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Articles Sorted By Cagegory

• ACA Penalties (1)
  • Does the IRS Have Authority to Certify ACA Employer Penalties?
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• Accounting Method (13)
  • Missed Opportunity When a Partner Dies: the Section 754 Election
  • When You Can’t Deduct Annual Business Expenses
  • Court Clarifies Tax Treatment of Loyalty Programs
  • Accounting for Interest Deductions as a Tax Planning Option
  • Triggering Losses by Selling a Business: NQDC Example
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• Accuracy Penalties (7)
  • Is a Taxpayer Accountable for their Tax Preparer’s Fraud?
  • Software Failures Can be Reasonable Cause for IRS Penalties
  • Frivolous Tax Returns Avoid Accuracy-Related Penalties
  • Court: Complex Tax + Professional Advice = No Tax Penalty
  • Substantial Authority, When the Authority is Not Clear
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• Amended Tax Returns (27)
  • What “Authority” for Accountant Nullifies the Disability Exception for Tax Refunds?
  • COVID-19 Extended Tax Deadlines Longer Than Many Realized
  • You Can’t Raise What You Didn’t Know: The Variance Doctrine
  • Does DOJ Referral Strip IRS of Power to Process Refund Claim?
  • When the IRS Agrees You’re Right But the Court Says You’re Wrong
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• Bankruptcy Tax (19)
  • Paying Taxes to the IRS Prior to Filing Bankruptcy
  • The “Wait & See” Approach to IRS Tax Debts
  • Does Nominee Tax Liability Extend to Employees?
  • IRS Audits for Insolvent Taxpayers
  • The IRS Isn’t Charged With Knowledge of Other Federal Agencies
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• Business Sale (1)
  • Settling Debts in an Asset Purchase: Immediate Deduction or Capitalized Cost?
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• Business Tax (39)
  • Contribution of A Note to a Subsidiary: The Zero-Basis Rule
  • Can an Active Limited Partner Avoid Self-Employment Tax?
  • Tax Planning for Net Operating Loss Carryback Elections
  • Business Owner Liable for Tax Incurred by a Buyer After the Sale of the Business?
  • What Makes a Partnership Transaction a Disguised Sale?
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• C Corporation Tax (10)
  • Business Owner Liable for Tax Incurred by a Buyer After the Sale of the Business?
  • Income Shifting to Reduce Tax for Real Estate Sale
  • The Disguised Dividend for Owner-Employees
  • Tax Implications of Debt vs. Equity in Related Entities
  • Overcoming the IRS’s Constructive Dividends Argument
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• Cancellation of Debt (8)
  • Can You Create Deductions by Forgiving Debt to Your Own Entities?
  • Can You Still Owe Taxes on a Loan That’s 10 Years Old?
  • COD Income: Do You Count Pension Payments?
  • Avoiding Tax on Discharge of a Mortgage
  • Reporting Debt Discharged in a Court Settlement to the IRS
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• Capital vs. Ordinary (11)
  • Convert Interest Income to Capital Gains on Sales by Omitting Interest?
  • Taxation of Variable Prepaid Forward Contracts
  • Tax Deductions for Non-Facilitating Costs for IP, M&A & Real Estate
  • Investment vs. Business Tax Losses
  • When is Rental Real Estate a Business?
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• Captive Insurance (1)
  • Captive Insurance Tax Deductions Denied, No Risk Distribution
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• Charitable Deduction (11)
  • Can a Missing Statement in a Donation Letter Cost You the Entire Deduction?
  • Charitable Deductions for Defective Inventory
  • Charitable Tax Deductions & Bargain Sales
  • Tax Benefits of Charitable Remainder Trusts
  • Reasonable Cause & Reporting Charitable Donations
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• Choice of Entity (5)
  • Tax Planning With Disproportionate Distributions from S Corporation
  • Limited Partners May be Subject to Self-Employment Tax
  • Forget the 5-Year Rule – Change Entity Classification Early
  • Choice of Entity: Tax Plans for Pharmacies
  • Qualifying for Section 1244 Stock Losses
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• Conservation Easement (3)
  • Can a Missing Statement in a Donation Letter Cost You the Entire Deduction?
  • Retaining Rights With a Charitable Conservation Easement
  • Conservation Easement Denied for Private Golf Course
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• Depreciation (15)
  • Selling a Furnished Vacation Home: Allocating Between Real & Personal Property
  • Missed Opportunity When a Partner Dies: the Section 754 Election
  • Immediate Expensing for Real Estate Costs
  • The Short-Term Rental Tax Rules
  • Tax Deductions for Non-Facilitating Costs for IP, M&A & Real Estate
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• Economic Substance Doctrine (7)
  • What Makes a Partnership Transaction a Disguised Sale?
