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Archive for TaxConnections

Launch Of A New Era In Marketing Tax Services: Learn How To Easily Generate Revenue… Even While You Are On Vacation

Launch of TaxConnections Marketplace

As the CEO of, I have spoken to hundreds of thousands of Tax Executives in corporate tax organizations, and Tax Partners in public accounting and law firms over 25+ years. How a corporate tax executive is introduced to tax professionals in tax accounting and tax legal services firms is about to change as we launch TaxConnections Marketplace during our October 21, 2021 online Virtual Tax Summit.

What is TaxConnections Marketplace? It is a platform that enables all of our tax professional members to upload content for sale and be paid 75% of sales revenue everytime your content is downloaded in our Digital Markerplace.

What are examples of content TaxConnections Members can upload?

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TaxConnections Launches Innovations During Virtual Tax Summit

It is an exciting day to see an explorer and innovator launch into space; therefore, we congratulate Amazon’s Jeff Bezos on this remarkable achievement. We also want to congratulate the tax community on the innovations we see in the profession.

On Thursday, October 21, 2021 TaxConnections is hosting a Virtual Tax Summit to showcase the expertise of the tax community and launch our innovation that helps tax professionals sell their services  to multiple buyers of their specialty expertise. There is an extraordinary pool of talented tax, financial and legal expertise we will spotlight during our Virtual Tax Summit as we launch our new innovation on the market that sells tax expertise while you sleep.

If you are interested in participating in the Virtual Tax Summit as a Speaker Sponsor, please contact

If you are interested in receiving a Complimentary VIP Ticket to TaxConnections Virtual Tax Summit on October 21, 2021, please become a TaxConnections Member today.

An Extraordinary Breakthrough For Tax Professionals Selling Tax Services In The Global Marketplace

An Extraordinary Breakthrough For Tax Professionals Selling Tax Services In The Global Marketplace

Almost every significant breakthrough is the result of a courageous break with traditional ways of thinking. ~ Stephen Covey

The market has changed!  You are invited to join a select group of leading-edge innovators. TaxConnections Virtual Tax Summit  launches innovative changes in marketing and selling tax services around the world.  We are seeking Speaker/Sponsors to present their expertise and then sell it on the open market after the event. How we do that you will learn communicating with us about the limited number of  Speaker/Sponsor positions now available.

Why Join As Speaker/ Sponsor

Our Sponsors are at the tip the spear generating increased revenue for their tax expertise. We have created technology for our Sponsors to be positioned first to generate revenue for their expertise. Virtual Tax Summit Sponsors will be known as the first adopters and innovators participating in a new generation of selling tax services.

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IRS: Monthly Child Tax Credit Payments Begin

IRS: Monthly Child Tax Credit Payments Begin

The Internal Revenue Service and the Treasury Department announced today that millions of American families have started receiving monthly Child Tax Credit payments as direct deposits begin posting in bank accounts and checks arrive in mailboxes.

This first batch of advance monthly payments worth roughly $15 billion reached about 35 million families today across the country. About 86% were sent by direct deposit.

The payments will continue each month. The IRS urged people who normally aren’t required to file a tax return to explore the tools available on These tools can help determine eligibility for the advance Child Tax Credit or help people file a simplified tax return to sign up for these payments as well as Economic Impact Payments, and other credits you may be eligible to receive.

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A Good Read: IRS Criminal Investigations Report

IRS Criminal Investigations Report

CRIMINAL INVESTIGATION’S (CI) primary resource commitment is to develop and investigate tax crimes, both legal and illegal source. Prosecution of these cases supports the overall IRS compliance goals and enhances voluntary compliance with the tax laws. CI works some of these investigations with our federal, state and local law enforcement partners and also coordinates with foreign tax and law enforcement agencies. The Illegal Source Financial Crimes Program encompasses tax and tax-related, money laundering and currency violations. These investigations focus on individuals deriving income from illegal sources, such as money obtained through embezzlement, bribery, and fraud.

The individuals can be legitimate business owners but obtain their income through illegal means. These investigations focus on methods through which individuals seek to launder their ill-gotten income by making it appear the income is from a legitimate source. Frequent money laundering techniques include the manipulation of currency reporting requirements, layering of transactions and international movement of funds.

Download The CI Annual Report

John McAfee Indictment For Tax Evasion: What Now?

U.S. Department of Justice
This is a post from the US Department of Justice…your commentary is appreciated.
Allegedly Hid Cryptocurrency, a Yacht, Real Estate and Other Properties in Nominee Names to Evade Taxes

An indictment was unsealed today charging John David McAfee with tax evasion and willful failure to file tax returns, announced Principal Deputy Assistant Attorney General Richard E. Zuckerman of the Justice Department’s Tax Division and U.S. Attorney D. Michael Dunavant for the Western District of Tennessee. The June 15, 2020 indictment was unsealed following McAfee’s arrest in Spain where he is pending extradition.

