Reassessment for property taxes
Nov 07, 2011
With the current real estate slump it is a good idea to consider making an appeal to your county tax collector to have your property reassessed to its current market value. This can save you literally ...
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Innocent Spouse Claim No Longer Limited to Two Years
Nov 07, 2011
Previously, a taxpayer seeking innocent spouse relief could only request relief from joint and several liability under the Internal Revenue Code for a period of two years. Section 6015 of the Internal ...
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Resolving Unpaid Taxes with the IRS
Nov 04, 2011
You filed your tax returns, but could not come up with the money to pay the tax due. First, you did the right thing filing the tax return(s). To not file is a crime. However, it is not a crime to not p...
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Employee Business Expenses - Can you deduct them on your Personal Income Tax Return?
Nov 03, 2011
An often asked question is whether you can deduct expenses you incur as an employee on your personal income tax return. The answer is maybe. First, you will need to be able to itemize decuctions on Sch...
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So You Received An Audit Notice - Now What?
Nov 02, 2011
So you received an audit notice in the mail - Now what do you do?
It is no secret that the IRS is taking a more aggressive and proactive stance on auditing taxpayers. It comes right down from the Pres...
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Deduction for Business Use of Home
Oct 26, 2011
A Deduction you may have over looked is the business use of your home. You can actually allocate a portion of your home to business usage and take a deduction for it.
As a general rule, you cannot ded...
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Collection Due Process Hearings
Oct 24, 2011
Collection Due Process hearings are a powerful tool in the right situation. They get you in front of an Appeals Officer to discuss your collection issue and they receive priority on the calander of the...
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The IRS Is Putting More Focus on Foreign Financial Institutions, Intermediaries and Taxpayers
Oct 19, 2011
The IRS has set its priorities for the coming year. It is no secret, they are going after those who evade their responsibility to pay their taxes. Foreign banks in bank secrecy jurisdictions have turne...
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Should You Worry About Potential "Clawback" with Regard to Gifts you Make?
Oct 18, 2011
The President signed into law on December 17, 2010 the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. The Act reunified the Gift and Estate Tax when the mazimum tax ra...
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Accountable Plans
Oct 02, 2011
Accountable Plans
Pursuant to IRS Rules:
To be an accountable plan, your employer's reimbursement or allowance arrangement must include all of the following rules.
Your expenses must have a bu...
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