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taxgirl

Covers corporate, non-profit, estates, individual or international taxes. By Kelly Erb.

http://www.taxgirl.com/

Nov 20
Fix the Tax Code Friday: Pay Per Mile Tax

It's Fix the Tax Code Friday! This week, there has been a lot of discussion across the internet about "going Dutch" a la the pay-per-kilometer system recently passed in Amsterdam. So today's Fix the Tax Code Friday question is: Should the US consider a pay-per-mile tax system to pay for roads and other infrastructures? If your answer is no, would that change if the US adopted the Dutch policy of abolishing the current road taxes and sales taxes for cars in exchange for the pay-per-mile... Posted on November 20, 2009 at 02:04 pm by Kelly
Nov 19
Tax Update Blog: ‘Cheat’? I don’t think the word means what they think it means.

Great piece by Joe Kristan at Roth & Company PC about FBAR reporting&#xe2€&#xa6 Tax Update Blog: 'Cheat'? I don't think the word means what they think it means.: "" Similar Posts: Ask the taxgirl: Foreign Accounts and FBAR Ask the taxgirl: Oh Canada! Ask the taxgirl: FBAR and Power of Attorney Fix the Tax Code Friday: Foreign Accounts Posted on November 19, 2009 at 09:19 am by Kelly
Nov 19
Ask the taxgirl: Do I Need a Form 1099?

Taxpayer asks: Several elderly friends have asked me to help them with administratrive work in there home. I would probably do this on an ongoing basis and I am sure each would end up paying me more that $600 a year. I would report all of this money (Schedule C I think) but am concerned for the people I would be doing the work for. Do they have to issue a 1099 for the work I would do for them? Could I just report the money quarterly without ever getting a form from them and have it be legal, I... Posted on November 19, 2009 at 05:32 am by Kelly

Rank This Week: 13

Texas State & Local Tax Law...

Texas State & Local Tax Law Blog

Covers aircraft taxation, franchise tax, property tax, sales and use tax, school finance litigation and tax reform. By Alan E. Sherman.

http://www.txsaltlaw.com/

Jul 10
The Texas Supreme Court won't review two recent tax cases

Today's Orders from the Texas Supreme Court denied taxpayer petitions for review in two tax cases. The first denial was in a sales tax case, Reynolds Metals Company v. Combs, et al., originally decided by the Third Court of Appeals on February 4th and discussed on this site in a post captioned "The legislative acceptance doctrine won't always defeat a Comptroller policy." The Court later withdrew its original opinion and substituted its April 8th Memorandum Opinion on Rehearing (reachable by... Posted on July 10, 2009 at 10:30 am by Alan E. Sherman
Mar 19
Be careful when amending a statement of grounds in a refund proceeding

There are many good reasons for amending a statement of grounds in an administrative refund proceeding. For instance, an amendment might be necessary to preserve claims that would otherwise be lost following an impending law change. That was apparently the reason why an amended statement of grounds was filed in the Comptroller of Public Accounts' decision in Hearing No. 44,870 (2008), State Office of Administrative Hearings (SOAH) Docket No. 304-07-2182.27 (decided last March but only recently... Posted on March 19, 2009 at 05:00 am by Alan E. Sherman
Mar 10
Tomorrow's Ways & Means Committee hearing will cover property tax proposals

The House Ways & Means Committee is scheduled to hold a public hearing tomorrow in Room E2.010 in the Capitol beginning at 10:30 a.m. or upon final adjournment or recess of the House chamber session. According to the Notice of Public Hearing, tomorrow's hearing will consider numerous bills and associated constitutional amendments affecting local ad valorem (property) taxes. Most of those items involve proposals to increase the residential homestead exemption; however, one bill and its... Posted on March 10, 2009 at 05:00 am by Alan E. Sherman

Rank This Week: 58

The Journal of the Business Law...

The Journal of the Business Law Society

Covers recent developments affecting business law . By the students of the University of Illinois College of Law.

http://www.law.uiuc.edu/bljournal/

Nov 8
Be Careful, They’re Unpaid Interns: Is the NCAA and its Member Schools Unfairly Profiting From the Likenesses of Its Athletes?

I. Introduction We hear the debate all the time. Some sports writer will call for college athletes to be paid.[1] Another will rebut that they are given hundreds of thousands of dollars in college tuition, books and housing.[2] This debate is surely to drag out as long as there are intercollegiate sports, no matter what the rule on the NCAA's books is either way. As it stands, the NCAA and its member schools profits by selling the publicity rights of its athletes to video gaming companies, as... Posted on November 8, 2009 at 12:25 pm
Nov 5
Implications of the Genetic Information Nondiscrimination Act (GINA) on Professional Sports

I. Introduction The sports business industry is one of the largest and fastest growing industries in the United States. In fact, the Sports Business Journal estimates the size of the sports business industry to be $213 billion in the United States alone. [1] Furthermore, sports business law is a dynamic field of law with new issues arising on an almost daily basis due to courts decisions, new legislation, and regulation. [2] One piece of new legislation, the Genetic Information... Posted on November 5, 2009 at 03:59 pm
Nov 3
Deficient in Deficiencies: The Potential Effects of the Refusal to Uphold Full-Recourse, Residential Real Estate Loans

I. Introduction Foreclosures have taken on a new significance in the last few years as a result of the financial crisis. This has the led the finer points of the foreclosure proceedings to become extremely important for many lenders, and for many borrowers in default. One potentially important practice is the oft-rumored, but rarely documented routine of certain judges to simply refuse to grant any deficiency judgments in personal foreclosures. Cases have been brought before higher courts... Posted on November 3, 2009 at 03:06 pm

Rank This Week: 80

Pension Protection Act Blog

Discusses PPA's impact on ERISA and qualified retirement plans. By Suzanne L. Wynn.

http://qualifiedpensionconsulting.com/ppablog

May 14
Annual Limitation on Deductions for Health Savings Accounts for 2010

Today, the IRS released Revenue Procedure 2009-29 containing the inflation adjusted amounts for Heath Savings Accounts (HSAs) as determined under Code section 223 for 2010. For calendar year 2010, the annual limitation on deductions under Code section 223(b)(2)(A) is $3,050 for an individual with self-only coverage under a high deductible health plan. For an individual with family coverage under a high deductible health plan, the annual limitation on deductions under Code section 23(b)(2)(B)... Posted on May 14, 2009 at 08:43 pm by Suzanne Wynn
May 13
DOL and SEC Schedule Joint Hearing on Target Date Funds

The Dept. of Labor and the Securities and Exchange Commission have announced a joint one-day hearing on target date or lifecycle funds and other investment options. The hearing is scheduled for June 18, 2009. It will be held at the Dept. of Labor, 200 Constitution Ave NW, Washington, D.C. The press release from the DOL and SEC which announced the hearing states that witnesses will include representatives of plan participants and beneficiaries, plan sponsors, investor organizations, academia and... Posted on May 13, 2009 at 08:35 pm by Suzanne Wynn
May 6
Disabled by AIDS in 1994 Does Not Mean Still Disabled in 2006 According to 7th Circuit

/**/ If a condition is grave enough to warrant disability in 1994, why isn't it sufficient to warrant disability in 2006? The 7th Circuit Court of Appeals addressed this question in Jenkins v. Price Waterhouse Long Term Disability Plan, No. 06 C 603 (May 4, 2009). In 1994, Charles Jenkins started receiving long-term disability benefits under Price Waterhouse's plan. In 1988, he had tested positive for HIV. In 1989, when he was 27 years old, he started working for Price Waterhouse. By the end of... Posted on May 6, 2009 at 08:26 pm by Suzanne Wynn

Rank This Week: 195

TaxProf Blog

By University of Cincinnati Law Professor Paul L. Caron and Ron Jones.

http://taxprof.typepad.com/taxprof_blog/

Nov 22
TaxProf Blog Weekend Roundup

Saturday: Tax Notes to WaPo: "We Are Not an 'Obscure' Journal" Madoff: Estate Tax Reform to Protect Family Farms and Business ($10m Exemption), Not Wealthy Heirs ($1-2m Exemption) IRS Issues Rules Implementing 5-Year NOL Carryback Federal Judicial Clerkship Applications Up 66% Closing the Tax Gap: Encouraging Voluntary Compliance Through Mass-Media... Posted on November 22, 2009 at 09:39 pm by Paul Caron
Nov 22
Can Government Extend Statute of Limitation in Tax Shelter Cases Because of Iraq and Afghanistan Wars?

Jack Townsend asks: Is the Criminal Statute of Limitations Suspended Under the Wartime Suspension Act?: There are rumors that the government in a tax shelter case is seeking to suspend the criminal statute of limitations under the "wartime suspension act", 18 U.S.C. &#xc2&#xa7 3287. ... The concern, of course, is... Posted on November 22, 2009 at 09:00 am by Paul Caron
Nov 22
Top 5 Tax Paper Downloads

This week's list of the Top 5 Recent Tax Paper Downloads is the same as last week's list. The #1 paper is now the #30 tax paper in all-time downloads out of 6167 tax papers: 1. [1209 Downloads] To Roth or Not to Roth: Analyzing the Conversion Opportunity for 2010... Posted on November 22, 2009 at 08:12 am by Paul Caron

Rank This Week: 211

Rubin on Tax

Covers tax and legal issues relating to federal and Florida tax, estate planning, probate, and business matters. By Charles Rubin.

http://rubinontax.blogspot.com

Nov 22
IRS ALLOWS TAXPAYER TO COMBINE ACQUISITION INDEBTEDNESS AND HOME EQUITY INDEBTEDNESS

The Internal Revenue Code does not allow deductions for "personal interest." Nonetheless, qualified residence interest, which includes interest on acquisition indebtedness and home equity indebtedness on a qualified residence, is deductible. Generally, acquisition indebtedness is deductible only on the first $1 million of acquisition indebtedness. Home equity indebtedness is generally deductible on $100,000 of home equity indebtedness. What happens if a taxpayer borrows $1.1 million to buy a... Posted on November 22, 2009 at 11:16 am by Charles Rubin
Nov 19
APPLICABLE FEDERAL RATES – DECEMBER 2009