According to the indictment, John McAfee earned millions in income from promoting cryptocurrencies, consulting work, speaking engagements, and selling the rights to his life story for a documentary. From 2014 to 2018, McAfee allegedly failed to file tax returns, despite receiving considerable income from these sources. The indictment does not allege that during these years McAfee received any income or had any connection with the anti-virus company bearing his name.
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Trading With Or From The United Kingdom With The European Union: What You Need To Know And Be Ready For

Trading With Or From The UK With The EU

On July 1, 2021, the European Union will introduce changes to the existing VAT regime that will impact UK-EU trade. This memo covers the key points that will affect UK-EU trading that you should be aware of.

1. Removing The €22 VAT Exemption For Imports

The exemption for goods valued up to €22 no longer
applies. Therefore, VAT will be charged on imports to
the EU regardless of value.

VAT will apply at the rate of the buyer’s country of
residence. It is different for every EU country: for example,
Italy – 22%, France – 20%, Germany – 19% etc.

2. One-Stop-Shop (OSS) and Import One-Stop-
Shop (IOSS)

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TaxConnections Virtual Tax Summit (Speaker/Sponsor Request)

Virtual Tax Summit - October 21st 2021

TaxConnections has updated the upcoming Virtual Tax Summit Conference to October 21st 2021.

All TaxConnections Members will be provided a complimentary pass to the event which will cover three main topic categories: International Tax, Federal Tax, State and Local Taxes. CPE will be available with selected presentations.

International Tax Topics

1) Bi-Lateral Tax Treaties
2) Expatriate Taxation
3) Transfer Pricing

Federal Tax Topics
1) Tax Implications of Crypto Currency
2) Rise Of The IRS
3) Lowering Tax Rates With Tax Credits & Incentives

State And Local Tax Tax Topics
1)Wayfair Tax Compliance
2)State Income And Franchise
3)Sales And Use Tax
4)Property Tax

Why are participants excited about this particular event?
We are launching a new way to sell tax services!!!

Click Read More Link Below

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Speaker And Sponsor Request – TaxConnections Virtual Tax Summit

TaxConnections Virtual Tax Summit

The market has changed, and you are about to learn the most exciting and impactful change we have developed to generate a steady stream of revenue for tax professionals and tax services firms. What we are doing during this Virtual Tax Summit is unlike anything you have ever experienced previously in new client acquisition and revenue generation.

This event a game changer for the entire tax profession as we launch a powerful new platform to sell tax services.

We are sharing this revenue generating secret with our Speaker/ Sponsors who will be at the tip the spear generating income for their tax expertise.

You are invited to attend TaxConnections Virtual Tax Summit as a Speaker/ Sponsor on Thursday, October 21, 2021. This is a one-day event utilizing the highest quality virtual conference technology.

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Permanent Establishment or Not?

Permanent Establishment or Not?

When it comes to tax, trading internationally from a fixed place of business is quite confusing and daunting. If you are trading abroad, the location where the business is wholly or partially conducted can inadvertently create a Permanent Establishment (PE). With different examples, this document will explain how a PE is created and provide a high-level overview of the hidden traps that can trigger a PE.

When it comes to tax, trading internationally from a fixed place of business is quite confusing and daunting. If you are trading abroad, the location where the business is wholly or partially conducted can inadvertently create a Permanent Establishment (PE). With different
examples, this document will explain how a PE is created and provide a high-level overview of the hidden traps that can trigger a PE.

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Is Your Gift is Taxable ?

Is Your Gift is Taxable ?

If you’ve given money or property to someone as a gift, you may owe federal gift tax, but in many cases, you will not. For example, there is usually no tax if you make a gift to your spouse or a charity. If you make a gift to someone else, the gift tax usually does not apply until the value of the gifts you give that person exceeds the annual exclusion for the year.

In 2021, you can give any amount up to $15,000 per person per year with no gift tax liability. However, gifts exceeding that amount are counted against a gift tax exemption of $11,700,000 and are subject to gift tax. At your death, these gifts could become your taxable estate (with credit for gift tax paid).

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Written Testimony Of Charles P. Rettig, Commissioner Internal Revenue Service

Charles Rettig IRS Commissioner

Written Testimony of Charles P. Rettig, Commissioner Internal Revenue Service before the Senate Finance Committee on the IRS Budget

June 8, 2021


Chairman Wyden, Ranking Member Crapo and Members of the Committee, thank you for the opportunity to discuss the IRS budget and provide you with an update on IRS operations.

I am pleased to report the 2021 filing season, which was extended to May 17, went smoothly in terms of tax return processing and the operation of our information technology (IT) systems. Through May 28, the IRS received more than 149.6 million individual federal tax returns and issued more than 101.2 million refunds totaling more than $281.4 billion. In 2021, we have had had more than 1.4 billion visits to and have received more than 150 million taxpayer phone calls (more than 300 percent of normal; at one point we were receiving calls at the rate of 1,500 per second) and have answered more than 37 million calls through our automated systems and live phone assistors. Although the filing deadline has passed, I would note that the work of the filing season goes on well beyond the deadline – IRS employees continue to process tax returns, including amended returns and returns for which taxpayers had requested an extension beyond May 17.

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