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Stephen J. Dunn

Stephen Dunn’s Legal Guides

14 total


  • Avoiding Discharge of Indebtedness Income

    Suppose you have negotiated settlements of your credit card debts. Or maybe you have executed a short sale of your house. You are concerned about tax on discharge of indebtedness income. The creditor may report the discharge of indebtedness income to the IRS on a Form 1099-C, ...

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  • New Michigan Tax Amnesty Law

    On October 5, 2010, Governor Granholm signed a Michigan tax amnesty bill into law. The new law provides that, from May 15, 2011 through June 30, 2011 (amnesty period), Michigan Treasury shall waive all criminal and civil penalties with respect to a taxpayers failure to timely fil...

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  • Conflicts of Interest in Estate Planning

    Lawyers code of professional responsibility forbids them from handling matters in which they have a conflict of interest. But conflicts of interest are common in legal practice and nowhere are they more common than in estate planning. Here are some examples Ive seen in my 25 year...

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  • Mothers Don't Let Your Daughters Grow Up to be Innocent Spouses

    Suppose that wife does not work in 2010, or that she works but has enough income tax withheld and remitted to taxing authorities to cover income tax on here income. Husband, on the other hand, has $400,000 of self-employment income in 2010. Having paid no estimated taxes, husband...

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  • Tax Resolution Scams Update

    On September 24, 2010 the Federal Trade Commission sued American Tax Relief, LLC, of Beverly Hills, California, (American Tax Relief) and its owners, Alexander Seung Hahn, 43, and his wife, Joo Hyun Park, 37, in the U.S. District for the Northern District of Illinois in Chic...

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  • Bank Deposits, Structuring, and Asset Forfeitures

    Entrepreneurs should not attempt to keep their cash bank deposits under $10,000, lest they run the risk of seizure of their bank balance by the Federal government. Introduction This is a version of an

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  • IRS Lowers Bar For Offers In Compromise

    The offer in compromise program was long a dead letter. But the IRS recently breathed new life into the program by markedly lowering the bar for acceptance of offers. The IRS is even accepting offer

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  • Whom Should You Use For Help In A Tax Case?

    CPAs are not trained to represent taxpayers in tax cases. Enrolled Agents can handle low-level, non-litigated matters. An experienced tax litigation attorney is best able to represent a taxpayer in

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  • To OVDP Or Not To OVDP: Compliance Options For Holders Of Foreign Accounts

    Recently-announced IRS procedures encourage taxpayers to comply with U.S. law concerning foreign accounts. Offshore Voluntary Disclosure Program ("OVDP") Taxpayers who failed to timely report foreign

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  • Federal Seizure and Forfeiture of Entrepreneurs' Bank Balances

    Entrepreneurs should not trey to keep their cash banking transactions under $10,000. Federal Government Against Entrepreneurs' Bank Balances The Internal Revenue Service is seizing entrepreneurs’ bank

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