IRS Audits
Many books have been written about each of these subjects and this is not a substitute for them; or, more importantly, this is not a substitute for a consultation with an experienced tax attorney. This...
View ArticleNew California Use Tax Collection Strategy
In a September 8, 2009 press release, the California State Board of Equalization announced its new use tax registration requirements in an effort to identify taxpayers that have been failing to pay use...
View ArticleBOOSTING SALES AND USE TAX REVENUE FOR CALIFORNIA
Recent downturns in the economy and consumer spending have caused a decrease in the amount of Sales and Use Tax collected by the California Board of Equalization (BOE). According to the most recently...
View ArticleAudit Enforcement and Audit Plan Strategies
Audit Plan StrategiesThe Treasury Inspector General for Tax Administration (TIGTA) is responsible for monitoring and directing the IRS’s activities. Recently, the TIGTA estimated that taxpayers will...
View ArticleTHE AUDIT LOTTERY MYTH
Many people believe in the myth of the “audit lottery.” The audit lottery myth encourages the perception that the IRS chooses returns to audit at total random. Under a completely random system,...
View ArticleIRS PUSHES FOR SIX-YEAR AND LONGER AUDITS
Some recent court decisions and legislation give the IRS more flexibility to apply a six-year audit statute of limitations in more of its cases. The IRS even argues for no statute of limitation for...
View ArticleChallenging an Unfavorable Tax Audit Decision
This next post in the “anatomy of an audit” multi-post series outlines why a person or a business should strongly consider appealing an unfavorable tax audit decision and how they can go about seeking...
View ArticleThe Government Shutdown- Great News For Some Taxpayers
The budget impasse has suspended audits conducted by the Internal Revenue Service (“IRS”) and cases currently being litigated before the United States Tax Court. This will undoubtedly be a huge...
View ArticleIRS Targets: Tax Audits of Partnerships, LLCs, and other Pass-through Entities
The Internal Revenue Service announced on November 7, 2013, that it intends to make auditing and examining partnership and other pass-through entities, such as LLCs, S-Corporations, and sole...
View ArticleIRS Targets: Tax Audits of Partnerships, LLCs, and other Pass-through Entities
The Internal Revenue Service announced on November 7, 2013, that it intends to make auditing and examining partnership and other pass-through entities, such as LLCs, S-Corporations, and sole...
View ArticleIRS Threatens to Crackdown on Employee Perks
Steve was on the Channel 5 News broadcast at 11:00 pm in the CBS- KPIX Bay Area on September 3, 2014, discussing the Department of the Treasury’s IRS priority guidance plan, which provides notice that...
View ArticleTAX DISPUTE? KNOW YOU RIGHTS
When facing a tax dispute it is perfectly normal (and common) to feel intimidated by the government. Often, when determining whether or not to contest a tax bill, our clients voice the fear that 'it...
View ArticleThe Real Estate Professional, Part I
For the past 8 years, the IRS has been cracking down on investors who attempt to use their passive real estate investment losses to offset other income.IRC §467 limits an investor’s ability to use...
View ArticleThe Real Estate Professional, Part II
In Part I, we discussed the special rules regarding real estate investment losses for real estate professionals. We noted that unlimited deductions for real estate losses may be taken only if specific...
View ArticleAcquisition Indebtedness and Home Equity Indebtedness (Voss vs. Commissioner...
Mortgage Interest Limitations under IRC §163(h)(3)Part I: The Personal Mortgage Interest DeductionPart II: Acquisition Indebtedness and Home Equity Indebtedness (Voss vs. Commissioner in the Tax...
View Article
More Pages to Explore .....