  • A Government Step Transaction Doctrine
  • Income Shifting to Reduce Tax for Real Estate Sale
  • The Stock Sale as a Sham Transaction
  • The Broad Reach of the Economic Substance Doctrine
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• Employee Benefits (10)
  • Do You Report Stock an Employer Mistakenly Gave You to the IRS?
  • Is Military Pension Taxable (Answered)
  • Retired Pilot Taxed on Flights Employer Provided to Relatives
  • Is a Gift to a Former Employee Taxable?
  • Tax Court Clarifies Employee Tool Plans
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• Employee Retention Credit (1)
  • No AutomaticDenial for ERC Claims Below 10% Threshold
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• Employment Tax (18)
  • Who Gets the Tax Credit When You Outsource Payroll to a PEO?
  • What is a Statutory Employee and Who Qualifies?
  • Can Limited Partners be Subject to Self-Employment Tax?
  • Income Tax Due for Business Use of Employee Tax Withholding
  • Can the IRS Collect When the IRS Owes the Taxpayer?
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• Estate & Gift (21)
  • Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation?
  • Gift Tax Triggered for Termination of Trust After Death
  • Navigating Late GST Tax Elections: Maximizing Exemptions for Trusts
  • Buy-Sell Agreements & Perils of the Estate Tax
  • Gift Tax Return for Wrong Year Starts IRS Statute of Limitations
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• Excise Tax (2)
  • Navigating the Highway Transportation Excise Tax
  • Fifth Circuit Expands Tire Import Excise Tax
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• Federal Income Tax (233)
  • Can a Missing Statement in a Donation Letter Cost You the Entire Deduction?
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • Who Gets the Tax Credit When You Outsource Payroll to a PEO?
  • Selling a Furnished Vacation Home: Allocating Between Real & Personal Property
  • Missed Opportunity When a Partner Dies: the Section 754 Election
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• Filing & Payment Penalties (11)
  • Software Failures Can be Reasonable Cause for IRS Penalties
  • Signature Not Required on Tax Return for Criminal Liability
  • Can You File a Zero-Income Tax Return if You Do Not Owe Any Tax?
  • Family Court Orders are No Excuse for Unpaid Taxes
  • Rejected e-File Return is a Valid Tax Return
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• Foreign Penalties (11)
  • Do FBAR Penalties Die With the Taxpayer?
  • FBAR Penalties Are Unconstitutionally Excessive
  • IRS Cannot Assess Foreign Information Return Penalties
  • No Collection Rights for IRS-Assessed FBAR Penalties
  • Court Says IRS Can Assess Form 5471 Penalties
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• Fraud Penalties (10)
  • When a Spouse’s Tax Evasion Conviction Does Not Bind You
  • Can a Criminal Prosecution Delay a Civil Tax Case?
  • Is a Taxpayer Accountable for their Tax Preparer’s Fraud?
  • Conduct During IRS Audit Evidence of Tax Return Fraud
  • Signature Not Required on Tax Return for Criminal Liability
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• Innocent Spouse Relief (17)
  • Taxes and Flow-Through Entities in Divorce
  • Allocations After Innocent Spouse Relief Granted
  • Late-Filed Tax Returns & Excess Collections
  • A New Beginning for Innocent Spouse Relief
  • Saving Taxes: The Cooperative But Innocent Spouse
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• Installment Agreement (12)
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • Can the IRS Walk Away from an Installment Agreement?
  • Installment Agreements Can Extend the IRS Collection Deadline
  • Can the IRS Require Personal Information for a Business Tax Debt?
  • IRS Collections: Can Taxpayers Rely on IRS Statements?
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• Installment Sale (5)
  • Can a Failed ESOP be Saved by Installment Sale Rules?
  • About the Monetized Installment Sale
  • Installment Sale Treatment for Mobile Home Trailers
  • The Timing Trap: Failed Installment Sales
  • Using an Installment Sale in Related Party Deal to Avoid Federal Tax
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• Interest Deduction (1)
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
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• International Tax (31)
  • Do FBAR Penalties Die With the Taxpayer?
  • FBAR Penalties Are Unconstitutionally Excessive
  • IRS Cannot Assess Foreign Information Return Penalties
  • Fifth Circuit Expands Tire Import Excise Tax
  • IRS Collections: Different Rules for Foreign Debts?
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• Involuntary Conversion (1)
  • Voluntary Sale In Advance of Forced Auction an Involuntary Conversion?
