Newport Beach, CA
Tax Lawyer at Newport Beach, CA
Practice Areas: Tax, Estate Planning
On December 17, 2010 President Obama signed into law a new Tax Act, The Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010 (The 2010 Tax Relief Act). This Act was a surpri...
See Full GuideThe IRS has just sent out a news release that they will give taxpayers a "fresh start" with their Direct Debit Installment Agreements ("DDIA"). To give taxpayers an incentive to enter the program, the ...
See Full GuideRecourse v. Non-Recourse Debt in California A big question that arises in California these days is whether the debt on your real estate is recourse or non-recourse. The difference can be quite...
See Full GuideIf you have been involved in an audit you will receive a Notice of Examination Changes from the agent. This is also known as a "30 Day Letter" by practitioners because you have 30 days in which to resp...
See Full GuideWhen you owe the IRS money for taxes they can file a federal tax lien. The lien arises when you are liable to the IRS for any failure to pay federal taxes when they are due after the government has mad...
See Full GuideIf you receive a Statutory Notice of Deficiency from the Internal Revenue Service you have limited options that you must act on quickly before the amount indicated on the notice becomes an assessed lia...
See Full GuideIf you have cancellation of debt income you do not have to include the debt in income to the extent that you are insolvent at the time immediately before the cancellation of debt. Insolvent immediately...
See Full GuideDispositions Other Than Sales If your home is disposed of other than in a traditional sale, such as in a foreclosure, or short sale - special rules will apply. The IRS still considers this disposition...
See Full GuideUnder Federal law if a loan is non-recourse as determined by state law, it is not includable in income due to cancellation of debt. If your debt is cancelled it is considered income because when you to...
See Full GuideRemember how there was no estate tax in 2010? Well, on December 17, 2010 President Obama signed into law a new estate tax. The tax will apply to estates for decedents that die in 2011. The good news is...
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