Statements Made to IRS Special Agents

Can Defective Deed Defeat Irs Estate Tax Lien?

If you are contacted by an IRS special agent for an informal meeting, can statements made during the meeting be used against you in court? The answer is “maybe.” The court addresses this in United States v. Henry, No. 2017-0001 (D. VI 2018). Facts & Procedural History The IRS criminal investigation unit received a tip…

Innocent Spouse Relief for One’s Own Income

Retaining Rights With A Charitable Conservation Easement

While taxpayers are often aware that innocent spouse relief can eliminate their liability for tax on items of income earned by their spouse (or ex-spouse), fewer taxpayers realize that innocent spouse relief can also help with tax on income they earned themselves. The recent Heydon-Grauss v. Commissioner, T.C. Memo. 2018-209, case provides an opportunity to…

IRS Appeals Guidance on In-Person Conferences

Irs Appeals Guidance On In-person Conferences

The IRS Office of Appeals has been making changes to how it conducts appeals conferences.  In the past few years, these changes have made it difficult to obtain an in-person conference.  The IRS recently issued interim guidance AP-08-1118-0013 to authorize appeals to allow for more in-person conferences. About the IRS Office of Appeals The IRS…

The Dilemma: File A Timely or An Accurate Tax Return?

Court Clarifies Inventory Capitalization Rules For Producers

If you have an ongoing dispute with the IRS for one or more years and the outcome of that dispute will impact the current year, can you take a wait-and-see approach for filing the current year’s tax return?    Or should you wait to file an amended tax return after the audit? The Namakain v.…

The IRS Isn’t Charged With Knowledge of Other Federal Agencies

Can Defective Deed Defeat Irs Estate Tax Lien?

The IRS only has to mail a notice of deficiency to a taxpayer’s last known address in order to assess or record a tax liability for the taxpayer.  This “last known address” rule is often the subject of disputes.  The Sadek v. Commissioner, T.C. Memo. 2018-174, case provides an example where information available to the…

Whistleblower Cannot Remain Anonymous

The Trade Or Business Requirement For The Sec. 199a Deduction

We have previously written about the court’s position that serial whistleblowers, those who submit more than one whistleblower claim with the IRS, cannot remain anonymous when litigating the right to their whistleblower claims.  In Whistleblower 7208-17 v. Commissioner, T.C. Memo. 2018-118, the court confirms that this extends to those who use public information to submit…

When Forged Signatures Suffice: The Tacit Consent Exception

The Trade Or Business Requirement For The Sec. 199a Deduction

A tax return has to be signed to be valid.  But what if the return is signed by someone else?  Is a tax return with a forged signature a valid tax return?  The court addressed this in Coggin v. United States, No. 1:16-CV-106 (M.D.N.C. 2018). Facts & Procedural History The taxpayer relied on her attorney to…

Perception Can Be As Important as Substance in Tax Disputes

Perception Can Be As Important As Substance In Tax Disputes

Taxpayers voluntarily submit information to the IRS.  The IRS not only evaluates the substance of this information, but also the taxpayer’s candor in preparing and providing the information.  The perception of candor is just as important as the substance in many cases.  The Guess v. Commissioner, T.C. Memo. 2018-97, provides an example of how things can…

Loaning Money to Business Triggers Trust Fund Penalty

Court Says Partnership Is Worth Less, Not Entirely Worthless

You work hard to build a business, you find success over the years, and then you find out that your long term accountant did not remit payroll taxes and you owe a significant balance.  What do you do?  The recent McClendon v. United States, No. 17-20174 (5th Cir. 2018) case provides some answers. The Facts & Procedural…

Shareholder Cannot Make S Corp. Separately Stated Item Election

Shareholder Cannot Make S Corp. Separately Stated Item Election

S corporation’s account for separately stated items that flow through to the shareholder’s tax returns. They are computed on page 3 of the Form 1120S and then listed separately on the Schedule K-1. The idea for breaking these items out separately is that they can impact the shareholder’s individual returns differently. That makes sense, but…