Posted on November 19, 2009 at 10:39 am by Charles Rubin
Nov 11
ORDINARY INCOME ON SURRENDER OF LIFE INSURANCE POLICY

Borrowing from a life insurance policy is a tax-advantaged method of obtaining funds. Generally, a policy owner can borrow against the cash surrender value of non-term life insurance policies. The receipt of the loan proceeds is not a taxable event to the owner, even though part of the cash surrender value was created by untaxed earnings that accumulated in the life insurance policy. If the owner dies while the loan is outstanding, the owner does not typically have to repay the loan, although... Posted on November 11, 2009 at 10:23 am by Charles Rubin

Rank This Week: 241

Covers topics such as sales and payroll tax problems, offers in compromise, tax audits, tax debt, tax disputes, tax fraud, tax litigation and tax controversy, and tax preparer penalties. By Los Angeles, California attorneys, Brager Tax Law Group.

http://www.taxproblemattorneyblog.com/

Oct 5
Offshore Tax Havens, Tax Fraud and Senator Carl Levin

I lifted my nose up from filing Foreign Bank Account Reports (FBARs), talking to clients with offshore financial accounts, and filing for tax amnesty under the IRS Offshore Voluntary Disclosure program long enough to notice a speech that Senator Carl Levin had given in mid-September on the topic of offshore tax havens. Senator Levin has been battling against tax fraud committed through the use of offshore financial accounts for many years, and in the last year or two his ideas have been gaining... Posted on October 5, 2009 at 12:43 pm by Dennis N. Brager
Oct 1
IRS FBAR Tax Amnesty is a Good Gamble (Part II)

Yesterday I started a blog post subtitled Why 70% of a Foreign Bank Account Is Better Than 100% of No Foreign Bank Account. It included three reasons why, if you have offshore financial accounts, filing for tax amnesty by the Oct. 15th may be a good idea. It doesn't matter if your offshore bank account is at UBS, or some other foreign financial institution. Today I have listed three more reasons: 1. Legally "Launder" Your Offshore Funds. If your money is an offshore financial account it is... Posted on October 1, 2009 at 11:44 am by Dennis N. Brager
Sep 30
IRS FBAR Tax Amnesty is a Good Gamble

Why 70% of a Foreign Bank Account Is Better Than 100% of No Foreign Bank Account (Part I) Clients sometimes ask why they should take advantage of the IRS Offshore Voluntary Disclosure Program. In it's frequently asked questions regarding offshore financial accounts the IRS provided an example of what could happen to someone with a foreign bank account of $1million in 2003 that earns $50,000 per year who hasn't filed Foreign Bank Account Reports, TD F 90-22.1 (FBAR). That person could, if they... Posted on September 30, 2009 at 06:18 pm by Dennis N. Brager

Rank This Week: 244

Corporate Securities Law Blog

Focuses on complliance, corporate governance, disclosure, mergers and tax issues. By Sheppard Mullin.

http://www.corporatesecuritieslawblog.com/

Nov 19
IRS Issues Final Regulations Regarding Annual ISO/ESPP Reporting Requirements

The Internal Revenue Service (the "IRS") has issued final regulations regarding the information return and information statement requirements under Section 6039 of the Internal Revenue Code. Section 6039 was amended in 2006 to require corporations to file an information return with the IRS (the "Return") and furnish a written information statement (the "Statement") to each employee who exercises incentive stock options ("ISOs") or sells or otherwise transfers shares acquired under an employee... Posted on November 19, 2009 at 09:44 am
Oct 27
Federal Government Fires More Salvos At Executive Compensation

The federal government's extraordinary multi-pronged attack against executive compensation practices took another step forward, this time with the Federal Reserve Board of Governors ("FRB") taking aim. On October 22, 2009, the FRB proposed new guidance that will dramatically affect incentive compensation arrangements for the banking industry. The proposed guidance is consistent with and largely patterned after the multi-national Financial Stability Board's September 25, 2009 report titled "FSB... Posted on October 27, 2009 at 05:30 pm
Oct 13
Second Circuit Reverses Order Disqualifying Defense Counsel In Suit Over Demutualization Of Insurance Company

In Murray v. Metropolitan Life Ins. Co., No. 09-3716-CV, 2009 WL 3080462 (2d Cir. Sept. 29, 2009), the United States Court of Appeals for the Second Circuit reversed an order by the district court disqualifying defense counsel for a life insurance company in an action alleging fraud in connection with the demutualization of defendant life insurance company. The Court held that the law firm did not have an attorney-client relationship with the policyholders (plaintiffs) by reason of counsel's... Posted on October 13, 2009 at 12:25 pm

Rank This Week: 307

Tax Updates

By Roth & Co.

http://www.rothcpa.com/taxupdates.php

Nov 18
Film Credits win first courtroom battle

A Polk County judge told Iowa that it will have to give up to $6.5 million to a Canadian film... Posted on November 18, 2009 at 06:00 am by Joe Kristan
Nov 18
What part of 'no!' does the city manager not understand?

Headline in today's Des Moines Register: Could local-option tax give Des Moines metro area a lift? The Des Moines City... Posted on November 18, 2009 at 05:53 am by Joe Kristan
Nov 18
Should taxpayers get paid for being audited?

Mary O'Keeffe thinks maybe so; Peter Pappas thinks not. It probably is unwise to compensate for normal audits. They're a... Posted on November 18, 2009 at 05:48 am by Joe Kristan

Rank This Week: 318

Taxable Talk

Covers estate taxes, payroll taxes, sales taxes, tax evasion and tax fraud. By Russ Fox.

http://www.taxabletalk.com/

Oct 1
An Interesting Gambling Case

With the blog move still in limbo (the posts have been moved to the new site but appear written, for the moment, in invisible ink) here's one last post at the... Posted on October 1, 2009 at 03:10 pm by Russ
Sep 25
Important Blog Issues

I will be moving the blog over the next few days. This means that it is possible that we'll be down, and it's almost certain that there will be no posting... Posted on September 25, 2009 at 09:09 pm by Russ
Sep 23
We're Still #3!

As I prepare to head to Sacramento for a conference, the Bronze Golden State found that it held fast this past year as the third worst business tax climate in the... Posted on September 23, 2009 at 07:09 am by Russ

Rank This Week: 323

Tax Info Blog

Covers taxes. By Ryan Ellis & Associates.

http://taxplaya.typepad.com/tax_playa/

Mar 10
The End of Tax Info Blog

As you can tell from the date posts on this blog, I haven't updated in awhile. After months of telling myself I would, I just don't think I'm going to be able to consistently deliver content. Between the day job, the tax business, and my growing family, I no longer have the time. Feel free to contact me at taxplaya@gmail.com with any questions. Any clients reading this, I'm of course still going to do the tax business. Posted on March 10, 2009 at 01:17 pm by Ryan Ellis
Sep 15
Glut of Posts Will Be Up Later This Week

Sorry I've been slow to post--lots going on moving-wise. Posted on September 15, 2008 at 11:09 pm by Ryan Ellis
Sep 2
Moving Expense or Medical Expense?

Q: I have to move from my second floor condo to a ground floor because the steps are too much for me as I have a medical issue. Are my moving expenses tax deductible ? What if I were to install an elevator? Mary Kate A: As a moving expense, no way. For one thing, it doesn't even pass the distance test. However, not all is lost. It sounds to me like the elevator might be a deductible medical expense. Here's what IRS Publication 502, "Medical Expenses" has to say... You can include in medical... Posted on September 2, 2008 at 03:39 pm by Ryan Ellis

Rank This Week: 327

IRS Problem Solver Blog

Covers IRS problems and how to solve them. By Darrin Mish.

http://www.getirshelp.com/irsblog

Nov 22
Of Deductions and Refunds

New Deductions When you buy a new car, light truck, motorcycle or motor home between February 16th this year and January 1st 2010, you are entitled to a special sales tax deduction as part of the economic stimulus package signed into law by President Obama. This law also provides for the deduction of other taxes and fees paid in states that do not impose any sales tax. This deduction is available to you regardless of whether you itemize your deductions on Schedule A. You may take the deduction... Posted on November 22, 2009 at 05:15 am by Darrin Mish
Nov 21
Should Mobile Phone Use be Taxed?

When you receive a mobile phone for work purposes from your employer, it is not uncommon for you to make and receive personal calls on such a phone. You might not be aware of it, but there is a little-known law that requires taxpayers to pay taxes when using mobile phones provided by their employers for personal use. In 1989, the IRS listed the mobile phone as 'taxable' listed property and the law at that time stipulated that if there are no records of business and personal calls made on a... Posted on November 21, 2009 at 04:15 am by Darrin Mish
Nov 20
What Offshore Bank Accountholders Must Do

Now that the IRS and UBS bank of Switzerland have settled their feud, it is time to understand exactly what their settlement entails and how it affects you. If you are an American with an offshore bank account whether in Switzerland or any other country, you need to listen up. This is what the actual settlement is. The US government has entered into 2 agreements, one with the Swiss government and the other with UBS bank. Under the agreements, the US government will submit a request to the Swiss... Posted on November 20, 2009 at 03:15 am by Darrin Mish

Rank This Week: 329

Waller Blog

Offers insights on current business and legal issues in the areas of executive cmpensation and the healthcare industry. By Waller Lansden Dortch & Davis.

http://blog.wallerlaw.com/

Aug 29
Recent OIG Advisory Opinion Calls Proposed Arrangement Between Physician Groups Potentially Illegal

By Kim Harvey Looney In its Aug. 26, 2008 Advisory Opinion, No. 08-10, the Department of Health and Human Services Office of Inspector General (OIG) said a proposed relationship between two physician groups potentially violates the anti-kickback statute. The block lease arrangement called for one group to provide space, equipment and personnel to another physician group. For more information, please see the Waller Lansden bulletin at this link. Posted on August 29, 2008 at 08:56 pm by Waller Lansden Blog
Aug 27
Liquidity and Healthcare 2008: Part 4

