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On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in IRS on Tuesday, October 29, 2019.

The Tax Cuts and Jobs Act was signed into law in December 2017. One of the more notable things the law changed was the increase to the standard deduction, which made it unnecessary for most people to itemize their deductions. It also increased the child tax credit and lowered some tax rates.

Continue reading IRS: Tax law change meant about 2.7 million fewer 2018 refunds ...

Tags: IRS , Tax Cuts and Jobs Act , research & statistics , tax law

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Back Taxes or Tax Debt on Friday, October 25, 2019.

As we've discussed on this blog before, the IRS's enforcement budget has been slashed by a quarter since 2011. That has meant fewer audits and collection activities overall, and it has focused those efforts on working people more than on the wealthy. In 2017, Congress directed the IRS to allow private collection agencies (PCAs) to collect unpaid taxes.

Continue reading IRS will now accept debit card payments through private collectors ...

Tags: Back Taxes or Tax Debt , IRS collections , electronic payments , installment agreements

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in IRS on Monday, October 21, 2019.

Many investors in Bitcoin and other virtual currencies have been confused about how those investments are taxed. As we've noted before on this blog, cryptocurrency gains are taxed like capital gains. That means that you'll need to keep detailed records on what you paid and what you got when you sold the virtual currency. You will be taxed based on the difference.

Continue reading IRS provides guidance on reporting cryptocurrency income ...

Tags: IRS , capital gains tax , cryptocurrency

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Audits on Friday, October 11, 2019.

In April, the nonprofit newsroom ProPublica reported on a surprising imbalance at the IRS. Although it would almost certainly be both more effective and bring in more revenue if it focused on auditing the rich, the agency does not do this. No, it audits the working poor at almost the exact same rate as it does the richest 1% of Americans.

Continue reading IRS admits it audits the poor just as often as the rich ...

Tags: Audits , IRS , IRS audit

On behalf of Mark Pridgeon of Mark A. Pridgeon, Attorney at Law posted in Tax Controversy on Monday, October 7, 2019.

In 2018, the U.S. Supreme Court ruled in South Dakota v. Wayfair, Inc., Overstock.com, Inc., and Newegg, Inc. that states can require out-of-state sellers and so-called "marketplace facilitators" to collect sales tax on their behalf. Previously, the rule had been that a seller or facilitator had to have a physical presence in the state before it could be required to collect that state's taxes.

Continue reading Minnesota updates its sales tax rules for out-of-state sellers ...

Tags: Minnesota , Tax Controversy , sales tax

Audits (64)

Back Taxes or Tax Debt (78)

Delinquency (23)

IRS (137)

Tax Controversy (80)

Tax Liens (10)

December 2019 (2)

November 2019 (4)

October 2019 (5)

September 2019 (5)

August 2019 (4)

July 2019 (4)

June 2019 (4)

May 2019 (5)

April 2019 (6)

March 2019 (3)

February 2019 (3)

January 2019 (5)

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Pridgeon & Zoss, PLLC 7301 Ohms Lane, Suite 420 Edina , MN 55439 Phone: 952-232-0371 Toll Free: 877-221-1651 Fax: 952-835-0201 Edina Law Office Map

Pridgeon & Zoss, PLLC, provides legal counsel for clients in Hennepin County, Ramsey County, Dakota County and Washington County, Minnesota, including Twin Cities area communities such as Minneapolis, St. Paul, Bloomington, Brooklyn Park, Burnsville, Eagan, Edina, Minnetonka, Richfield, St. Louis Park, Wayzata, White Bear Lake, Eden Prairie, Woodbury, Golden Valley, Maplewood, Roseville, Mendota Heights and Plymouth. The firm also serves clients in St. Croix County, Wisconsin, including communities such as Hudson and Menomonie.