Comiskey & Company, P.C.

06/01/2026

Confusion about IRS CP53E notices is growing — and scammers are taking advantage. CP53E is an official IRS notice related to tax refunds and bank account information. As the IRS shifts from paper checks to direct deposit, it’s mailing these notices to taxpayers who may need to add or update their banking details. The IRS warns that fraudsters are sending fake versions of the notice in an attempt to steal taxpayers’ sensitive information. If you receive one, verify its authenticity before acting. Do not click links or scan QR codes. The IRS communicates by mail, not digitally. Visit irs.gov to verify and respond. Have questions? We can help.

05/31/2026

05/31/2026

One of the many scams currently targeting taxpayers is fake online tax deduction calculators. These digital tools are intended to steal personal information and money from unsuspecting users. They’re often accompanied by false promises about new or expanded tax credits and deductions available under the One Big Beautiful Bill Act. The IRS says you should use calculators only on sites that end in .gov (such as irs.gov) or of well-known tax software companies. Also, be wary of any calculator that guarantees its result. Legitimate calculators can only produce estimates. And, as always, be suspicious of claims that seem “too good to be true,” such as unusually large tax savings.

05/30/2026

The IRS has expanded its guidance on abusive conservation easement transactions. It says promoter-driven conservation easement arrangements often rely on inflated property valuations, generating improper charitable deductions. A conservation easement is an agreement, usually with a government agency or land trust, to permanently restrict the use of real property. If an easement meets certain conservation goals and other requirements, the owner is entitled to claim a charitable tax deduction based on the easement’s value. The IRS has long warned taxpayers of abusive arrangements that could result in disallowed deductions, back taxes, interest and penalties. For details: https://bit.ly/4dbByGu

05/30/2026

When related business entities operate across state or national borders, they must follow transfer pricing rules. These rules require intercompany prices for goods, services or intellectual property to be comparable to prices that unrelated parties would use in arm’s-length transactions. Taxing authorities may scrutinize pricing that shifts profits to lower-tax jurisdictions. Noncompliance can lead to back taxes, interest and penalties. If your company already operates with related entities across borders, or is planning to do so, choose appropriate pricing methods, create or update transfer pricing policies, and maintain supporting documentation. Contact us for more information.

05/29/2026

Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking and toilet facilities could qualify as a home for the mortgage interest itemized deduction. Itemizers may also be able to deduct eligible state and local sales tax paid on a boat, subject to applicable limits. Vessels used in bona fide businesses, such as charter fishing or sightseeing, can generate deductible business expenses. Before assuming your boat delivers tax savings, contact us. We can help determine your vessel’s eligibility and provide guidance on substantiating any write-offs.

05/28/2026

Volunteering for a qualified charity can benefit more than your community — it may also provide tax savings. The time you spend volunteering for charity isn’t tax-deductible. However, some of your unreimbursed expenses directly related to volunteer work may qualify, including travel expenses (such as airfare, auto mileage, tolls, parking, lodging and meals), uniforms and supplies. To claim these deductions, you must itemize deductions on your tax return and maintain proper documentation, such as receipts and mileage logs. It’s also important to confirm that both the organization and the expenses qualify under IRS guidelines before claiming a deduction. Contact us for help.