David Gair

David Gair

Gray Reed & McGraw, P.C.

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Tax Cheats Can Go Wild In Dallas Texas

The Washington Post published an article on April 8, 2015 titled “In Dallas, the IRS says it can’t chase tax cheats who owe less than $1 million.” Here is a section of the article...more

4/17/2015 - IRS Tax Evasion

Could a Cadillac Health Plan Put the Brakes on Obamacare?

The Supreme Court is hearing oral arguments Wednesday, March 4 on certain aspects of the Affordable Care Act. This has the potential to unravel President Barack Obama’s beloved health care plan. Another aspect of...more

3/5/2015 - Affordable Care Act Cadillac Tax Employer Group Health Plans Health Insurance

IRS Telephone Fraud By “Mr. F-#-@-K Y-O-U”

Every year the IRS sends out its “Dirty Dozen” list. This is a compilation of the most prevalent tax scams, with the intent to inform and warn taxpayers of tax related rip-offs. The very first on the list involves...more

2/17/2015 - IRS Tax Scams

Not Paying Your Employment Taxes? Prison Time Could Be In Your Future

It is a very common story for small businesses to get behind on paying employment taxes. Federal employment taxes are largely made up of FICA and withholding taxes. The IRS is especially keen on businesses who fail to pay...more

2/12/2015 - Criminal Prosecution Employer Liability Issues Employment Tax FICA Taxes IRS Withholding Requirements Wrongful Withholding

IRS Computer Technology is Woefully Inadequate

CNN recently released a fascinating look at the computers the IRS uses in “IRS Says It’s Using Technology From JFK’s Time.” IRS Commissioner John Koskinen states that the IRS computer system is “like driving a Model T that...more

2/5/2015 - IRS Technology

How to get the IRS to pay your legal fees

What can you do when the IRS is misbehaving and it directly affects you? You will have to fight them, but the law allows you to recover your litigation costs if you win. As many know, the IRS has had a very...more

1/19/2015 - Attorney's Fees Audits IRS Real Estate Transfers

Want to get paid like Darryl Strawberry?

The IRS is auctioning off a deferred compensation arrangement Darryl Strawberry had with the Mets. Minimum bid is $550,000 for a payment stream that is estimated to be well over $1 million. Get your bid in by January 20th...more

12/23/2014 - Deferred Compensation IRS Personal Property

What You Need To Prove – Deducting Travel Expenses

All too often, people don’t keep adequate records to demonstrate they are entitled to deduct travel expenses. The general rule from the Supreme Court is that deductions are a matter of legislative grace, and taxpayers...more

10/31/2014 - Tax Deductions Travel Travel Expenses

“The Situtation” for Sorrentinos Getting Worse With Social Media

As many have heard recently, Michael Sorrentino (of MTV’s “Jersey Shore” fame) and his brother Marc were indicted for tax crimes in New Jersey and made their initial appearance in court last week. At this point, no one...more

9/30/2014 - Income Taxes Tax Evasion Tax Returns

Does Filing for Bankruptcy Really Give You Tax Relief?

When times get desperate and tax liabilities pile up – filing for bankruptcy is an option many people consider. Taxes are “dischargable” in bankruptcy, but there are important rules you need to know....more

9/2/2014 - Consumer Bankruptcy Income Taxes

Requirements for Alimony – Can it be a good thing?

Divorce is messy, divorce is costly – and it should be avoided wherever possible. Spouses should always attempt to mitigate their losses and one way to do this is to consider designing the divorce settlement to include...more

8/12/2014 - Alimony Divorce

IRS Takes Money From Dead Mom to Pay For Son’s Tax Debt

Most people have some strong feelings about how they want their assets to be distributed upon their death. Some want to give their money to their kids, others are charitably inclined. However, I would guess that very few...more

7/31/2014 - Beneficiaries IRS Tax Liens

Is the Internal Revenue Service Lying?

Do you remember the controversy where the IRS was accused of targeting and unfairly auditing the Tea Party? In an article Sunday from CNN’s Political Ticker by Sara Fischer, the IRS has claimed that it is unable to...more

6/17/2014 - Audits Email IRS Tea Party

Do we really have a “Taxpayer Bill of Rights”?

