Given the recent expiration of the IRS’s People First Initiative on July 15, the return of IRS employees to offices and service centers, and this news release reminding taxpayers that collection activities would start...more
At various points in time, the IRS offers “initiatives” to assist businesses and individuals with various tax issues. Most often these initiatives offer favorable terms or inducements to a class of taxpayers with respect to...more
Section 212(3) of the Internal Revenue Code [Code] provides in pertinent part: “In case of an individual, there shall be allowed as a deduction all the ordinary and necessary expenses paid or incurred during the taxable year...more
The Internal Revenue Service (Service) on March 23, 2016, issued Revenue Procedure 2016-22 which clarifies and describes the practices for the administrative appeals process in cases docketed in the United States Tax Court...more
All correspondence from the Internal Revenue Service should be taken seriously; however, some letters and notices have more legal consequences than others....more
Taxpayers and representatives need to be mindful that the IRS Appeals Office has implemented what is known as the Appeals Judicial and Culture (AJAC) Project....more
As the April 15th filing deadline approaches, there are important changes to note. When the U.S. Supreme Court struck down the Defense of Marriage Act (DOMA) on June 26, 2013, a number of important tax issues were raised...more
Charitable contributions are only deductible if you itemize and have the proper substantiation.
For cash contributions of less than $250, you must have either a cancelled check/credit card receipt or a written...more
The Internal Revenue Service has launched a new application which gives taxpayers the ability to directly view, print, and download tax return transcripts and account transcripts. ...more
There are a lot of ways to get into hot water with state and federal revenue regulators. But, in my experience, three mistakes are most common.
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