by Michael Hogberg, EA | Oct 29, 2024 | Federal Tax, Updates
As the end of the year approaches, business owners may find themselves tempted to hold off on tax planning until tax preparation season. But waiting until it’s time to file returns is a mistake that often proves costly. Strategic planning throughout the year,...
by Michael Hogberg, EA | Oct 1, 2024 | Updates
Is Extending Your Tax Return the Right Move? As we continue to progress through the year, many taxpayers are relying on extensions to file their returns by October 15. While extensions can be useful for some, they may not always be in your best interest. Filing an...
by Michael Hogberg, EA | Aug 1, 2023 | Enforcement Updates, Expert Analysis, Federal Tax
Ascendancy is committed to providing expert tax planning and compliance services to businesses across various industries. In this case study, we shed light on a real-life scenario that emphasizes the importance of accurate bookkeeping and the consequences of...
by Michael Hogberg, EA | Dec 14, 2022 | Enforcement Updates
Wednesday, December 14, 2022 A federal jury convicted a Maryland security guard today of tax evasion. According to court statements and evidence presented in court, Gaston Gilberto Reyes, of Germantown, did not file income tax returns with the IRS for the years 2015...
by Michael Hogberg, EA | Nov 16, 2022 | Expert Analysis
Wednesday, November 16, 2022 Did Not Pay Over $1 Million in Payroll Taxes Withheld from Employees The owner of a Sergeant Bluff, Iowa, construction firm pleaded guilty today to tax evasion for evading payment of his company’s employment taxes. According to court...