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• IRS Appeals (18)
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • An Offer of IRS Appeals Review Can Preclude Judicial Review
  • When Providing Information to the IRS Discloses Additional Tax Due
  • Sidestep Tax Court Review by Applying Overpayments
  • When the IRS Fails to Timely Respond: Who Pays?
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• IRS Audits (81)
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • If You Never Received a Form 1099, Do You Still Have to Report the Income?
  • Can the IRS’s Automated System Issue a Valid Notice of Deficiency?
  • The IRS Audit Credit-Card-to-Cash Estimation Method for Cash Businesses
  • When Providing Information to the IRS Discloses Additional Tax Due
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• IRS Debts (121)
  • What If You Don’t Show Up to Your CDP Hearing?
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • Can Corporate Suspension Foreclose U.S. Tax Court Review
  • Can the IRS Walk Away from an Installment Agreement?
  • When the IRS Levies Estate Property, Whose Fight is it?
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• IRS Interest (12)
  • Avoid IRS Interest With Credit Elects
  • Using Contract Law to Avoid IRS Interest
  • Is a Taxpayer Liable for Interest if the IRS Delays an Audit?
  • Revocation of Nonprofit Status Triggers Retroactive Interest
  • Wholly Owned Corp and Parent Not the “Same Corporation” for Interest Netting
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• IRS Liens & Levies (36)
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • Can Corporate Suspension Foreclose U.S. Tax Court Review
  • Can the IRS Walk Away from an Installment Agreement?
  • When the IRS Levies Estate Property, Whose Fight is it?
  • The IRS Collection System is Broken
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• IRS Misconduct & Disclosure (7)
  • Tee Time on Taxpayers’ Dime: IRS Employee Golfing on the Job
  • Limiting IRS Access to Your CPA & Tax Attorney Records
  • Think Twice Before Handing Records to the IRS
  • Can IRS’ Unauthorized Disclosure Trigger Punitive Damages?
  • IRS Agents Contact Third Parties During IRS Audit
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• IRS Passport Certification (2)
  • What Makes a Tax Debt “Legally Enforceable” for Passport Certification?
  • Contesting the IRS’s Passport Certification for Back Taxes
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• IRS Penalties (66)
  • When a Spouse’s Tax Evasion Conviction Does Not Bind You
  • An Offer of IRS Appeals Review Can Preclude Judicial Review
  • Can Jury Trial for IRS Penalty be Conditioned on Paying the Penalty First?
  • Can a Criminal Prosecution Delay a Civil Tax Case?
  • Is a Taxpayer Accountable for their Tax Preparer’s Fraud?
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• IRS Summons (4)
  • The Collection Exception to Notice for IRS Summons
  • The Crime-Fraud Exception to the Attorney-Client Privilege
  • The IRS’ Power to Fish for Records
  • IRS Contacts With Government Agencies
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• Lawsuit Awards (14)
  • Attorney Fees in Tax Litigation: Jury Says Yes, Judge Says No
  • The Non-Taxable Return of Capital
  • IRS Guidance on Structuring Attorneys Fees
  • Tax on Damages for Loss of Consortium
  • Tax on Payment for Being Born With Medical Condition
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• Loans (2)
  • When Does a Promissory Note Create Basis in Controlled Company Stock?
  • What is a Bona Fide Loan for Tax Purposes?
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• Lottery & Gambling (9)
  • How to Substantiate Gambling Tax Losses
  • Can Gambling Losses be Deducted as Casualty Losses?
  • Early IRA Distribution, Gambling Not a Disability
  • Opting Out of Gaming Industry Tip Compliance
  • Tax on Nonresident Alien Gambling Winnings
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• Marriage & Divorce Tax (18)
  • Taxes and Flow-Through Entities in Divorce
  • Recovering Taxes Paid for Another Party
  • A New Beginning for Innocent Spouse Relief
  • Married Filing Separate Spouse Liable for Tax
  • Divorce Planning for Those With IRS Back Taxes
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• Mitchell Tax Law (1)
  • When Does a Promissory Note Create Basis in Controlled Company Stock?
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• Nonprofit Tax (6)
  • Churches, Families, and Private Inurement
  • Business Condo Association Denied Non-Profit Status
  • Funeral Expense Organization Denied Nonprofit Status
  • Revocation of Nonprofit Status Triggers Retroactive Interest
  • Non-Profit No More: The Defunct Non-Profit
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• Offer in Compromise (22)
  • Settling Tax Debts Based on “Future Income” for Business Owners
  • IRS Collections: Can Taxpayers Rely on IRS Statements?
