive Letter 6174-A from the IRS? If you are a crypto holder who has received IRS Letter 6174-A, then this is what you should about it and the questions you should be asking. Is this the IRS acting on Coinbase summons information? It is a reasonable assumption, but the notice does not…

How To Stay in Crypto Tax Compliance Cryptocurrency accounting presents a unique challenge for U.S. taxpayers who must deal with incomplete records, unique documentation standards, and limited IRS direction. Cryptocurrency tax attorney Alexander Kugelman joined the Crypto Craze TV show to explain why compliance with crypto tax laws is so difficult and what can be…

Crypto Tax Podcast Cryptocurrency tax attorney Alex Kugelman appeared on the BitcoinTaxes Podcast with Salvatore Vescio to discuss the purpose behind IRS Letters 6173, 6174, and 6174-A and what they mean for crypto users and traders. Listen to the full podcast here! We Can Help with Your Cryptocurrency Tax Compliance Kugelman Law is a tax…