Audits – Page 2 – Wagner Tax Law

February 19, 2014Guest Contributor – Mike O'BrienCategories: Audits, Minnesota Tax Court, ResidencyTags: 26 factors, change Minnesota domicile, change Minnesota residency, changing Minnesota residency, changing MN residency, domicile, Minnesota domicile, Minnesota residency law, Minnesota residency presumptions, Minnesota resident, Minnesota resident tax, MN domicile, MN resident, MN resident tax, presumptions Minnesota resident, residency in Minnesota, resident of Minnesota, tax rules Minnesota resident, tax rules MN resident, twenty-six factors

Who Qualifies as a Resident of Minnesota?: The Factors Considered to Determine Domicile

This is the third article in a series dedicated to the rules regarding who qualifies as a “res...

November 4, 2013Guest Contributor – Mike O'BrienCategories: Appeals, Audits, Minnesota Tax Court, ResidencyTags: changing Minnesota residency, changing MN residency, domicile, Minnesota domicile, Minnesota resident, Minnesota resident tax, MN domicile, MN resident, MN resident tax, residency in Minnesota, resident of Minnesota, tax rules Minnesota resident, tax rules MN resident

Who Qualifies as a Resident of Minnesota?: Domiciliary Resident Status

This is the first article in a series dedicated to the rules regarding who qualifies as a “res...

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 25, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, business vehicle deduction, Code Section 162, Code Section 274, continuity and regularity, credit card receipts to prove business expenses, deducting mileage, Documentation, expenses for carrying on a trade or business, gifts deductible, gifts deduction, gifts rules for deducting, income tax audit, IRC Section 162, IRC Section 274, IRS Audits, irs business vehicle, irs meals and entertainment, irs vehicle expenses, listed property irs, meals and entertainment deduction, meals and entertainment expenses, meals and entertainment tax, mileage log taxes, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, Section 274, substantiation, trade or business expenses

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...

February 7, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

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...

January 18, 2013Guest Contributor – Mike O'BrienCategories: Accounting, Appeals, Audits, Income and DeductionsTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary and necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

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...

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

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...

December 18, 2012Guest Contributor – Mike O'BrienCategories: Accounting, Audits, Income and Deductions, Profit MotiveTags: Audit, audit proving business expenses, business audit, business IRS audit, Code Section 162, continuity and regularity, credit card receipts to prove business expenses, Documentation, expenses for carrying on a trade or business, income tax audit, IRC Section 162, IRS Audits, Minnesota audit, Minnesota Department of Revenue audits, necessary business expenses, ordinary business expenses, profit motive, proving business expenses, receipts to prove business expenses, substantiation, trade or business expenses

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...

November 27, 2012Guest Contributor – Thomas M. ReganCategories: Accounting, Appeals, Audits, Employment Taxes, Independent ContractorsTags: Independent contractor, Section 530

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...

November 6, 2012Guest Contributor – Thomas M. ReganCategories: Accounting, Audits, PenaltiesTags: facade easements, historic preservation, penalties, restrictive easements, valuations, Whitehouse hotel limited partnership

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...

September 29, 2012Guest Contributor – Thomas M. ReganCategories: Audits, Collection OptionsTags: Audit Reconsideration, Courtesy Review

Can I get the IRS or the MDR to change the assessment against me after they have started collection action like levies and liens?

Yes. For the IRS, the procedure is known as an Audit Reconsideration Request (AR). The IRS has the d...

September 18, 2012Guest Contributor – Mike O'BrienCategories: Accounting, Appeals, Audits, Income and DeductionsTags: how long doe, how long does the IRS have to change a tax return, IRC 6501, IRS statute of limitations, statute of limitations on assessment

Who Qualifies as a Resident of Minnesota?: The Factors Considered to Determine Domicile

Who Qualifies as a Resident of Minnesota?: Domiciliary Resident Status

Section 530 – Reasonable Basis

Section 530 – Substantive Consistency

Substantiating Business Expenses in Audits – Special Rules for Travel, Meals and Entertainment, Gifts, and any “Listed” Property Expenses

Substantiating Business Expenses in Audits – Step Four: Proving a Business Expense is “Necessary”

Substantiating Business Expenses in Audits – Step Three: Proving a Business Expense is “Ordinary”

Conservation Easements – Subordinating Mortgages

Real Estate Professional – Maintaining Adequate Records

Substantiating Business Expenses in Audits – Step Two: Proving a “Trade or Business” Incurred the Business Expenses

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 get the IRS or the MDR to change the assessment against me after they have started collection action like levies and liens?

IRS Statute of Limitations on Assessment for Individual Income Taxes: Exceptions and Considerations

Can I Recover Income Tax Refunds When I File My Returns Late?

IRS Audits: The Administrative Summons and Defending Against the Administrative Summons

A Primer In Foreign Bank Account Reporting

Substantiating Business Expenses in Audits – Step One: Providing the Documents

Innocent Spouse Relief- IRS Modifies Section 6015(f), Equitable Relief Rules

Rental Real Estate Activities – Passive Loss Limitations