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August 2017 Archives

IRS to crack down on unreported employment tax

The United States Treasury Inspector General for Tax Administration (TIGTA) recently released a report finding “billions of dollars of employment taxes are uncollected.” As a result, the Internal Revenue Service (IRS) is focusing in on businesses that have allegedly unreported and underreported their employment taxes. 

Win big at the casino in MN? Don’t forget about Uncle Sam’s cut.

Winning big at a casino is cause to celebrate. But, before celebrations get too out of hand, be sure to keep in mind that a chunk of those winnings will go to Uncle Sam. A failure to pay these taxes can result in an audit, which could lead to penalties and fees that may exceed the winnings. 

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