Innovative Strategies For Tax Controversies, Business Structuring And Estate Planning
IRS temporarily stops mailing some automated collection notices Note: The IRS is not mailing some normal notices to Taxpayers and their tax lawyer because the IRS is behind in processing millions of original and amended tax returns. This problem started in 2020...
The high tax States, including New Jersey, are suing the Federal Government because of the Tax Reform Act. They are arguing the $10k cap on State and Local Taxes is somehow Unconstitutional. They will lose. There is no right to have a Federal Tax Deduction for local...
As a tax attorney, I get frequent calls and emails from people concerned about calls from the IRS.Almost all of these are scams and not real. The IRS post some information on this website about the scammers, but the scammers are too fast in changing their tactics for...
Prohibiting citizens from traveling abroad was the hallmark of many communist countries such as East Germany, the Soviet Union, Cuba, North Korea and China. Now, the US joins this dishonorable crowd by prohibiting travel by American citizens. Specifically, Congress...
Congress refuses to actually simplify the Internal Revenue Code. Since the 1986 tax Reform Act, Congress has passed more than 30,000 amendments to the Internal Revenue Code. Instead of simplification, Congress is now proposing a disguise tax increase for businesses....
Not surprisingly, Hillary Clinton is proposing to increase federal estate taxes from 40% to 45%. Right now, the rate starts at 40% for people who die with an estate, including all assets such as insurance, in excess of $5.45 million. Clinton has repeatedly...
Rev Rul 2016-20 The Applicable Federal Rates for September 2016 are reproduced below. Table 1 Applicable Federal Rates (AFR) for September 2016 Period for Compounding Annual Semiannual Quarterly Monthly Short-Term AFR .61% .61% .61% .61% 110% AFR .67% .67% .67% .67%...
RS LETTER 5043 – NEW WAY IRS ATTACKS SMALL BUSINESS ATTEMPT TO GET “CASH” BUSINESSES The IRS has been pushing for many years to capture cash income of small businesses and force him to pay taxes. That is one of the reasons that the IRS is requiring credit card...
Scam IRS Calls! I am getting many calls from clients and potential clients saying the are getting calls from the “IRS” and are given strange numbers to call. These are scam telephone calls trying to get personal information such as social security numbers, dates of...
The IRS has finally announced that it will stop the automatic issuing of federal tax liens, levies and executions during the government shut down. Unfortunately, many automatic levies have been issued by the IRS and there is no one in the IRS to talk to or negotiate...
