Taxpayers have problems with unreported income. In Tibin v. Commissioner of Internal Revenue, Yagoub Tibin, sole owner of TM Transportation, LLC, sought a redetermination of a 2020 federal income tax deficiency determined by the IRS. The IRS alleged that Tibin had unreported income earned in his transportation business and disallowed certain business expense deductions.
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New US rule targeting real estate money laundering slated for early 2024
A long-awaited rule meant to clamp down on money laundering through the U.S. real estate market is likely to be proposed in early 2024, according to the U.S. Treasury Department. The new regulations may require real estate professionals to report the...