By Bobby Guy We've discussed the importance of early intervention for struggling healthcare companies in the current market. Who are the major players in the healthcare field when it comes to financial advisory and turnaround management services? Managers should have this list, because hiring a good financial advisor is often more important to improving performance. Indeed, while lawyers are often good referral sources for financial advisory firms, hiring an experienced financial advisor is... Posted on August 27, 2008 at 08:13 pm by Waller Lansden Blog
Aug 19
Liquidity and Healthcare 2008: Part 3

By Bobby Guy If there are only six strategies for a struggling healthcare company to overcome financial difficulties, what is most important implication? Simply this: the survival of a struggling company is directly related to its ability to recognize and respond to the struggle early. The later the intervention, the less likely a struggling healthcare company is to survive. Management teams need to be on top of company finances while there is still money (and therefore resources) to fix the... Posted on August 19, 2008 at 07:54 pm by Waller Lansden Blog

Rank This Week: 428

California Tax Attorney Blog

Covers tax controversies involving the IRS and California Franchise Tax Board, as well as California probate, estate planning matters and business transactions. By Mitchell A. Port.

http://www.californiataxattorneyblog.com/

Nov 19
California Tax Service Center

The Internal Revenue Service and California's tax agencies (Franchise Tax Board, Employment Development Department and Board of Equalization) have formed a partnership called the Joint Tax Agency Communications Committee. The mission of the committee is to "speak with one voice" where feasible with regards to tax issues and to enhance education and outreach efforts by leveraging resources. The website is: California Tax Service Center. These tax agencies have joined together to streamline and... Posted on November 19, 2009 at 04:31 am
Nov 17
California Probate May Be Avoidable

Funding your California living trust with your property while you are alive results in the direct transfer to heirs and beneficiaries when you die without the time and expense of a probate proceeding. There are times when people don't include all of their property in their living trust before they die. When this happens, a simpler type of probate referred to as a Heggstad petition may be available for the California property left outside of the trust that should have been in the trust but for... Posted on November 17, 2009 at 03:42 am
Nov 13
SCINs, GRATs and IDGTs

"The Intelligent Investor" published in the October 3, 2009 Wall Street Journal says that "... with yields near lows, now is the time to stop moaning about the lack of income and to start turning rock-bottom interest rates to your advantage." The article discusses self-cancelling installment notes (SCINs), grantor retained annuity trusts (GRATs) and intentionally defective grantor trusts (IDGTs). These techniques, when used properly, move assets out of your estate at discounted prices so that... Posted on November 13, 2009 at 03:50 am

Rank This Week: 432

IRS-Hitman

Covers IRS tax problems. By Richard Close.

http://irs-hitman.blogspot.com/

Nov 20
IRS Tax Debt: Put the Collections Machine on Hold and Get More Time To Pay

Procrastination: Don't procrastinate with the IRS. You may have received some notices in the mail. They may not look important, but they are. And if your put your dead off long enough, the IRS can unleash it's weapons of collections on you. Automated Collections 101: If you ignore the notices the IRS mails you, your account is sent to the Automated Collections System (ACS). This is the area of the IRS that can Seize your assets, Levy your Bank accounts, and Garnish your wages. Buying Time: If... Posted on November 20, 2009 at 06:04 am
Nov 19
Aaron Carter Owes $ 1 Million in IRS Tax Debt

Yet another celebrity owes IRS Tax Debt... This time it's Aaron Carter, a 21-year-old former Dancing With the Stars Contestant and younger brother of Backstreet Boy member Nick Carter. According to court documents, Aaron Carter owes more than $965,000 from 2003 alone. An additional $45,350.11 is also owed from income earned in 2006. In a statement, Carter's manager Johnny Wright states: "It is unfortunate that while Aaron was a minor, his finances were grossly mismanaged by his previous team... Posted on November 19, 2009 at 07:04 am
Nov 18
You May Owe the IRS Unexpectedly Come Tax Time

Breaking News: Several million Americans will be in for a shock this upcoming tax season. The Treasury Department bill that was designed to stimulate our dire economic condition could hurt your wallet when it's time to pay taxes. You may have noticed that your paycheck have increased. This was due to the fact that the government lowered federal withholding. But for some, the lowered withholding amount will cost money when tax time rolls around. The Numbers: A new study released by the Treasury... Posted on November 18, 2009 at 07:32 am

Rank This Week: 672

Tax & Business Law Commentary

Comments on tax and business law developments. By Stuart Levine.

http://taxbiz.blogspot.com

Jan 19
Whips and Chains?

The following question was posed on the Maryland State Bar Association's Small and Solo Practice listserv discussion group: Hello List, First let me start by saying I hope my question doesn't offend anyone but I wanted to hopefully find someone who could point me in the right direction. I had a potential client call today and ask me to draft a "Domination Contract." I had no idea what that was until the client explained that she has been requested to be a Dominatrix by someone else and she... Posted on January 19, 2007 at 03:48 am by Stuart Levine
Jan 13
Original Intent on Representing the Unpopular

In 1770, a prominent Boston lawyer represented the Capt. Thomas Preston and the British soldiers after the Boston Massacre. They were immensely unpopular. This account of that lawyer's recollection of his retention for the defense was posted on October 20, 2006, on the blog, Boston 1775: The next Morning I think it was [i.e., 6 March 1770], sitting in my Office, near the Steps of the Town house Stairs, Mr. [James] Forrest came in, who was then called the Irish Infant. I had some Acquaintance... Posted on January 13, 2007 at 03:16 am by Stuart Levine
Jan 11
Housekeeping

This post is just to clear a problem between Blogger and Bloglines. Posted on January 11, 2007 at 12:42 pm by Stuart Levine

Rank This Week: 791

MauledAgain

Covers tax law, legal education, the First Amendment, religion, and law generally. By Villanova law professor James Edward Maule.

http://mauledagain.blogspot.com

Nov 20
The Devil’s in the Tax and Spending Details

On Wednesday, in The Math of Tax and Spend, I noted that "The world continues to wait for an answer to the question, 'So if state taxes are cut, what spending programs should be reduced or eliminated?' I had asked that question in New Jersey to Follow in California's Tax Footsteps?. It seems I'm not the only one with this question. It was posed to one of the candidates in the Republican primary campaign for U.S. Senator from Florida. Mario Rubio is challenging Charlie Crist, currently governor... Posted on November 20, 2009 at 12:01 am by James Edward Maule
Nov 18
The Math of Tax and Spend

The world continues to wait for an answer to the question, "So if state taxes are cut, what spending programs should be reduced or eliminated?" This is a question I asked a few weeks ago in New Jersey to Follow in California's Tax Footsteps?. At the federal level, there are two additional choices not available to the states, namely, deficit spending and printing money. States, though, need to cut spending if they cut taxes. The latest show in the "cut taxes" parade took place in Harrisburg last... Posted on November 18, 2009 at 12:01 am by James Edward Maule
Nov 16
Who Appreciates This Tax Complexity?

Last week, in Partnership Taxation, I alerted students to the trap that exists in section 751 and the need for them to be very careful when dealing with the identification of partnership assets subject to section 751. There is a wrinkle that seems to serve no purpose other than to confuse taxpayers, tax practitioners, and tax students. Some background is helpful. When a partner "sells" a partnership interest for tax purposes, the tax law (section 751(a), to be specific) treats the gain or loss... Posted on November 16, 2009 at 12:02 am by James Edward Maule

Rank This Week: 903

Wisconsin Estate Planning and Tax...

Wisconsin Estate Planning and Tax Law Blog

Commentary on estate planning, tax law, and elder law. By Nathan J. Dosch.

http://www.wisconsinestateandtaxblog.com/

Oct 22
Widespread Fraud and Abuse of First Time Home Buyer Tax Credit

This item can probably best be filed under the category, "News We Expected." As reported by the Wall Street Journal online in "Tax Credit Abuse and the Four-Year-Old Home Buyer" the Inspector General for Tax Administration, Russell George, testified before Congress today in regards to fraud and potential abuse of the home buyer tax credit. Mr. George testimony comes at a time when the current home buyer tax credit is set to expire in less than 6 six at the end of November and with the real... Posted on October 22, 2009 at 12:48 pm by Nathan Dosch
Oct 22
The Other Shoe Has Dropped on Executive Pay

The Obama Administration pay czar, Kenneth Feinberg, has made it known that he will require each of the seven largest bailout recipients to reduce the total compensation for their top 25 highest paid employees by 50%, on average. These rules affect the likes of AIG, Citigroup, and Bank of America. The New York Times article, "Curbing Wall Street Pay, and the Corporate Boards that Set it," provides additonal overview and commentary on the topic. It will be interesting to see how this news is... Posted on October 22, 2009 at 10:39 am by Nathan Dosch
Aug 12
Cost of Government Day - 2009

For that last couple of years I have kept an eye out for the Cost of Government Day as calculated by the Americans for Tax Reform Foundation and the Center for Fiscal Accountability. The Cost of Government Day 2009 Report is now available. Today, August 12, 2009, is this years Cost of Government Day. This is 26 days later than 2008. I am sharing this report and link because it is an interesting look at the current tax and government landscape in the U.S. The overall views expressed in the... Posted on August 12, 2009 at 05:28 pm by Nathan Dosch

Rank This Week: 919

Section 1031 Tax Deferred...

Section 1031 Tax Deferred Exchanges Blog

Discusses Section 1031 of the Internal Revenue Code, which deals with tax deferral of profits from investment property or property used in a trade or business. By Stephen A. Wayner.

http://www.blog1031.com/blog1031com/

Sep 21
YOU DON'T HAVE TO BE RICH TO BE AUDITED BY IRS

The following is an excerpt from an article that appeared in the April 2009 issue of Smart Money--it confirms what I already knew--"The IRS's job is to enforce the tax laws enacted by Congress and to collect what's due. Its primary weapon? the Audit, whose use has more than doubled since 2000, to surpass 1 percent of all returns, according to the Transactional Records Access Clearinghouse, a Syracuse University data-research organization. The increase can be attributed to the rising number of... Posted on September 21, 2009 at 03:24 am by Stephen A. Wayner, Esq., C.E.S.
Sep 21
YOU DON'T HAVE TO BE RICH TO BE AUDITED BY IRS

The following is an excerpt from an article that appeared in the April 2009 issue of Smart Money--it confirms what I already knew--"The IRS's job is to enforce the tax laws enacted by Congress and to collect what's due. Its primary weapon? the Audit, whose use has more than doubled since 2000, to surpass 1 percent of all returns, according to the Transactional Records Access Clearinghouse, a Syracuse University data-research organization. The increase can be attributed to the rising number of... Posted on September 21, 2009 at 03:24 am by Stephen A. Wayner, Esq., C.E.S.
Sep 17
ARE THERE DIFFERENT TYPES OF SECTION 1031 EXCHANGES? THE SIMPLE ANSWER IS YES !!

