It is not uncommon for small businesses to rely on friends and family for loans to assist the busine...
Death Is No Defense When It Comes To FBAR Penalties
People often joke that the only certainties in life are death and taxes. Well, it turns out that, wh...
IRS Expands Operations And Issues Additional Guidance In Response to Ever-Changing Pandemic Environment
On April 24, 2020, the Internal Revenue Service (IRS) issued an internal memo advising its employees...
Working With Taxing Authorities During The Coronavirus Pandemic
The recently imposed social distancing measures that are critical and essential to our nation’s ba...
IRS To Increase Focus On Delinquent-Filed Returns
The Internal Revenue Service (IRS) announced, in a recent Information Release and Fact Sheet, that i...
Proving ‘Material Participation’ In Today’s Digital Age
The fight over who meets the definition of a “real estate professional” is not a new one. Fortun...
State Sales Tax and Corporate Income and Franchise Tax After Wayfair
On June 21, 2018, The United States Supreme Court ruled 5-4 in South Dakota v. Wayfair that states c...
Can You Remotely Satisfy The Material Participation Test?
For many taxpayers with multiple active business interests, the material participation test can be a...
What Happens If The Small Business Administration Tells Me Not To Pay My Business’s Employment Taxes?
For many business taxpayers who have Small Business Administration (SBA) financing that ultimately g...
IRS Announces Increase to Late Filing Penalties for 2018 Federal Tax Returns
The IRS recently announced that taxpayers who owe tax and did not file their 2018 returns before Fri...
Taking Advantage Of Expanded Penalty Relief
The recent enactment of the Tax Cut and Jobs Act (TCJA) put many individual taxpayers in a difficult...
Emphasizing Physical Injuries In Settlement Agreements
The United States Tax Court (Court) recently issued a decision highlighting, yet again, the importan...
Another Tax Blow To The Marijuana Industry
The marijuana industry remains in a difficult position when it comes to the federal tax implications...
Can The IRS Really Seize My Assets Without Telling Me First?
The Internal Revenue Service (IRS) can utilize its jeopardy levy function (i.e., taking a taxpayerâ€...
Marijuana Dispensaries and the Federal Tax Trap
The marijuana industry has experienced a nationwide boom in the last five years. In 2013, the mariju...
Winning A Tax Battle, But Losing the Tax War
A recent U.S. Tax Court decision in Barker v. Comm’r of Internal Revenue, T.C. Memo. 2018-67 exemp...
Does the Internal Revenue Service’s “willfulness” standard in Trust Fund Recovery Penalty cases include a “reasonable cause” defense?
The recent Sixth Circuit decision in Bibler v. U.S., 2018 WL 1911249, may mark an evolution of the d...
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...
IRS Adopts The In-Person Approach
The Internal Revenue Service (IRS) had an interesting New Year’s resolution for 2018: more in-pers...