Michael Sardar was quoted in a July 5, 2024, MarketWatch article titled “What it’s like to be audited by the bigger, better-funded IRS. ‘They are pushing harder now.’”
From the article:
“With the IRS stepping up enforcement on upper-income taxpayers, Michael Sardar, a partner handling tax disputes at the law firm Kostelanetz, is already getting calls from crypto investors who may have underreported their gains to the IRS, longtime nonfilers (meaning people who have repeatedly failed to file tax returns) and others worried they might be in the agency’s crosshairs.
They’re asking how to get their taxes in order and come clean with the tax agency before IRS notices arrive and make their tax situation worse, he said.
It’s not quite right to call this period ‘the calm before the storm,’ according to Sardar. There’s a better way to describe the moment, he said: ‘The breeze before the storm.’
There are now people contacting Sardar who haven’t filed tax returns in years, sometimes decades. ‘Those are people who thought for a long time, “‘I’m off the radar,'” he said. ‘They seem to be reassessing that comfort. They seem to be realizing or recognizing it’s a false comfort.'”
Access the webpage version of the article here.
