How Long Do I Need To Keep My Tax Records?

March 14, 2017Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Collection Issues, Tom Regan, U.S. Tax CourtTags: burden of proving payment, CDP, How long do I keep my tax records, pattern of paying, Paynter

How Long Do I Need To Keep My Tax Records?

I am often asked how long do I have to maintain records to protect myself against actions by the Int...

December 8, 2016Guest Contributor – Thomas M. ReganCategories: Collection Issues, Tom ReganTags: CDP Hearing, Collection Due Process Hearing, Intent to Levy, IRS Final Notice, IRS Notice, Metro MN Tax Lawyer, minneapolis tax, Minneapolis Tax Attorney, Minneapolis Tax Lawyer, minnesota tax, MN Tax Attorney, Notice of Intent to Levy, st. paul tax, st. paul tax attorney, st. paul tax lawyer, tax attorney mn, tax lawyer mn, twin cities tax, Twin Cities Tax Attorney, Twin Cities Tax Lawyer

Notice of Right to a Collection Due Process Hearing – Is the IRS Trying to Hide the Ball?

The IRS must give a taxpayer written notice, sent by certified mail, at least 30 days before it take...

August 21, 2016Guest Contributor – Thomas M. ReganCategories: Bankruptcy, Collection Issues, Collection Options, Tom ReganTags: Bankruptcy, Colson, late returns, SFR, substitute for return

Late Returns and Discharging Taxes in Bankruptcy

If you want the chance to discharge your individual income taxes in bankruptcy, in Minnesota, file y...

June 23, 2016Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Collection Issues, Employment Taxes, Tom ReganTags: decline inRrevenue Officers, early aleerts for Federal tax deposits, early alerts for FTD, EFTPS, employment taxes, problems with payroll tax preparers, real-time information, Tax Gap

Employment Taxes and Early Intervention

The IRS appears to be more serious about pursuing and prosecuting companies that do not pay their e...

May 30, 2016Guest Contributor – Thomas M. ReganCategories: Tom ReganTags: Account Transcripts, attorney fees, change assessment, compromise, discharge taxes in bankruptcy, employment taxes, FOIA and GDPA, GDPA, Innocent Spouse, less than owing, litigation awards, non-passive, passive, payment plan, personal injury, profit motive, settlement awards, trust fund taxes, unpaid taxes

The Complete Lawyer – Tax Controversies

Tom recently presented a seminar to Minnesota attorneys in which he shared some common questions ask...

April 30, 2014Guest Contributor – Thomas M. ReganCategories: Collection Issues, Federal District Court, Summons, Tom ReganTags: 7402, 7602, 7604, administrative summons, Clarke, IRS summons, summons, Supreme Court, U.S. v. Clarke

IRS Summons – Defending Against the Summons

The United States Supreme Court is considering an investor’s objection to summonses issued by the ...

April 9, 2014Guest Contributor – Thomas M. ReganCategories: Employment Taxes, Income and Deductions, Settlements and Verdicts, Tom ReganTags: 20133501F, attorneys fees, LAFA, LEgal Advise Issued by Field Attroenys

Awards of Attorneys Fees to the Plaintiff – When Are They Taxable as Wages?

Settlements in legal disputes between employers and employees can vary significantly depending on wh...

March 20, 2014Guest Contributor – Thomas M. ReganCategories: Accounting, Penalties, UncategorizedTags: 6051, abate, accountant, filing date, Knappe, Late filing penalty, penalty, reasonable cause, reliance, rely, return

Relying On the Advice of an Accountant – When Does It Constitute Reasonable Cause to Abate a Late Filing Penalty?

The U.S. Supreme Court recently refused to hear an appeal from the Ninth Circuit Court of Appeals in...

March 2, 2014Guest Contributor – Thomas M. ReganCategories: Collection Options, Offer In CompromiseTags: DATC, DATL, ETA, offer amount, Offer in Compromise, partial payment installment agreement, rejected offer

Offer in Compromise – Is It An Option?