The Federation of Exchange Accommodators explains: What are the different types of exchanges? Simultaneous Exchange: The exchange of the relinquished property for the replacement property occurs at the same time. Delayed Exchange: This is the most common type of exchange. A Delayed Exchange occurs when there is a time gap between the transfer of the Relinquished Property and the acquisition of the Replacement Property. A Delayed Exchange is subject to strict time limits, which are set forth in... Posted on September 17, 2009 at 03:20 am by Stephen A. Wayner, Esq., C.E.S.

Rank This Week: 1065

Talking Taxes

Discusses federal, state and local tax reform, with an emphasis on fair and adequate taxation. By the Citizens for Tax Justice.

http://www.ctj.org/blog/

Aug 7
Federal Home-Buyer Tax Credit Prompts Cheating

In today's Washington Post, Kenneth Harney reports evidence that some people are falsely claiming the new federal income tax credit for first-time homeowners. Two quick thoughts. First, the question of whether incentives for first home purchases are a good idea. Gonna say no: The benefits aren't necessarily going to buyers-- in some markets, sellers will just increase their asking prices to factor in the value of the credit. Moreover, plenty of better-off people who are getting this credit... Posted on August 7, 2009 at 09:07 pm
Jun 16
Why Won't the Obama Administration Accept Taxing Employer-Paid Health Premiums?

Barack Obama's fiscal policy platform as a presidential candidate was hardly a profile in courage, but he had his moments. This, however, was not one of them: "For the first time in American history, [John McCain] wants to tax your health benefits. Apparently, Senator McCain doesn't think it's enough that your health premiums have doubled, he thinks you should have to pay taxes on them too. That's a $3.6 trillion tax increase on middle class families. That will eventually leave tens of millions... Posted on June 16, 2009 at 05:58 pm
May 11
Georgia: Perdue Vetoes Capital Gains Tax Cut

A big tax fairness gain in Georgia today: after thinking on it for a few weeks, Governor Sonny Perdue has decided to veto legislation that would have cut the state's income tax on capital gains. The proposed tax cut, which the legislature had approved at the same time as a bill ending state funding for a property tax credit for homeowners, would have done little or nothing for most middle- and low-income Georgians. Viewed in combination with the property tax legislation, moreover, the combined... Posted on May 11, 2009 at 08:50 pm

Rank This Week: 1078

Consumer Reports Tax Blog

Offers information, ideas, hints and commentary on the consumer taxpaying experience.

http://blogs.consumerreports.org/tax/

May 2
Some storm victims have 'til June to file federal taxes

Just when you thought tax season was over comes word that the filing season has been extended for some folks in New Hampshire, New Jersey and New York affected by the April 16 Northeast flood. Check this link on IRS Web site for details. Posted on May 2, 2007 at 01:02 pm by Consumer Reports Shopping Blog
Apr 18
Tax deadlines change for Northeasterners, TurboTax users

High drama isn't how most people would describe life within the IRS, but when I think of this week's events, that's the image I get. Imagine frenzied hallway conferences and hastily-scheduled meetings to react to breaking news, followed by a raft of ad hoc filing date extensions. On Monday, the massive Northeast storm forced the agency to extend the federal tax-filing deadline for two days for affected taxpayers and professionals. Tuesday evening, the horrible killings at Virginia Tech resulted... Posted on April 18, 2007 at 02:12 pm by Consumer Reports Shopping Blog
Apr 17
Another tax extension, following a very sad event

The IRS does have a heart after all. Officials there made a wise decision today when they granted six-month federal tax payment and filing extensions to the victims, families, first responders, faculty and students at Virginia Tech. The agency's press release, issued late today, said affected taxpayers have until October 15, 2007 to file and make payments associated with their 2006 individual tax returns. Qualifying taxpayers won't be subject to filing or payment penalties if they make this new... Posted on April 17, 2007 at 02:05 pm by Consumer Reports Shopping Blog

Rank This Week: 1185

TaxMama's TaxQuips

Daily tax and small business podcast with tax and small business news tidbits covering investment, inheritance real estate and more.

http://www.taxquips.com/

Nov 19
Double Brackets

Today TaxMama hears from Shane in California with this idea. "Lets say my kid's braces cost $7,000. Healthcare pays $2,000; so we pay $5,000. If I have a Flexible Spending Account (FSA) with $5,000 and my wife has an FSA account with $5,000, can we both claim $5,000 each against our respective FSA accounts?" Dear Shane, If the total out of pocket cost, after the Healthcare pays off is $5,000, you and your wife, together, cannot use more than a TOTAL of $5,000 in your FSAs. You can't each use... Posted on November 19, 2009 at 06:13 am by Eva Rosenberg
Nov 18
Garage or Home

Today TaxMama hears from Carole in Washington State who tells us. "My brother, a 1st time real estate buyer, is considering the purchase of a property with a garage/shop on it (not a house). Would this purchase qualify for the $8,000.00 1st time buyer tax credit?" Hi Carole, The credit is to help people buy homes - not investment property? They're on their own for that. http://www.irs.gov/newsroom/article/0,,id=204671,00.html If your brother were to fix up the property so it included a... Posted on November 18, 2009 at 06:25 am by Eva Rosenberg
Nov 17
Proof of Nothing

Today TaxMama hears from Maure in California with this dilemma. "I haven't worked since 2006, and have been exempt from paying taxes. So I have no tax returns. However, for a Hospital's Medical Assistance Program for my bill, I need to show recent 1040, and/or proof of no/low income. How do I get such documentation from the IRS, when there never was any required or filed?" Dear Maure, It's remarkably hard to prove a negative, isn't it? OK, first of all, what have you been living on? Can you... Posted on November 17, 2009 at 06:27 am by Eva Rosenberg

Rank This Week: 1212

You and Yours Blawg

Covers business law, elder law, estate planning and tax law. By Deirdre R. Wheatley-Liss.

http://youandyoursblawg.blogspot.com

Aug 6
You and Yours Blawg is Moving

Category: Elder Law, Estate Planning, Estate and Inheritance Tax, Business Law and Planning, Tax Law and Planning, Probate and Estate Administration, Financial Planning, Miscellaneous Musings You and Yours Blawg is moving its platform over to New Jersey Estate Planning and Elder Law Blog. My thoughts on happenings in the world of Estate Planning and Elder Law can be found there, including tax law happenings. You and Yours Blawg will stay alive for now with reference to business law issues that... Posted on August 6, 2009 at 07:48 am by Deirdre R. Wheatley-Liss, Esq.
Mar 20
Haven't Paid NJ Taxes? Now Might Be the Time

Category: Tax Law and Planning Courtesy of JH Cohn: New Jersey Enacts Tax Amnesty Program "New Jersey Governor Jon Corzine has signed a bill creating a 45-day New Jersey state tax amnesty period that will end no later than June 15, 2009. Presumably the program will begin on or about May 1, allowing the New Jersey Division of Taxation some time after the April 15 filing deadline to gear up for the program. Under the program, taxpayers who pay outstanding state tax liabilities for tax returns due... Posted on March 20, 2009 at 09:12 am by Deirdre R. Wheatley-Liss, Esq.
Mar 16
Lets get Banks Lending - SBA Loan Guarantee Amount to 90%

Category: Business Law and Planning As reported by NJBIZ, in an effort to get banks lending again, "Starting today, the U.S. Small Business Administration is raising to 90 percent the federal guarantee on most SBA loans and temporarily suspending a fee that is charged to banks, but passed along to borrowers. " "The 90 percent guarantee will be on loans up to $1.5 million. The portion of the loan above $1.5 million, up to the maximum SBA loan of $1 million, will be subject to a lower guarantee... Posted on March 16, 2009 at 08:45 am by Deirdre R. Wheatley-Liss, Esq.

Rank This Week: 1221

Tax Exempt Law Student Blog

Covers the law of tax exempt entities. By Jedediah Bodger.

http://taxexemptlaw.blogspot.com/

Mar 1
Another Blow to the Perpetual Student!

The Tax Court held that a taxpayer could not deduct the $33,000 cost of obtaining a Harvard M.B.A. as an educational expense under Reg. &#xc2&#xa7 1.162-5. Foster v. Commissioner, T.C. Summ. Op. 2008-22 (2/28/08). The court concluded that her Harvard M.B.A. both (1) met the minimum education requirements of her position as Vice- President of Marketing at Reshreshment Brands (at an $117,500 annual salary Posted on March 1, 2008 at 03:36 am by Jedediah R. Bodger
Mar 1
More Unrelated Business Income for Charities in Economic Downturn

When the economy starts to hit the skids, as is currently happening, people tightent their belt, and superfluous spending such as charitable donations is heavily reduced. As a result, charities engage in more business activity to hold them over until donations flow again. That speculation seems to have been concerned by a recent article in the 2008 Winter Statistics of Income Bulletin. The Posted on March 1, 2008 at 03:31 am by Jedediah R. Bodger
Mar 1
Guidance on the 990 Postcard

On February 25, 2008, the IRS issued guidance on the Form 990-N, the "e-Postcard," filing requirement of small tax-exempt organizations (i.e., those with gross receipts annually of $25,000 or less). The Pension Protection Act of 2006 requires such organizations to file the e-Postcard starting in 2008 for tax years beginning with 2007. Small tax-exempt organizations are now required to make Posted on March 1, 2008 at 03:27 am by Jedediah R. Bodger

Rank This Week: 1257

Kevin A. Pollock BLAWG

Covers wills, trusts & estates, guardianships, tax and asset protection planning.

http://willstrustsestates.blogspot.com/index.html

Nov 3
What Happens When a Pennsylvania Resident Dies Without a Will?

