Lance Drury Law
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IRS Archives

How to pay taxes on cryptocurrencies like bitcoin

Over the past year, cryptocurrencies like Bitcon and Ethereum have soared in popularity. Once an underground trend known only to a select few investors, cryptocurrency is now better known than ever. But as more people choose to invest in Bitcoin and other cryptocurrencies, they are encountering an issue that they probably hadn’t thought about: How to pay taxes on it.

IRS Criminal Investigation releases annual report of tax crimes

The Internal Revenue Service’s Criminal Investigation Division (CI) has released its annual report detailing the investigation of tax-related criminal activity. Every year, the agency releases this report in order to highlight its major accomplishments in pursuing financial crime. This year's report shows a decrease in the number of cases that the CI was able to investigate, but a remarkably high conviction rate for the cases that it did pursue.

Missouri lawmakers advocate for more tax cuts

The nation is currently facing a massive tax overhaul at the national level, and so is Missouri in its state legislature. Two proposals currently in the Missouri House and the Missouri Senate aim to significantly overhaul the state’s tax code. Notably, the legislation would increase tax cuts, cap several tax credits and decrease state revenue by over a billion dollars.

Concerns over the IRS rehiring workers with past conduct issues

Taxpayer interactions with Internal Revenue Service officers and other IRS employees can involve very high-stakes tax issues. IRS workers can have a lot of power within these interactions. So, what happens in these interactions and how responsibly IRS employees act in their use of this power during the course of them can be very impactful for taxpayers. Skilled tax attorneys can guide taxpayers through these impactful interactions and keep an eye on whether IRS workers cross the line in their case.

Tax issues related to gambling

Many things in our world can have tax implications. This includes how lucky a person proves to be when they gamble. In today’s post, we will talk about a couple of the big tax issues that come up in connection to gambling.

When you are contacted by the IRS

There are a range of circumstances in which a taxpayer could end up being contacted by the Internal Revenue Service. Such contact can take multiple forms. You might receive a letter from the agency. A revenue agent or officer might contact you by phone. Also, you might be visited by a revenue agent, revenue officer or criminal investigator at your place of business or home.

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The Law Firm of Lance R. Drury
150 Merchant Street
(By Appointment)
Ste. Genevieve, MO 63670

Phone: 314-200-0003
Fax: 573-883-3095
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Columbia Office
3610 Buttonwood Drive, Suite 200
(By Appointment)
Columbia, MO 65201

Phone: 314-200-0003
Phone: 573-886-8900
Fax: 573-886-8901

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St. Louis, MO 63127

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Fax: 314-238-7201

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