IRS

The Twin Cities business community certainly took notice when Medtronic, a locally based business, announced that they were purchasing Covidien. Perhaps the most surprising aspect of this deal is that the merged company will relocate its headquarters to Ireland. Reports from the Minneapolis Star Tribune indicate that many people immediately jumped to the conclusion thatcontinue reading…

It goes without saying that the federal congress is incredibly divided. In this day and age, compromises are difficult to come by. However, one lawmaker pointed to the possibility of a major tax law reform that could receive bipartisan support. Of course, this blog isn’t designed to provide political commentary. This post simple serves to inform readerscontinue reading…

When two people fall in love, old clichés would suggest that they have been struck by Cupid’s arrow. Conversely, it seems as though the Internal Revenue Service may be drawing back its bow and taking aim at newly divorced couples. A report from the Journal of Accountancy shows that the IRS is dedicating efforts to track downcontinue reading…

Everybody has probably hears stories about people who make a seemingly low-valued purchase at a garage sale and then discover a large cash reserve concealed within the item. While these examples of finding treasure might amount to little more than urban legends, one thing is certain: Found treasures can be considered taxable windfalls by thecontinue reading…

In 2009, Bitcoin became the first major peer-to-peer currency to be traded digitally, rather than in banks. Since that time, the digital currency, as it’s called by many, has generated a lot of attention. Given that people use Bitcoin as if it’s the U.S. dollar, a number of tax-related issues have circulated. Finally, officials fromcontinue reading…