Experience. Dedication. Results.
Ohio District Court rejects estate's reasonable cause argument for its late-filed estate tax returnLast week the United States District Court for the Southern District of Ohio issued an opinion finding an estate liable for additions to tax due to the estate's failure...
In her annual report to Congress, Taxpayer Advocate Nina Olsen anticipates that taxpayers will receive the worst level of service since 2001. Citing budget problems of the past five years, Ms. Olson notes the erosion of taxpayer service to individuals coupled with a...
Earlier this week the Tenth Circuit Court of Appeals issued an opinion in Mallo v. IRS, holding that certain income tax liabilities were not discharged in bankruptcy because the taxpayers filed late returns after the IRS had already assessed the taxes. Mallo v. IRS,...
If you have ever thought of becoming an independent contractor, the following are some considerations to make before starting on what is essentially your own business: · Independent contractors can generally choose how often and when they work. · Independent...
The FTB issued over $20 million in refunds to nearly 47,500 taxpayers that were returned to the FTB as undeliverable. The refunds ranged from $1 to $50,000. To see if you are due a refund, following the instructions provided by the FTB. For more information,...
Tamara Ashford, who is currently acting assistant attorney general in the Tax Division of the U.S. Department of Justice, was confirmed as a Tax Court Judge by voice vote.Ms. Ashford is currently Assistant Attorney General of the DOJ's Tax Division. At her Senate...
After years of investigation by U.S. law enforcement authorities, and a plea of guilty for conspiracy, Credit Suisse AG was sentenced on November 21, 2014 for conspiracy to aid and assist U.S. taxpayers in filing false income tax returns and other documents with the...
For decedents dying in 2015, the applicable exclusion amount (or the value of assets a decedent may own without incurring an estate tax liability) is $5,430,000.The annual gift tax exclusion (or the value of assets a donor may gift to each person without incurring a...
Those FI's seeking to obtain QI status to be effective for the calendar year 2014 must submit their Form 14345 and Form SS-4 no later than the close of business December 5th, 2014. All applications received after that date will be effective for calendar year 2015.
On November 17, 2014, the IRS released suggestions to insure successful year-end charitable giving. Please see below for six tips from the IRS, and contact our office at our office if you have any questions. Qualified charities. You can only deduct gifts you give to...