  • IRS Can Revoke Your Offer in Compromise if it Does Not Like You
  • CDP Hearings and OICs: When Does the 24-Month Clock Stop?
  • Resolving IRS Taxes: What is “Future Income”?
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• Partnership Tax (13)
  • Contribution of A Note to a Subsidiary: The Zero-Basis Rule
  • Can an Active Limited Partner Avoid Self-Employment Tax?
  • Missed Opportunity When a Partner Dies: the Section 754 Election
  • What Makes a Partnership Transaction a Disguised Sale?
  • Tax Court Strikes IRS Timeline for Partnership Adjustments
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• Passive Activity Losses (11)
  • Short-Term Vacation Rentals and Material Participation
  • A Government Step Transaction Doctrine
  • Restructured Business Fails Passive Activity Loss Rules
  • What is a Rental Activity?
  • Court Addresses Tax Losses from Short-Term Rentals
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• Premium Tax Credit (1)
  • The Premium Tax Credit Trap
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• Promoter Penalties (2)
  • An Offer of IRS Appeals Review Can Preclude Judicial Review
  • Can Jury Trial for IRS Penalty be Conditioned on Paying the Penalty First?
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• Real Estate (30)
  • Selling a Furnished Vacation Home: Allocating Between Real & Personal Property
  • Real Estsate Construction Delays Kill Tax Deductions
  • Converting a House to Rental Use
  • Claiming a Casualty Loss for Property You Don’t Own
  • Section 179D Tax Deduction Claimed in Final Year
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• Reasonable Cause (22)
  • Family Court Orders are No Excuse for Unpaid Taxes
  • Does E-Filing Change Late Tax Filing Penalties?
  • Court: Complex Tax + Professional Advice = No Tax Penalty
  • Failure to Review Tax Return Voids Penalty Defense
  • Avoiding Tax Penalties for Bookkeeper’s Mistakes
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• Recordkeeping (27)
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • The IRS Audit Credit-Card-to-Cash Estimation Method for Cash Businesses
  • Tax Disputes When You Have Too Many Records
  • From Commingled to Contested: The IRS’s Audit of Tax Deductions
  • Dealing With IRS Audit of a Hobby Loss Activity
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• Reportable Transactions (4)
  • IRS Changes Notice Requirement for Listed Transactions
  • Timing for Written IRS Manager Approval for Penalties
  • Computing the Reportable Transaction Penalty
  • Reportable Transaction Penalty, Full Payment Required
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• Rescission Doctrine (1)
  • Avoid Tax by Returning Pay
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• Research Tax Credits (14)
  • Website Development Tax Deductions & the Start-Up Rules
  • Enough is Enough, But An Amended Tax Return is Not
  • Research Tax Credit Records Must Be Kept for 40+ Years
  • R&D Credit Made Permanent & Enhanced
  • Research Was Not Routine, But Compensation Was Excessive
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• Restitution Tax Assessment (7)
  • Can Judge-Made Doctrine Override Tax Deductions Allowed by Congress?
  • When the IRS Comes Knocking: Addressing Tax Fraud
  • IRS Not Limited in Collecting Restitution Assessments
  • IRS Can Collect Father’s Tax Restitution from Son
  • No Interest & Penalties on Restitution Assessments
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• Retirement Accounts (25)
  • Probate Estate Can Serve as a Condit for Retirement Assets
  • Distributions From Forfeited IRA are Not Taxable
  • Triggering Losses by Selling a Business: NQDC Example
  • Tax Court: Is Diabetes a Disability?
  • IRA Excess Contribution Tax for Stock Sale
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• S Corporation Tax (22)
  • Can Judge-Made Doctrine Override Tax Deductions Allowed by Congress?
  • Tax Planning With Disproportionate Distributions from S Corporation
  • Strategic S Corp Conversion to Avoid Tax Basis Limitation
  • S Corporation: Distribution of Appreciated Assets
  • The Late S Corporation Election
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• Solar Tax Credit (1)
  • Planning for Commercial Solar Tax Credits
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• Split-Dollar Insurance (1)
  • Split-Dollar Insurance Failure: Income and No Tax Deduction
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• State & Local Tax (7)
  • Texas Taxes: Is an Owner Liable for Business Taxes?
  • California Taxes Out-of-State Trusts for Out-of-State Asset
  • Texas Franchise Tax: What are COGS?
  • Avoiding State Income Tax on Part-Time Residents
  • City Collects Church Property For Un-Owed Taxes
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• Tax (253)
  • Can a Missing Statement in a Donation Letter Cost You the Entire Deduction?