If a Pennsylvania resident dies without a Will, that person is said to have died "intestate". The Pennsylvania intestacy scheme is governed by statute (20 Pa.Cons.Stat. 2101 et. seq.). Where the money goes depends in large part who survives the decedent. Many people think that as soon as they get married that if they die, everything that they own will go to their surviving spouse. THIS IS NOT TRUE! 1) Scenario 1: A person is only survived by a spouse - If the decedent is survived by a spouse... Posted on November 3, 2009 at 02:13 pm
Jul 29
Links to Important US-Japanese Tax Treaties

It is not always easy to find the treaties between America and Japan, so I have decided to post them here in case you would like to read them for yourself. Here is the US-Japan Income TaxTreaty (2003) courtesy of the IRS. This is an official version of the US-Japan Estate & Gift Tax Treaty (1954) thanks to the Ministry of Foreign Affairs of Japanese. Posted on July 29, 2009 at 11:48 am
Jul 29
Estate tax liability for Non-Citizen Non-Residents of America

In this real estate market, some foreign investors may be tempted to buy property in the United States on the cheap. Overall, this may be a good idea, but I wish to caution you about one potential tax trap: When a person who owns property in America dies, and that person is not a citizen and is not a permanent resident alien, there will be a United States Estate Tax due based in part on the value of that property. What's worse is that the tax rate starts at 18% and quickly goes up to 45%!... Posted on July 29, 2009 at 10:28 am

Rank This Week: 1295

Nonprofit Law Blog

Covers legal issues affecting nonprofit and tax-exempt organizations. By Gene Takagi.

http://www.nonprofitlawblog.com/home/

Oct 24
Charitable Planning Today: Legislative Update Plus - Jerry McCoy

On October 21, 2009, I attended a program of the Northern California Planned Giving Council titled Charitable Planning Today: Recent Developments, Pending and Proposed Legislation, and Other Things You Should Keep in Mind presented by Jerry J. McCoy. Here are some of the highlights: Treasury's report to Congress regarding donor-advised funds (DAFs) and supporting organizations (SOs) remains past due. Among the items to be covered by this report: Whether deductions are appropriate for... Posted on October 24, 2009 at 02:50 pm by Gene Takagi
Oct 5
Fiscal Sponsorship Revisited

On October 1, 2009, I joined two esteemed exempt organization attorneys, Greg Colvin and Jill Dodd, in a panel discussion on fiscal sponsorship for the National Network of Fiscal Sponsors (NNFS) Annual Gathering. This is a fascinating area that holds great promise for philanthropy and social entrepreneurs, but first there are hurdles for the field to overcome. A poorly defined term. Fiscal sponsorship is not a legally defined term and describes a number of varying contractual relationships that... Posted on October 5, 2009 at 05:00 am by Gene Takagi
Oct 2
Top 5 Compliance Problems for 501(c)(3) Organizations

IRS exempt organizations audit manager Joe Kroll spoke at a program for the Bar Association of San Francisco yesterday and discussed five common ways charitable organizations jeopardize their 501(c)(3) tax-exempt status. Private inurement / private benefit. Lobbying and political activity. Filing requirements. Small 501(c)(3) organizations that have not previously filed Form 990 or Form 990-EZ may be required to electronically file Form 990-N. Failure to file for three consecutive years will... Posted on October 2, 2009 at 12:17 pm by Gene Takagi

Rank This Week: 1298

Tax Blog

Discusses tax law, tax legislation, and other IRS tax happenings. By Kreig Mitchell.

http://www.irstaxtrouble.com

Aug 4
Using a Subchapter S Corporation to Reduce Payroll Taxes for a Sole Proprietorship or Partnership?

Sole proprietors and partners who provide services to their partnership business have to pay self-employment taxes on the income they earn from the business. Self-employment taxes include Social Security and Medicare taxes. The owner of the sole proprietorship is then able to deduct one half of this amount in determining his federal income tax liability. With [...] Posted on August 4, 2008 at 06:40 pm by admin
Aug 1
IRS Provides Guidance on Whistleblower Informant Program

The IRS whistleblower program allows taxpayers to obtain payment from the IRS for providing information about alleged tax wrongdoing by other taxpayers. According to the new guidance issued by the IRS, there has been a significant increase in the number and quality of informant claims. The guidance sets out a three-step process for handling whistleblower [...] Posted on August 1, 2008 at 02:41 am by admin
Jul 30
Hiring A Tax Attorney to Abate A Tax Penalty

Tax penalties present taxpayers with unique issues to consider. Wilson v. Commissioner, T.C. Summary Opinion 2008-91, describes the situation where a tax attorney represents a taxpayer with a tax penalty that was imposed for a tax return prepared by the attorney's firm. The issue that the case describes is the conflict of interest that the [...] Posted on July 30, 2008 at 04:19 am by admin

Rank This Week: 1378

Weiss Berzowski Brady LLP

Weiss Berzowski Brady has produced legal podcasts on a variety of topics.

http://www.wbb-law.com/podcast/

Mar 13
501(c)(3)s: Obtaining and Maintaining Your Organization's Tax Exempt Status - Robert B. Teuber

Conservation easements, a private land use restriction voluntarily placed on a piece of land in order to protect it from further development, and tax relief opportunities are discussed in this podcast. Susan Marguet addresses the significant tax benefits family farmers, ranchers and other moderate-income landowners can obtain by making a charitable donation of a conservation easement. Posted on March 13, 2007 at 03:07 am

Rank This Week: 1405

Tax Plus Blog

Covers UK tax issues. By Mercer & Hole.

http://taxplus.mercerhole.co.uk/

Nov 19
Pre-Budget Report 2009 - Equitable liability saved - announcement in Pre-Budget Report?

The CIOT has now heard from HMRC that they will be legislating 'at the earliest opportunity' to retain the practice. Perhaps there will be a formal announcement in the Pre-Budget Report on 9 December. Posted on November 19, 2009 at 02:05 am
Nov 19
Eurobonds held in international settlement systems

There are some unusual points about immobilised securities, such as Eurobonds that have led to some surprising UK tax consequences Posted on November 19, 2009 at 01:34 am
Nov 10
Pre-Budget Report 2009 - Chancellor's statement announced for Wednesday 9 December 2009

Pre-Budget Report 2009 - statement announced for Wednesday 9 December 2009. Chancellor Alistair Darling has confirmed that he will make his Pre-Budget Report statement on Wednesday 9 December 2009. Posted on November 10, 2009 at 03:03 am

Rank This Week: 1448

Death and Taxes - The Blog

Covers charitable giving, estate and trust administration, estate tax, gift tax, guardianships, probate, real estate and will contests. By Joel A. Schoenmeyer.

http://www.deathandtaxesblog.com/

Nov 18
5 Tips for Dealing with Claims: Tip 3

3. Last time I talked about how you can minimize the claims period by giving notice. If things break correctly, maybe the creditor won't even file the claim. But sometimes a creditor does file the claim -- informally, by sending it to the personal representative or his or her attorney instead of filing it with the court. The personal representative can then send a "Disallowance" of the claim to the creditor, using the procedures set forth in Section 18-11(b) of the Illinois Probate Act. The... Posted on November 18, 2009 at 09:36 am by Joel A. Schoenmeyer
Nov 17
5 Tips for Dealing with Claims: Tip 2

2. Tips 2-4 are similar in that they all require that you (the personal representative) do a full-court press to deal with the claims. This is somewhat counter-intuitive -- I think we're all familiar with the idea of a defendant (like in a foreclosure action) who delays, delays, delays. We want to do the opposite here, since here we're dealing with a notice requirement, and statutes of limitations. Basically the personal representative has to give: -actual notice (via letter) of the probate to... Posted on November 17, 2009 at 12:00 am by Joel A. Schoenmeyer
Nov 16
5 Tips for Dealing with Claims: Tip 1

1. The first thing you have to ask yourself is, "should we even open a probate estate right now?" If a decedent's estate appears insolvent (that is, the value of the potential claims exceeds the value of the decedent's property), maybe you never open an estate. Or, maybe you wait for two years to open it. Two years is the magic number because, under Section 18-12 of the Illinois Probate Act, most claims are barred as of that date (even if no probate was opened). The question in these cases is... Posted on November 16, 2009 at 12:28 pm by Joel A. Schoenmeyer

Rank This Week: 1450

409A Dismay

Covers IRS regulations regarding deferred compensation. By Richard S. Meisner.

http://409adismay.blogspot.com/

Nov 16
409A Audits - IRS Request List

Information Document Request Posted on November 16, 2009 at 11:45 am by 409A Dismay
Nov 5
409A AUDITS COMMENCE

"The Internal Revenue Service ("IRS") has begun auditing companies' compliance with Section 409A of the Internal Revenue Code ("Section 409A"). This news may come as an unwelcome surprise to many who were hoping that the complexities and uncertainties of Section 409A might delay the IRS's enforcement efforts until more guidance was available and practices further developed. Information Document Requests ("IDRs") from the IRS to companies undergoing audits reveal that the IRS requires an audited... Posted on November 5, 2009 at 03:36 am by 409A Dismay
Nov 4
Franchisors Using 409A Plans to Encourage Franchisee Store Remodeling

"A key provision of 409A allows a manufacturer (franchisor) to sponsor a deferred compensation plan for a service provider or independent contractor (franchisee). The resulting plan enables the franchisee to save up to 100 percent of their franchisee income pre-tax and invest it tax-deferred for the needed remodel. When the date arrives for the remodel, the franchisee takes the distribution and pays ordinary income taxes on the money received. If used for remodeling, which is a business... Posted on November 4, 2009 at 05:04 am by 409A Dismay

Rank This Week: 1460

Frederick Focke Mischler

Reviews accounting, tax, and legal issues that face businesses and business owners in Ohio.

