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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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IRS Rev. Ruling on Skating

Posted by: Zaher Fallahi

Issue Number:    rr-23-14 Inside This Issue The revenue ruling clarifies that this is also the case if a taxpayer stakes cryptocurrency through a cryptocurrency exchange and the taxpayer receives additional units of cryptocurrency as rewards as a result of the validation. Revenue Ruling 2023-14 will be published in Internal Revenue Bulleting 2023-33 on Aug. […]

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Beneficial Ownership Information Reporting FAQ

Posted by: Zaher Fallahi

Frequently Asked Questions FinCEN has prepared the following Frequently Asked Questions (FAQs) in response to inquiries received relating to the Beneficial Ownership Information Reporting Rule. These FAQs are explanatory only and do not supplement or modify any obligations imposed by statute or regulation. Please refer to the Beneficial Ownership Information Reporting Rule, available at www.fincen.gov/boi, for […]

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Beneficial Ownership Information Reporting

Posted by: Zaher Fallahi

A final rule implementing the beneficial ownership information reporting requirements of the Corporate Transparency Act (CTA) was issued in September 2022. These regulations go into effect on January 1, 2024. Beneficial ownership information will not be accepted prior to January 1, 2024. The Corporate Transparency Act (CTA) establishes uniform beneficial ownership information reporting requirements for […]

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IRS releases guidance on elective payments and transfers of certain credits under the Inflation Reduction Act

Posted by: Zaher Fallahi

 IR-2023-116, June 14, 2023 WASHINGTON — The Internal Revenue Service issued proposed regulations and frequently asked questions today describing rules for applicable entities that earn certain clean energy credits and choose to make an elective payment election and rules for eligible taxpayers that elect to transfer certain credits to unrelated parties. For tax years beginning after Dec. 31, 2022, applicable entities […]

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IRS offers tips on preparedness and how to protect personal information during natural disasters

Posted by: Zaher Fallahi

Source: IR-2023-100, May 10, 2023  WASHINGTON — In recognition of National Hurricane Preparedness Week and National Wildfire Awareness month, the Internal Revenue Service is reminding taxpayers to protect important tax and financial information as part of a complete emergency preparedness plan.  So far in 2023, the Federal Emergency Management Agency (FEMA) has declared disasters for […]

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IRS tools and resources to help small businesses

Posted by: Zaher Fallahi

IRS: Issue Number: Tax Tip 2023-60 Small businesses play an important role in the nation’s economy. During National Small Business Week, the IRS reminds taxpayers that IRS.gov has resources and tools to help small businesses understand and meet their tax responsibilities. Bookmark these important webpages End of IRS Publication Zaher Fallahi, Tax Controversy Defense Attorney, Tax CPA, assists […]

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Hobby or business: here’s what to know about that side hustle

Posted by: Zaher Fallahi

Source: IRS Issue Number:  Tax Tip 2023-61 Sometimes the line between having a hobby and running a business can be confusing, but knowing the difference is important because hobbies and businesses are treated differently when it’s time to file a tax return. The biggest difference between the two is that businesses operate to make a profit […]

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Unscrupulous tax preparers may tempt taxpayers into fraud

Posted by: Zaher Fallahi

Issue Number: Tax Tip 2023-57 Unscrupulous tax preparers and tax fraud promoters make big promises – and charge high fees – but taxpayers are legally responsible for what’s on their return. Taxpayers should use only reputable tax professionals and know what is on their tax return. Although scammers are most active during filing season, they operate year-round, […]

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Taxpayers and tax pros should learn about these common tax scams

Posted by: Zaher Fallahi

While scammers work hard during tax season to try to steal money, personal information and data, they also stay busy the rest of the year. Taxpayers and tax professionals should remain alert and aware of these common scams, schemes and cons to avoid losing money, personal information or client data. Social media: Fraudulent form filing […]

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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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