We regularly receive calls from people who tried to resolve their tax obligations through an Offer i...

February 9, 2014Guest Contributor – Thomas M. ReganCategories: Collection Issues, Collection Options, Installment Agreements, Offer In CompromiseTags: Bankruptcy, currently not collectible, Innocent Spouse, installment agreement, IRS', Offer in Compromise, options, owe, payment plan, streamlined, taxes

I Owe the IRS Money – What Can I Do?

We often receive telephone calls and e-mails from individuals and businesses who have been contacted...

January 6, 2014Guest Contributor – Thomas M. ReganCategories: Claim For Refund, Federal District Court, Trust Fund Recovery Penalty, U.S. Court of Federal ClaimsTags: claim for refund, divisible tax, Trust Fund, Trust Fund Recovery Penalty

Claim for Refund of the Trust Fund Recovery Penalty

An individual assessed the Trust Fund Recovery Penalty (TFRP) has the option to pay just a portion o...

April 12, 2013Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Employment Taxes, Independent ContractorsTags: Independent contractor, reasonable cause, Section 530

Section 530 – Reasonable Basis

This is the fourth article in a series dedicated to using Section 530 of the Revenue Act of 1978 as...

March 5, 2013Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Independent ContractorsTags: Section 530, Section 530 Minnesota, Substantive Consistency

Section 530 – Substantive Consistency

This is the third article in a series dedicated to using Section 530 of the Revenue Act of 1978 as p...

February 12, 2013Guest Contributor – Thomas M. ReganCategories: Accounting, Employment Taxes, Independent ContractorsTags: 1099, Reporting Consitency, Section 530

Section 530 – Reporting Consistency

This is the second article in a series dedicated to using Section 530 of the Revenue Act of 1978 as ...

January 24, 2013Guest Contributor – Thomas M. ReganCategories: Collection Issues, Collection Options, Offer In CompromiseTags: Effective Tax Administration, Effective Tax Administration Offer, ETA, ETA Offer, Offer in Compromise, Taxpayer Advocate, Taxpayer Advocate Report to Congress

Effective Tax Administration (ETA) Offer – An Underutilized Option.

In her annual Report to Congress, Nina Olson , the Taxpayer Advocate, pointed out that the IRS is un...

January 3, 2013Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Charitable Contributions, Real EstateTags: Charitable contributions, conservation easements, real estate

Conservation Easements – Subordinating Mortgages

There are many tax and social benefits to gifting a conservation easement. Unfortunately, some taxpa...

December 27, 2012Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, Real Estate, U.S. Tax CourtTags: 469, Kutney, passive income, Passive loss, passive loss limitation, qualifying real estate professional, Real Estate Professional, Rental Real Estate

How Long Do I Need To Keep My Tax Records?

Notice of Right to a Collection Due Process Hearing – Is the IRS Trying to Hide the Ball?

Late Returns and Discharging Taxes in Bankruptcy

Employment Taxes and Early Intervention

The Complete Lawyer – Tax Controversies

IRS Summons – Defending Against the Summons

Awards of Attorneys Fees to the Plaintiff – When Are They Taxable as Wages?

Relying On the Advice of an Accountant – When Does It Constitute Reasonable Cause to Abate a Late Filing Penalty?

Offer in Compromise – Is It An Option?

I Owe the IRS Money – What Can I Do?

Claim for Refund of the Trust Fund Recovery Penalty

Section 530 – Reasonable Basis

Section 530 – Substantive Consistency

Section 530 – Reporting Consistency

Effective Tax Administration (ETA) Offer – An Underutilized Option.

Conservation Easements – Subordinating Mortgages

Real Estate Professional – Maintaining Adequate Records

Relief for Businesses Using Independent Contractors: Section 530 is Still a Viable Option

Valuations Misstatements and the IRS Accuracy Penalty (IRC Section 6664(c))

Can I discharge income taxes in bankruptcy?