http://fredmischler.blogs.com/frederick_focke_mischler_/

Apr 13
Health Care Powers of Attorney

Below is copied an old email message I sent out to some friends. It is difficult to recall the precise emotions as I watched the Schiavo family and their tragedy rehashed ad nauseum in the media. In the end, I hoped the public awareness of Terri's situation would inspire some of us to take steps to avoid a similar fate. Only then can we say that Terrri's passing would not have been in vain and little more than a circus ring used by others in media and politics to push their own agenda.... Posted on April 13, 2006 at 06:15 am by FredMischler
Apr 4
Ohio Real Estate Deeds

The Deed is a document that transfers title in real estate. In the sale of a piece of property, the seller is the "grantor" and the buyer is the "grantee". There are 6 statutory forms for deeds in Ohio. General Warranty Deed Limited Warranty Deed Quit Claim Deed Survivorship Tenancy Transfer on Death Deed Executor or Trustee Deed The General Warranty Deed is used when the grantor will provide to the buyer warrantee promises that the grantor lawfully owns the property to be transferred, that the... Posted on April 4, 2006 at 08:40 am by FredMischler
Mar 21
Tax Evasion Arguments

Here's a post from the National Association of Tax Professionals, that says it as well as I think I can. Most of these arguments are good for a chuckle or two. It continually amazes me how people can put forth these ideas and appear to sincerely believe them. But, I guess that is all a testament to human nature, greed, and that we tend to believe what we want to hear. -- FM Lawsuit-Happy Tax Protesters Tax the Legal System The Verdict - Pay What You Owe National Association of Tax Professionals... Posted on March 21, 2006 at 10:37 am by FredMischler

Rank This Week: 1675

A Taxing Blog

Focuses on tax policy. By University of Colorado law professor Vic Fleischer.

http://vic.typepad.com/taxingblog/

Jul 7
Making Work Really Pay

For those of you who may still be wandering around A Taxing Blog out of habit or errant Google searches, I'm posting over at Conglomerate now. Today's installment -- liveblogging Stephen Holt's paper on Making Work Really Pay at the American Tax Policy Institute. Posted on July 7, 2005 at 08:22 pm by Victor Fleischer
Jul 5
Conglomerate

It's official: I will be posting over at Conglomerate starting today. I'll keep this site active and post occasionally with thoughts that are too tax-nerdy for a general audience. And perhaps, if and when the tax reform commission comes out with something interesting this fall, I'll organize a MoBlog here. 'Til then, come visit at Conglomerate. Posted on July 5, 2005 at 08:07 am by Victor Fleischer
Jun 30
Merger Rumors

Conglomerate has launched a takeover bid, apparently trying to become the WalMart of the business blogosphere. See below: Merger Talks Spark Debate for Blog Governance Reform By Mark Felt, Staff Reporter The Blawgosphere was rocked today by takeover rumors surrounding A Taxing Blog, a niche blog with a small but devoted readership. Taxing Blog, a privately-held entity, has been an enormously successful start-up in recent weeks, unless one considers profitability, influence, or traffic. The... Posted on June 30, 2005 at 12:52 pm by Victor Fleischer

Rank This Week: 1679

Start Making Sense

Tax and budget policy by Dan Shaviro

http://danshaviro.blogspot.com/

Nov 22
Worst opening I've ever seen in a NY Review of Books article

From Diane Johnson, in a 11/5/09 review of the latest Margaret Atwood novel: "Sarah Palin, the former governor of Alaska, announced on her Facebook page that she didn't want the lives of her elderly parents or her Down syndrome infant to be judged before Barack Obama's 'death panel.' It may be that Palin has been reading the works of Margaret Atwood, the distinguished Canadian writer ..." Actually, I myself am rather inclined to think not. Posted on November 22, 2009 at 04:06 am by Daniel Shaviro
Nov 18
Sad news

Earlier this week, former House of Representatives Legislative Counsel Ward Hussey died. Ward was the chief person responsible for actual drafting of the Internal Revenue Code from at least the early 1950s through the Tax Reform Act of 1986. That sounds like a left-handed compliment at best (then again, I'm left-handed and it's a strong part of my identity). But in fact it is a straightforward compliment. Ward was not responsible for the often stupid policies that he was charged with executing.... Posted on November 18, 2009 at 05:10 am by Daniel Shaviro
Nov 9
Quick, get them a law prof or economist before they embarrass themselves further

On the New York City subway today, I saw the following ad: "Freelancers pay twice the Social Security tax that traditional workers do. And yet, we don't feel any more secure. Weird." Followed by a plea to go the website of the Freelancers Union, which is "working to make freelance fair." Somebody give these guys an F, as in "fuddled." The so-called double tax creates neutrality rather than bias as between freelancers and employees, given the employer share of the payroll tax. Indeed, it's even... Posted on November 9, 2009 at 06:59 am by Daniel Shaviro

Rank This Week: 1745

North Carolina Estate Planning...

North Carolina Estate Planning Blog

Covers legal issues relating to wealth transfer, asset preservation, probate, and taxation. Published by Greg Herman-Giddens of Trust Counsel, P.A.

http://www.ncestateplanningblog.com/

Nov 21
Is Your Will a "Turkey"? 6 Ways to Tell

Thanksgiving is less than a week away, but many people currently have turkeys of a different kind - poorly drafted Wills. If your Will is missing one or more of these features, it's time for an update: Waiver of bond for the executor At least one successor executor (in case the first named executor can't serve) Trust provisions for minor beneficiaries Comprehensive powers for the executor and/or incorporation of statutory powers Contingent beneficiaries (in case the primary beneficiaries are... Posted on November 21, 2009 at 03:28 am
Nov 19
One Year Estate Plan "Patch" Likely

Another article from CQ Politics about the Democrats' plan for the estate tax in 2010. Posted on November 19, 2009 at 02:16 pm
Nov 19
Year End Gift Checks - make sure you do it right

Many people are aware that they can give any number of other people up to $13,000 per year under the federal gift tax annual exclusion (IRC Section 2503(b)). Staying under this number means that no gift tax return has to be filed and that there will be no reduction in the amount that can be passed free of estate taxes at the donor's death. However, writing gift checks to children, grandchildren or others at the end of the year can cause the donee lose the benefit of the annual exclusion unless:... Posted on November 19, 2009 at 10:01 am

Rank This Week: 1825

The Tax Lawyer's Blog

Covers tax news, laws and cases. By Peter Pappas.

http://blog.pappastax.com

Nov 20
Girls Gone Wild Founder Joe Francis Spanked with $34 Million Tax Lien

WebCPA reports that our pal Joe Francis - the shaper of young teenage minds and other stuff - is being forced into bankruptcy by a whopping $34 million IRS lien: [The] CEO of the company that produces the racy "Girls Gone Wild" video series, is in trouble with the IRS again only weeks after a judge sentenced him [...] Posted on November 20, 2009 at 05:33 am by Peter
Nov 19
Senate Healthcare Bill is also a Big Tax Increase Bill

By way of Paul Caron here are 17 tax increases included in the Senate healthcare bill: 40% excise tax on health coverage in excess of $8,500/$23,000 ($149.1 billion) Employer W-2 reporting of value of health (negligible revenue effect) Conform definition of medical expenses ($5.0 billion) Increase penalty for nonqualified health savings account distributions to 20% ($1.3 billion) Limit health flexible spending arrangements [...] Posted on November 19, 2009 at 08:12 pm by Peter
Nov 19
The Cosmetic Surgery Tax: Is the Senate Healthcare Bill Sexist?

William Jacobson has dug into the tome-like Senate Healthcare bill and found a provision that will impose a 5% tax on all cosmetic surgery: Harry Reid and his Democratic band of friends want to impose a 5% excise tax on all elective cosmetic surgeries (those which are not needed to repair deformaties or injuries caused by an [...] Posted on November 19, 2009 at 05:58 am by Peter

Rank This Week: 2006

The Tax Law Forum

Covers Federal and Wisconsin tax law issues. By Rob Teuber.

http://taxlawforum.blogspot.com/

Nov 19
Friday's Tax Quote - November 20, 2009

"Neither will it be that a people over-laid with taxes should ever become valiant&#xe2€&#xa6.No people over-charged with tribute is fit for empire." - Francis Bacon Posted on November 19, 2009 at 11:03 pm by Rob Teuber
Nov 12
Friday's Tax Quote - November 13, 2009

"A fine is a tax for doing something wrong. A tax is a fine for doing something right." - Anonymous Posted on November 12, 2009 at 11:01 pm by Rob Teuber
Nov 5
Friday's Tax Quote - November 6, 2009

"[Tax law jurisprudence is] a field beset with invisible boomerangs." - Robert H. Jackson Posted on November 5, 2009 at 11:00 pm by Rob Teuber

Rank This Week: 2068

China Tax Insights

Discusses developments in China tax law. By Matthew McKee.

http://chinataxinsights.com

Nov 19
Non-Profit Tax Exemption

The SAT today issued a notice (Cai Shui [2009] 122) clarifying the exempt income for non-profit organisations. Donations, membership fees and interest from deposits of exempt income are the main types of income that will be exempt for non-profits in accordance with the notice. Posted on November 19, 2009 at 06:03 pm by Matthew
Nov 19
Hwuason Alerts

http://www.chinataxlawyers.com/pdf/13November2009.pdf Hwuason newsletter containing China tax news for the fortnight ending 13 November 2009. Contains some more details on news items that I havent expanded on here. Posted on November 19, 2009 at 12:43 am by Matthew
Nov 18
Yours truly quoted for TP Week

I did an interview for TPWeek early this week on China's new transfer pricing regime and in particular the documentation disclosure requirements. You can find the article here http://www.tpweek.com/Article/2340427/Companies-urged-to-meet-deadline-for-documentation.html During the interview I mentioned that under Circular 363 certain companies are required to file their documentation within 10 days of the deadline. Mea culpa, that should have [...] Posted on November 18, 2009 at 01:25 am by Matthew