The IRS announced the adoption of a “Taxpayer Bill of Rights” Tuesday. I have listed the rights below along with my commentary. Just like our U.S. Constitutional Rights, these “rights” are and will be watered down....more

6/12/2014 - Income Taxes IRS Taxpayers' Bill of Rights

Tax And Business Planning For Farmers To Avoid Higher Taxes And Loss Of Subsidies

The Agricultural Act of 2014 (aka - the 2014 Farm Bill) has been controversial, to say the least. Among its many changes are an $8 billion cut to the “food stamp” program. The Farm Bill also drastically modifies or ends...more

5/15/2014 - Adjusted Gross Income C-Corporation Estate Tax Farm Bill Limited Liability Companies Partnerships S-Corporation Subsidies Tax Exemptions Tax Planning

Application For Tax Exempt Status To Be Eased By IRS – Except For The Tea Party

In 2013, the IRS revealed that it had selected ”social welfare” groups (like the Tea Party) applying for tax-exempt status for closer scrutiny. That investigation is still ongoing and it has given the IRS a black eye....more

4/24/2014 - Exempt Organizations IRS Tax Exemptions

New Guidance From IRS On At-Risk Rules For LLC Member Guarantees

The IRS recently released a chief counsel memorandum AM2014-003 on LLC Member Guarantees of LLC Debt and “Qualified Nonrecourse Financing.” These memorandums are very helpful because they provide the IRS’ interpretation of...more

4/17/2014 - Corporate Taxes IRS LLC Non-Recourse Loan

IRS Makes Bitcoins A Tax Headache

The IRS just published Notice 2014-21 which explains the IRS’ vision on how general tax principals apply to “virtual currency” transactions like Bitcoin....more

3/27/2014 - Bitcoins IRS Property Tax Virtual Currency

First Lady Of Tax Fraud

The IRS just issued its Criminal Investigation Annual Report. Budget constraints caused the staffing of Special Agents to drop to the lowest numbers in recent history, but 2013 included a 12.5 percent increase in...more

2/26/2014 - Income Taxes IRS Tax Evasion Tax Fraud

Once You Start Bribing – I Guess It Is Hard To Stop

News came out last week that chiropractor Stephen Jacobs of Lowell, MA is in hot water with the feds. Dr. Jacobs allegedly paid an IRS auditor $5,000 in cash to ignore two deductions he improperly took on this 2011 income...more

2/21/2014 - Auditors Bribery Corruption Fraud Tax Evasion White Collar Crimes

Gentleman’s Club Owner Hit With Fraud Penalty

A new Tax Court decision just came out – Potter v. Commissioner, TC Memo 2014-18. The case involved a “gentleman’s club” owner in Michigan. In December 2006 IRS special agents engaged in an undercover investigation of...more

2/10/2014 - Adult Entertainment Financial Reporting Fraud IRS Tax Fraud Tax Penalties

Crowdfunding And Taxes In Kickstarter: Everybody Wants Their Share

The Crowdfunding movement has moved from an internet e-commerce buzz word to an actual viable way for everyone from the smallest of artists to high profile actors to get funding for a project that otherwise wouldn’t happen. ...more

1/21/2014 - Crowdfunding Income Taxes Kickstarter Startups

How To Choose A Tax Return Preparer? Watch Out For Fraud

It is tax season and it is time to think about getting your taxes done. This time of year is filled will angst for most people....more

1/3/2014 - Fraud Tax Preparers

Tax Exemption For Ministers Unconstitutional?

The Western District of Wisconsin recently issued a decision that makes the parsonage exemption unconstitutional as a violation of the Establishment Clause of the US Constitution. This ruling is controversial and hotly...more

11/29/2013 - Establishment Clause First Amendment Parsonage Exemption Religious Institutions Tax Exemptions

Qualified Domestic Relations Orders: Little-Known Issues Involving Dividend Pass-Through Elections And Same-Sex Spouses

As most family law practitioners are aware, ERISA and the Internal Revenue Code (“IRC”) do not permit a participant in a retirement plan to assign or alienate his/her interest in that plan to another person. These rules are...more

11/21/2013 - ERISA QDRO Retirement Plan Same-Sex Marriage

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