New Version of SSN Scam

The IRS has sent out a tip related to the latest twist in Social Security Numbers scams. Scammers claiming to be able to suspend or cancel the victim’s SSN is yet another attempt by con artists to frighten people into returning robocalls. (details below.) Scammers may mention overdue taxes or threaten to cancel your SSN. If you receive a call … Read More

Marci RomneyNew Version of SSN Scam

New Rules for Cryptocurrency Investors

In a new ruling, more guidance will be given to individuals on how to report income from their cryptocurrency. The guidance that has been released applies tax rules to cryptocurrency investments. Among these rules, taxpayers must track how much they bought in cryptocurrency so it can be determined how much tax is owed when they sell coins. They must also … Read More

Marci RomneyNew Rules for Cryptocurrency Investors

New Regulations for Airbnb Hosts

Airbnb and other similiar sites have become a popular way for real estate owners in tourist spots to make some extra cash by renting out their spaces. Many property owners could benefit if QBI made it possible for these side hustles to turn into businesses. This would result in property owners gaining a large tax deduction. To allow for these … Read More

Marci RomneyNew Regulations for Airbnb Hosts

5 Things you Should Know about the IRS

It can be hard to keep up with all the changes the IRS, so we will list some more things you should take note of. High-tax states are watching for snowbirds claiming dubious residency. Residency audits are used to examine the returns from part-year residents. To survive the residency audit be sure to keep crucial documents such as bank records, … Read More

Marci Romney5 Things you Should Know about the IRS

Basics of the Utah Probate Process

In this article we will discuss the Utah probate: what it is, who needs it, and the steps that you will need to take to make the process as simple as possible. But first, what is a probate? “Utah Probate is the court process of wrapping up the affairs of a person who has died, paying the debts, and transferring … Read More

Marci RomneyBasics of the Utah Probate Process

Learn about Important Changes to the IRS

As a result of the Taxpayer First Act some changes have been made to the IRS that may affect you. Some of these changes include: The IRS is prohibited from turning over tax debts of low-income individuals to private tax-debt collectors. However, taxpayers will get notice when a third party, such as a bank or employer, is contacted. Ideas to … Read More

Marci RomneyLearn about Important Changes to the IRS

How to Check Your Tax Witholding

With the new IRS Tax Witholding Estimator employees can ensure that their employers are witholding the correct amount from their paychecks. A “Paycheck Checkup” should be done every year to prevent an unexpected tax bill or penalty. To use the estimator you will need your most recent pay stubs and income tax return. Simply go to https://www.irs.gov/paycheck-checkup and hit “Use … Read More

Marci RomneyHow to Check Your Tax Witholding

Ingenious Scam Targets Taxpayers

Crooks have tried all sorts of e-mails scams, but almost everyone has figured out that the IRS does not send out notices by e-mail. So crooks have changed their tactics. Now, there are reports of taxpayers receiving by mail (or email) fake notices requiring immediate payment to a P.O. Box. The P.O. Boxes are located in cities where the IRS … Read More

Marci RomneyIngenious Scam Targets Taxpayers

IRS Sending Letters Based on Cryptocurrency

In 2017 the IRS won its fight with Coinbase, a cryptocurrency exchange, and recieved information on customers who traded cryptocurrency. On July 26th the IRS announced that they’re sending letters to individuals who may need to file or amend their returns to report cryptocurrency transactions. The IRS notice states: The Internal Revenue Service has begun sending letters to taxpayers with … Read More

Marci RomneyIRS Sending Letters Based on Cryptocurrency

Close to Home: Sandy, Utah Resident convicted of Tax Evasion

Former attorney and former IRS employee Craig P. Orrock has been convicted of tax evasion and obstructing internal revenue laws. According to court documents and evidence, starting in the early 1990s Orrock, currently of Sandy, Utah, evaded payment of federal income taxes and obstructed IRs efforts to collect those taxes. He filed federal individual income tax returns for the years … Read More

Marci RomneyClose to Home: Sandy, Utah Resident convicted of Tax Evasion