Rank This Week: 2088

ataxingmatter

Tax law and economics by Linda Beale

http://ataxingmatter.blogs.com/tax/

Nov 19
Agribusiness, Food, Vegetarianism-----and Taxes

As some of you may know, I am one of the many people who eat a vegetarian diet. I don't eat cows, pigs, fish, whales, sharks, chicken, turkey, sheep, wild game, tame game... As I sometimes say when people ask me about my diet, I eat everything you eat, except for a very short list of items--the critters that can move themselves from one place to another (or move their appendages) under their own propulsion. (Note that we often have two words for animals that we eat--their live-form word --e.g.,... Posted on November 19, 2009 at 12:31 pm by LindaMBeale
Nov 18
Derivatives Regulation

Senate Banking Committee Chair Sen. Dodd is developing one bill for regulation of the financial sector. The Obama Administration has, of course, made various proposals for regulation. Now two House Democrats--Financial Services Committee Chair Barney Frank and Agriculture Committee Chair Collin Peterson --are indicating that they will push for more transparency and accountability for derivatives in whatever legislation is passed. Unlike the Obama Administration's proposal to exempt foreign... Posted on November 18, 2009 at 04:27 pm by LindaMBeale
Nov 17
Get Paid by the IRS to be Audited? Ayres and Nalebuff come up with a wacky idea

A recent article (hat tip to tax prof) suggests that we should pay taxpayers $3000 to be audited--in fact, pay them so much that in many cases it would overcompensate taxpayers for the trouble. See Ayres & Nalebuff, Winning the Audit Lottery, Forbes (Nov. 30, 2009). Their argument goes like this: 1) more people should be audited--only about 2 per 1000 are now--or we need to be able to better target audits 2) but the intensive audits necessary to help the IRS better target audits are "an... Posted on November 17, 2009 at 02:30 am by LindaMBeale

Rank This Week: 2117

Tax Law and Business Organization...

Tax Law and Business Organization Strategy

Providing information and updates on tax law. Published by Sprouse Schrader Smith PC.

http://taxlaw.sprouselaw.com/

Nov 18
Costs of Forming and Maintaining Entities

I form and maintain many entities each year for my clients. Since I am located in Texas, I form mostly Texas entities. But I am frequently asked to form entities elsewhere -- mainly Nevada and Delaware. I always assumed that the filing fees and simlar charges made by Nevada and Delaware were less than those in Texas (not counting the cost of maintaining a registered office if you weren't actually located there). But the other day, I was informed that Nevada was going to start strictly enforcing... Posted on November 18, 2009 at 01:25 pm
Sep 10
Joint Committee on Taxation Description of Business Tax Changes in President's 2010 Budget

The staff of the Joint Committee on Taxation has released a comprehensive study on the business tax changes included in the President's FY 2010 budget proposal, as submitted to Congress on May 7, 2009. For a list of the proposed business tax changes, read on. For tax years beginning after 2010, keeping the Code Sec. 179 expensing amount and investment-based phaseout at $125,000 and $500,000 respectively (under current law, after 2010, the amounts will fall to $25,000 and $200,000,... Posted on September 10, 2009 at 03:18 pm
Aug 27
Ninth Circuit rules that ESOP Trustees' Payment of Excessive Executive Compensation Could be Breach of Fiduciary Duty

/**/ The Ninth Circuit has ruled that, where one of an ESOP's trustees was also the company's president, and on its board of directors, the trustees' "business decisions" leading to the payment of excessive executive compensation to the company president could constitute a breach of ERISA fiduciary responsibility to the ESOP. Johnson v. Couturier, (2009, CA9) 572 F.3d 1067. The court also ruled that ERISA preempted the indemnification agreements provided by the company to the president as a... Posted on August 27, 2009 at 02:38 pm

Rank This Week: 2243

Wealth Law Blog

Covers building, protecting and distributing wealth. By Samuels Yoelin Kantor Seymour & Spinrad LLP.

http://www.wealthlawblog.com/

Nov 17
Family Fights: Top 5 Reasons Settlement Beats Litigation

Jay Folberg recently wrote the four page article, "Mediating Family Property and Estate Conflicts" in the ABA's December 2009 issue of Probate & Property. I've distilled it into the top five reasons why you want to heed his advice to mediate rather than litigate: 1. Expense. Litigation is ridiculously expensive. It takes untold hours for partners, associates, and paralegals to wade through discovery documents, take depositions, fight numerous pre-trial battles, and properly prepare a case... Posted on November 17, 2009 at 09:42 pm
Nov 11
Recent Legislation: Oregon Wrongful Death Settlement

From time to time we will publish recent local cases or legislative bills: Oregon Senate Bill 403 Senate Bill 403 makes a very small amendment to ORS 30.030, which deals with the dispersal of damages received from a wrongful death action. Originally the remainder of damages from a wrongful death claim could only be dispersed in a manner similar to intestate succession. Senate bill 403 amends ORS 30.030(5) to allow the remainder of damages to be dispersed in any way agreed by the beneficiaries... Posted on November 11, 2009 at 05:00 am
Nov 4
Recent Ruling: Fed. Estate Tax Not Binding

/**/ From time to time, we will publish blurbs on recent local court opinions and state legislation: Force v. Dep't. of Rev., 2008 WL 5191844 (Or.Tax Magistrate Div.) (pdf) Background: Decedent's personal representative completed federal and state estate tax returns resulting in no tax owed on decedent's farm. The state of Oregon issued a notice of deficiency for approximately $27,000. The personal representative argued that the state of Oregon, by statute, had to use the federal valuation... Posted on November 4, 2009 at 05:00 am

Rank This Week: 2334

Atlanta Tax Lawyer

Covers federal and state taxation of income, estates, gifts and trusts. By Gary Britt.

http://www.atlantataxlawyer.info/

Nov 17
Interim Guidance, Pending The Issuance Of Regulations, Relating To The Credit For Nonbusiness Energy Property Under § 25c Of The IRC

Notice 2009-53 provides procedures that manufacturers may follow to certify property as qualified nonbusiness energy property under &#xc2&#xa7 25C of the Internal Revenue Code, as well as guidance regarding the conditions under which taxpayers seeking to claim the &#xc2&#xa7 25C credit may rely on a manufacturer's certification. This notice also includes transition rules to provide taxpayers with guidance concerning the interaction of the effective date and timing provisions of the Energy Policy Act, the... Posted on November 17, 2009 at 11:57 am by Gary L. Britt, CPA, J.D.
Oct 31
Expanded Recovery Act Tax Credits Help Homeowners Winterize their Homes, Save Energy; Check Tax Credit Certification Before You Buy, IRS Advises

Home Energy Video: English | Spanish | ASL Audio File for Podcast: English | Spanish Video: Money in Your Pocket WASHINGTON - People can now weatherize their homes and be rewarded for their efforts. According to the Internal Revenue Service, homeowners making energy-saving improvements this fall can cut their winter heating bills and lower their 2009 tax bill as well. The American Recovery and Reinvestment Act (Recovery Act), enacted earlier this year, expanded two home energy tax credits: the... Posted on October 31, 2009 at 10:17 am by Gary L. Britt, CPA, J.D.
Oct 31
Final Regulations On Reduction In Tax Attributes By S Corporations With Discharge Of Indebtedness Income Issued

TD 9469 contains final regulations that provide guidance on the manner in which an S corporation reduces its tax attributes under section 108(b) for taxable years in which the S corporation has discharge of indebtedness income that is excluded from gross income under section 108(a). In particular, the regulations address situations in which the aggregate amount of the shareholders' disallowed section 1366(d) losses and deductions that are treated as a net operating loss tax attribute of the S... Posted on October 31, 2009 at 10:02 am by Gary L. Britt, CPA, J.D.

Rank This Week: 2353

Los Angeles Estate, Probate And...

Los Angeles Estate, Probate And Tax Law Blog

Covers estate planning, tax and probate law. Published by Moravecs, a Professional Law Corporation.

http://losangelesestateprobatelawyer.blogspot.com/

Nov 15
Estate Planning Tool: Using "Caregiver Contracts" For Family Members Who Take Care Of Elderly Relatives

In prior posts, I have discussed minimizing the risk of probate litigation between family members. Such disputes often arise when parents or relatives decide to leave unequal inheritances to the beneficiaries, sometimes to reward the person who has taken on significant family caregiving duties. Studies show that nearly 25 percent of adult Americans provide long hours of voluntary care for older or sick family members and friends. These numbers are likely to grow as the population ages and more... Posted on November 15, 2009 at 10:11 pm by Los Angeles Estate, Probate And Tax Law Blog
Nov 13
Frequently Asked Questions About Including Provisions For Pets In Trusts

Over two-thirds of pet owners treat pets as members of their families while 12% to 27% of pet owners include their pets in their wills and/or trusts. Many pet owners want to make sure that even if they can't take care of their pets due to death or disability, those animals will be provided for and well cared looked after. Sometimes people make informal arrangements with a relative or friend to care for their pets. Sometimes this can work out but things can go wrong. What if the new owner... Posted on November 13, 2009 at 11:47 pm by Los Angeles Estate, Probate And Tax Law Blog
Oct 24
Will The Estate Tax Disappear: WSJ Article And Our Prediction

The Wall Street Journal has an October 23, 2009 article entitled "Will The Estate Tax Disappear? Changes in the Way Inherited Assets Are Valued Could Cost Heirs and Cause Hassles." A copy of the article can be found at: [online.wsj.com] By way of background, in 2001, the Economic Growth and Tax Relief Reconciliation Act of 2001 (EGTRRA) was enacted to provide for a 10 year federal estate tax phase-out plan. From 2002 through 2009, the portion of an estate exempt from federal estate tax was... Posted on October 24, 2009 at 01:39 am by Los Angeles Estate, Probate And Tax Law Blog

Rank This Week: 2467

South Florida Estate Planning Law

Covers South Florida estate planning, probate and tax law issues. By David Shulman.

http://www.sofloridaestateplanning.com/

Nov 14
I'm Not Writing About Pending Estate Tax Legislation

I keep seeing stories about various estate tax reform bills that have been introduced in Congress. They range from repealing it, to extending the exemption, to raising the exemption to lowering it, etc. I'm not going to waste time and effort reading the various bills and the tea leaves. When Congress actually does something, I'll report on it. Until then, we're still in limbo. Posted on November 14, 2009 at 06:32 pm
Nov 13
Oasis of the Seas

Ok, this has nothing at all to do with estate planning. But after yesterday's rant, I thought I'd post something a little different. The Oasis of the Seas, the world's largest cruise ship arrived in Fort Lauderdale Today. Here are a few picture of it that I took from my balcony. The first is with optical zoom and the next is with digital zoom. Posted on November 13, 2009 at 10:53 am
Nov 12
The Wall Street Journal Totally Blows it on Online Wills

I can't believe it. I have long admired the Wall Street Journal and considered them a paragon of straightforward and relatively high level journalism. Sure the editorial page leans conservative, and there has always been a general pro-corporate tinge to its stories. But I've always considered it more respectable than most other news sources. Not anymore. Today, the Wall Street Journal has led their readers horribly astray in such a manner that may cause untold pain and suffering (along with... Posted on November 12, 2009 at 01:37 pm

Rank This Week: 2484

EU & Italian International Tax...

