BUSH ATTACKING MEDICAL MALPRACTICE VICTIMS In a typical pandering to the medical profession’s attempt to protect physicians who carelessly harm patients, President Bush is campaigning to stop malpractice victims from recovering for their full losses. Mr. Bush is...
Innovative Strategies For Winning Tax Controversies, Business Structuring And Estate Planning
Month: January 2004
Florida Republicans Hike Taxes
FLORIDA REPUBLICANS HIKE TAXES Although Rebublicans have cut taxes in Florida for the past 5 years, Gov.Jeb Bush and Republican lawmakers are now quietly presiding over Florida’s biggest tax increase in more than a decade. The $133 million automatic tax increase is...
IRS Computer Error Rejects Tax Returns
IRS COMPUTER ERROR REJECTS TAX RETURNS Thousands of electronically filed tax returns were initially rejected in the past few days because of a computer glitch. The problem began January 16, 2004 when the Internal Revenue Service officially opened the channels for...
IRS Continues to Reject Formula Gifts
IRS CONTINUES TO REJECT FORMULA GIFTS In TAM 200337012 (September 12, 2003), the IRS has specifically rejected the effectiveness for gift tax purposes of a clause attempting to make a gift of whatever percentage of interest in a family limited partnership equal to a...
Pres. Bush’s State of The Union Address Advocates Making Tax Cuts Permanent
PRES. BUSH’S STATE OF THE UNION ADDRESS ADVOCATES MAKING TAX CUTS PERMANENT President Bush state that tax cuts had invigorated the economy, and he wants Congress to make permanent the temporary tax reductions passed in 2001 and 2003. Those tax cuts include an...
Revised Form 8332 permits never-married parents to waive child exemption
REVISED FORM 8332 PERMITS NEVER-MARRIED PARENTS TO WAIVE CHILD EXEMPTION IRS has revised Form 8332 (Release of Claim to Exemption for Child of Divorced or Separated Parents) and IRS Pub No. 504 p. 8 (Divorced or Separated Individuals) to permit a never-married...