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IRS requests comments on expanding tax certainty and issue resolution programs for business taxpayers

Posted by: Zaher Fallahi

IR-2023-171, Sept. 15, 2023 WASHINGTON — The Internal Revenue Service is requesting comments from taxpayers and advisors about improving and expanding tax certainty and issue resolution options for business taxpayers. The IRS Strategic Operating Plan, under Initiative 2.4, highlights a commitment to enabling taxpayers to resolve potential compliance issues up front, through expanded pre-filing and tax certainty […]

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IRS: Beware of fake charities; check before donating

Posted by: Zaher Fallahi

                  IR-2023-196, Oct. 23, 2023  WASHINGTON —With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary of criminals soliciting donations and falsely posing as legitimate charities. When fake charities scam unsuspecting […]

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IRS announces withdrawal process for Employee Retention Credit claims; special initiative aimed at helping businesses concerned about an ineligible claim amid aggressive marketing, scams

Posted by: Zaher Fallahi

Source: IR-2023-193, Oct. 19, 2023 WASHINGTON — As part of a larger effort to protect small businesses and organizations from scams, the Internal Revenue Service today announced the details of a special withdrawal process to help those who filed an Employee Retention Credit (ERC) claim and are concerned about its accuracy. This new withdrawal option […]

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IRS uses AI to step up audits of large partnerships

Posted by: Zaher Fallahi

Source: IRS The Internal Revenue Service is leveraging artificial intelligence to detect tax evasion as it uses the extra funding from the Inflation Reduction Act to ramp up compliance efforts against large partnerships, corporations and high-income individuals as well as promoters of sophisticated tax-dodging schemes. Initially the agency will be pursuing 1,600 millionaires who owe […]

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IRS looks to hire 3,700 employees nationwide to help expand compliance for large corporations and complex partnerships; experienced accountants encouraged to apply for Revenue Agent positions

Posted by: Zaher Fallahi

Source: IRS    IR-2023-172, Sept. 15, 2023 WASHINGTON —As part of larger transformation work underway to make improvements, the Internal Revenue Service announced the opening of  more than 3,700 positions nationwide to help with expanded enforcement work focusing on complex partnerships and large corporations. These compliance positions will be open in more than 250 locations nationwide and […]

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IRS announces sweeping effort to restore fairness to tax system with Inflation Reduction Act funding; new compliance efforts focused on increasing scrutiny on high-income, partnerships, corporations and promoters abusing tax rules on the books

Posted by: Zaher Fallahi

Source: IRS Statements and Announcements Agency focus will shift attention to wealthy from working-class taxpayers; key changes coming to reduce burden on average taxpayers while using Artificial Intelligence and improved technology to identify sophisticated schemes to avoid taxes IR-2023-166, Sept. 8, 2023 WASHINGTON — Capitalizing on Inflation Reduction Act funding and following a top-to-bottom review […]

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September is National Preparedness Month; IRS reminds taxpayers to prepare for natural disasters

Posted by: Zaher Fallahi

Issue Number:    IR-2023-161 WASHINGTON — September is National Preparedness Month. With the peak of hurricane season just ahead, the Internal Revenue Service reminds taxpayers to develop an emergency preparedness plan or, if they already have one, to update it for 2023. Taxpayers can begin getting ready for a disaster with a preparedness plan that includes […]

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Form 8300 and Reporting Cash Payments of Over $10,000

Posted by: Zaher Fallahi

Issue Number:    IR-2023-157 Generally, if you’re in a trade or business and receive more than $10,000 in cash in a single transaction or in related transactions, you must file Form 8300. The Form 8300, Report of Cash Payments Over $10,000 in a Trade or Business, provides valuable information to the Internal Revenue Service and the […]

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Treasury and IRS issue proposed regulations on reporting by brokers for sales or exchanges of digital assets; new steps designed to end confusion, help taxpayers, aid high-income compliance work

Posted by: Zaher Fallahi

IR-2023-153, Aug. 25, 2023 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would require brokers to report sales and exchanges of digital assets by customers. The proposed regulations cover a range of digital asset issues where there have been questions, including defining brokers and requiring proceeds to be […]

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IRS: Builders of qualified new energy efficient homes might qualify for an expanded tax credit under Section 45L

Posted by: Zaher Fallahi

Source: IRS Issue Number:    IR-2023-142 WASHINGTON – The Internal Revenue Service reminds eligible contractors who build or substantially reconstruct qualified new energy efficient homes that they might qualify for a tax credit up to $5,000 per home. The actual amount of the credit depends on eligibility requirements such as the type of home, the home’s […]

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It's been an honor to know Zaher Fallahi, Esq for the past 49 years.He is one of kind in almost everything. His clients and friends are always his priority. In my long life, I have had the chance to be helped by many people. But ZaherFalahi is a distinguished personality that his professionalism helped me to succeed in life.And that's why I never hesitate to refer my family and friends for all their legal and financial matters to him.
I have had the pleasure of knowing attorney Zaher Fallahi for over 10 years in a professional capacity. Zaher is knowledgeable, diligent, capable and a conscientious attorney. Zaher has a strong reputation in his field - International Tax and Undisclosed Foreign Bank Accounts - and is a good person, in general. I highly recommend him for your legal needs.
Mr. Fallahi's expertise was critical in helping me navigate my complex tax matter, and helping me resolve it successfully. I am very happy to have worked with him. He was very knowledgeable and had excellent service.
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