The Internal Revenue Service (IRS) Taxpayer Advocate Service (TAS) recently released the above “su...
Are Moving Expenses Tax Free Under the New Tax Law?
Starting January 1, 2018, through December 31, 2025, job-related moving expenses are no longer tax-f...
Recent Announcements: The IRS to End Offshore Voluntary Disclosure Program on September 28, 2018; FinCEN Increases FBAR Penalties to Reflect Inflation
Offshore Voluntary Disclosure Program Ends September 28, 2018 The IRS recently announced that it wil...
Deadline to Appeal Minnesota Department of Revenue Assessment of Additional Tax
The Minnesota Department of Revenue (MDR) generally has 3.5 years from the date a tax return was due...
IRS Tests Expanded Streamlined Installment Agreement Program
New IRS Test Criteria for Streamlined Installment Agreements: Liabilities Up to $100,000 Eligible fo...
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...
Employment Taxes and Early Intervention
The IRS appears to be more serious about pursuing and prosecuting companies that do not pay their e...
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...
Section 530 – Reasonable Basis
This is the fourth article in a series dedicated to using Section 530 of the Revenue Act of 1978 as...
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...
Substantiating Business Expenses in Audits – Special Rules for Travel, Meals and Entertainment, Gifts, and any “Listed” Property Expenses
Substantiating business expenses is a common problem for many businesses going through an audit with...
Section 530 – Reporting Consistency
This is the second article in a series dedicated to using Section 530 of the Revenue Act of 1978 as ...
Substantiating Business Expenses in Audits – Step Four: Proving a Business Expense is “Necessary”
Substantiating business expenses is a common problem for businesses going through an audit wi...
Substantiating Business Expenses in Audits – Step Three: Proving a Business Expense is “Ordinary”
Substantiating business expenses is a common problem for many businesses going through an audit with...
Conservation Easements – Subordinating Mortgages
There are many tax and social benefits to gifting a conservation easement. Unfortunately, some taxpa...
Real Estate Professional – Maintaining Adequate Records
Doing well in a full time job is hard enough, but some people, for many reasons, spend significant t...
Substantiating Business Expenses in Audits – Step Two: Proving a “Trade or Business” Incurred the Business Expenses
Substantiating business expenses is a common problem for many businesses going through an audit with...
Relief for Businesses Using Independent Contractors: Section 530 is Still a Viable Option
This is the first article in a series dedicated to using Section 530 of the Revenue Act of 1978 as p...
Valuations Misstatements and the IRS Accuracy Penalty (IRC Section 6664(c))
I have been watching the tax cases dealing with building facade easements for insight into how the I...