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation?
  • Can the IRS’s Automated System Issue a Valid Notice of Deficiency?
  • Who Gets the Tax Credit When You Outsource Payroll to a PEO?
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• Tax Crimes (27)
  • When a Spouse’s Tax Evasion Conviction Does Not Bind You
  • When Does a Tax Return Mistake Become a Crime?
  • Can a Criminal Prosecution Delay a Civil Tax Case?
  • Distributions From Forfeited IRA are Not Taxable
  • IRS Collection From Business Partner’s Property
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• Tax Deductions (57)
  • Settling Debts in an Asset Purchase: Immediate Deduction or Capitalized Cost?
  • Who Qualifies as a “Designer” for Section 179D Energy Tax Deductions?
  • What is a Statutory Employee and Who Qualifies?
  • Split-Dollar Insurance Failure: Income and No Tax Deduction
  • Can You Create Deductions by Forgiving Debt to Your Own Entities?
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• Tax Legislation (5)
  • No AutomaticDenial for ERC Claims Below 10% Threshold
  • The “Effective Date” for Tax Rules
  • A Look at Tax Legislation: What’s On the Table
  • Tax Aspect of the Bankruptcy Abuse Prevention & Consumer Protection Act
  • Lessons Learned from Colorado’s Taxpayer Bill of Rights
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• Tax Litigation (78)
  • When a Spouse’s Tax Evasion Conviction Does Not Bind You
  • What If You Don’t Show Up to Your CDP Hearing?
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation?
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• Tax Loss (36)
  • When Does a Promissory Note Create Basis in Controlled Company Stock?
  • Tax Planning for Net Operating Loss Carryback Elections
  • The Difference Between a Bad Business Investment and a Theft Loss
  • Using Ranching Tax Loss to Offset Other Income
  • Business Advances in Revenue-Sharing Deals Not Deductible
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• Tax Procedure (388)
  • When a Spouse’s Tax Evasion Conviction Does Not Bind You
  • What If You Don’t Show Up to Your CDP Hearing?
  • Can the IRS Deny Your Installment Agreement Because of Home Equity?
  • Can Your Business Deduct Credit Card Interest When the Card Is in Your Name?
  • Can the IRS Ignore Your Request for an Estate Tax Valuation Explanation?
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• Tax Return Preparer Penalty (8)
  • Is a Taxpayer Accountable for their Tax Preparer’s Fraud?
  • The IRS’s Challenges With Ghost Tax Preparation
  • The Injunction for Tax Return Preparers
  • The Tax Preparer’s Right to Appeal Return Penalties
  • About Tax Preparer Penalty Audits
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• Tax Returns (56)
  • If You Never Received a Form 1099, Do You Still Have to Report the Income?
  • When Does a Tax Return Mistake Become a Crime?
  • What “Authority” for Accountant Nullifies the Disability Exception for Tax Refunds?
  • COVID-19 Extended Tax Deadlines Longer Than Many Realized
  • You Can’t Raise What You Didn’t Know: The Variance Doctrine
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• Trust Fund Penalties (16)
  • Income Tax Due for Business Use of Employee Tax Withholding
  • Tax Form Mixup Can Extend the IRS’s Statute of Limitations
  • Bookkeeper Liable for Trust Fund Recovery Penalty
  • Hospital Administrator Owes Trust Fund Penalty
  • Fixing Trust Fund Recovery Penalties
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• Trust Taxes (2)
  • Navigating Late GST Tax Elections: Maximizing Exemptions for Trusts
  • Are Funds Advanced to Third Party Subject to Tax?
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• Unreported Income (9)
  • If You Never Received a Form 1099, Do You Still Have to Report the Income?
  • Can the IRS’s Automated System Issue a Valid Notice of Deficiency?
  • The IRS Audit Credit-Card-to-Cash Estimation Method for Cash Businesses
  • Blunt Truth: Paying Taxes on Illegal Income
  • Tax on Funds Received as an Intermediary Conduit
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• Virtual Currency (1)
  • Tax on Virtual Currency Received for Microtasks
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• Whistleblower Claims (10)
  • IRS Whistleblower Claims Denied for Inadequate IRS Audit
  • Whistleblower Claim Limited by Sequestration
  • Time Frame for IRS Whistleblower Claims
  • Whistleblower Cannot Remain Anonymous
  • Freedom of Information Act Reaches Whistleblower Documents
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• Withholding Tax (2)
  • No Unlimited Time Limit for IRS Withholding Tax
  • When Does the IRS Issue a Lock-in Letter?
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