EU & Italian International Tax Law Blog

Provides updates on EU and Italian international tax matters. By Marco Rossi.

http://www.euitalianinternationaltax.com/

Nov 13
Italy Cracks Down on Tax Havens

In connection with the enactment of its own tax amnesty (which permits the repatriation or regularization of undeclared foreign investments with the payment of a very generous 5% flat tax on the fair market value of the undeclared assets), Italy is cracking down on tax havens, especially those across the border such as Switzerland, Liechtenstein and San Marino. Current estimates of the Italian tax administration suggest that more than 35 percent of Italian investments in Switzerland are being... Posted on November 13, 2009 at 08:11 am
Sep 25
MQR&A Announces New International Tax Counsel

We are pleased to announce that Elettra Menarini has joined our firm as international tax counsel on US-Italy matters. Elettra is admitted in Italy (2003) and California (2006). She specializes in international tax and corporate law and shall provide legal and tax advice for US-Italy cross border transactions. Elettra Menarini was born and raised in Bologna, Italy. She graduated from the Alma Mater Studiorum University of Bologna receiving her Italian law degree (Laurea in Giurisprudenza) in... Posted on September 25, 2009 at 08:57 am
Sep 16
New Tax Amnesty Takes Effect on September 15

The new tax amnesty recently enacted by the Italian parliament took effect on Sept. 15. Taxpayers have time until April 15, 2010 to apply. The amnesty applies to individuals and pass through entities which held undeclared foreign accounts and investments outside of Italy as of December 31, 2008. Taxpayers can declare (and leave abroad) or repatriate the foreign accounts and investments and avoid any applicable tax and civil penalties by paying a tax at a flat rate of 5% on the amount of the... Posted on September 16, 2009 at 07:19 am

Rank This Week: 2526

Tax Information for People with...

Tax Information for People with Disabilities by Paul Nidich, J.D., LL.M.

Covers tax matters affecting people with disabilities. By Paul Nidich.

http://paulnidich.blogspot.com/

Nov 10
Informative Comments on Health Care Reform by California Nurses Association

Once again, Medical News Today publishes a timely and informative comment about the recently House passed Health Care reform bill. Rose Ann DeMoro, Executive Director of the California Nurses Association/National Nurses Organizing Committee, issued a statement on November 9th noting some of the strengths and shortcomings: Of all the torrent of words that followed House passage of its version of healthcare reform legislation in early November, perhaps the most misleading were those comparing it... Posted on November 10, 2009 at 02:28 am by Paul Nidich
Nov 6
Chelation Therapy Drug Treatment & Children with Autism

Medical News Today reports two small studies involving 65 children from ages 3 - 8 suggests that a drug approved by the FDA for treatment of lead poisoning may help children with autism who have a problem with heavy metal toxicity. These studies used a drug known as DMSA which was reported to increase the excretion of several toxic metals, including lead, with no adverse side effects.These two studies also suggest that using DMSA might improve some of the symptoms of autism such as language,... Posted on November 6, 2009 at 03:51 am by Paul Nidich
Nov 4
One summary of latest House Healthcare bill

The Academy of Managed Care Pharmacy has issued a summary of the "Pelosi" health care reform bill, HR 3962. Medical News Today has "an AMCP staff summary of some of the key provisions of interest to the Academy." See [tinyurl.com] Posted on November 4, 2009 at 09:44 am by Paul Nidich

Rank This Week: 2622

from milan to mumbai

Post and riposte from a resolutely cranky but creative law professor, emphasizing international and comparative tax law... by Michael Livingston

http://mikelivingston.blogspot.com/

Nov 9
berlusconi, bloomberg, and the rise of the demomonarchy

I'm talked out on the subject of last week's elections, and I'm not sure I have very much different to say than anyone else, anyway. In a nutshell, the Republicans did well: if the Democrats learn the right lessons, they'll correct, and if not they'll lose still more ground. Those who want to hear more can follow my blog at www.pa2010.com I want to talk here about an election that didn't get much coverage: the coronation, uh, reelection of Mike (never Michael) Bloomberg as Mayor of New York... Posted on November 9, 2009 at 07:21 am by michael a. livingston
Nov 8
the ugly israeli

My son and I watch "Numbers" on Friday night together. (Actually, I watch it while he plays computer games and checks the plot periodically, but that's another story.) For those who don't follow the show, it revolves around a hard-bitten FBI agent whose brother, a math genius, improbably comes up with solutions for each week's episode. Both characters and their father (Judd Hirsch) are identifiably Jewish, although they equally improbably date a series of very beautiful women, all of whom... Posted on November 8, 2009 at 07:30 am by michael a. livingston
Nov 1
the right wins (for the moment) in new york 23

The conservative wing, or torso, of the Republican Party seems to have won out as moderate Dede Scozzafava--an Italian name which appears to mean "shuffle the beans"--has dropped out of the congressional race in NY23 in favor of conservative Doug Hoffman. For anyone who's not a political junkie, Scozzafava is (or was) the party-endorsed candidate until a huge national campaign was launched on Hoffman's behalf by conservative activists, talk show hosts, and (of late) Republican politicians,... Posted on November 1, 2009 at 09:28 am by michael a. livingston

Rank This Week: 2647

Oregon Debt Relief Weblawg

Covers bankruptcy and federal and state tax matters. By Kent Anderson.

http://www.eugenebankruptcylawyer.com/blog

Nov 6
Should I Sign A Reaffirmation Agreement?

Debtors often have property subject to a lien when they file for bankruptcy. In order to keep the property debtors can often sign a reaffirmation agreement. A reaffirmation agreement is a new contract between the debtor and secured lender. The contract is the debtor's promise to continue making future payments in exchange for the lender's promise to not repossess. Reaffirmation agreements must be approved by the bankruptcy court. Bankruptcy Rules reqire reaffirmation agreements be filed within... Posted on November 6, 2009 at 11:41 am by Cara Richter, Oregon Attorney
Oct 21
Are You Currently Being Audited By The Oregon Department of Revenue?

The Oregon Department of Revenue has put in place a temporary amnesty policy for audits from October 1, 2009 through November 19, 2009 (the amnesty period). This means that if your audit is ongoing, and you have not been issued a Notice of Deficiency with your audit results you may be able to participate in the amnesty program. Previous to this policy, only those taxpayers who had not been contacted by the OR Department of Revenue qualified. What is amnesty? Amnesty can mean a 50% reduction in... Posted on October 21, 2009 at 03:31 pm by Nicole Piehl, Enrolled Agent
Oct 17
What is the Bankruptcy Automatic Stay?

The Automatic Stay is an Order from the Federal Bankruptcy Court requiring that all debt collection actions against a person or business that has filed for bankruptcy protection be suspended or terminated as of the date of filing. The court ordered stay is entered automatically in all bankruptcy cases unless some limited statutory exceptions apply. The automatic stay is a type of injunction or formal command by the court that prohibits any act intended to collect a debt or recover a claim... Posted on October 17, 2009 at 02:25 pm by Kent Anderson

Rank This Week: 2683

Estates of Mind

Covers estate planning and wealth preservation. By Mark A. Ziebold.

http://estatesofmind.blogspot.com/

Nov 6
The taxation of life insurance policies – part 1

Many clients come into my office and indicate that they have life insurance coverage and that they were told by their insurance agent that they would be protected from all taxes by the life insurance death benefit. They are also told that they can access the cash value of their life insurance policies on an income tax free basis during their life for retirement, or other purposes (paying for children's college expenses, medical needs, etc.). While all of these statements are generally correct,... Posted on November 6, 2009 at 07:54 am by Mark Ziebold
Nov 6
Upcoming Asset Protection Society Meetings

Many people have asked for the schedule for the next few APS meetings. Here are the dates, speakers and topics for the next three meetings. If you are interested in attending any of these meetings, feel free to contact me at mziebold@ferruzzo.com to RSVP. Tuesday, November 24, at 7:00 PM - Todd Rustman will be presenting on principally protected investment vehicles for your clients with some time spent on current premium financed life insurance programs. Tuesday, January 19, at 7:00 PM - Jason... Posted on November 6, 2009 at 12:33 am by Mark Ziebold
Oct 27
Next Asset Protection Society Meeting

We have scheduled the next Orange County Asset Protection Society Meeting for Tuesday, November 24, at 7:00 PM in our office located at 3737 Birch, Suite 400, Newport Beach, CA 92660. Todd Rustman of GR Capital Asset Management (www.gr-cam.com) will be speaking on principally protected investment options for your clients and include a discussion on some of the current options involving premium financed life insurance. If you are looking for investment options for your clients who have suddenly... Posted on October 27, 2009 at 02:02 am by Mark Ziebold

Rank This Week: 2689

Los Angeles Business and Tax...

Los Angeles Business and Tax Lawyer Blog

Covers bankruptcy, business and tax law in California. By Greenberg Glusker.

http://www.losangelesbusinesstaxlawyer.com/

Nov 2
Security Interests In Partnership or LLC Interests

If you have a security interest in a partnership or LLC interest, you probably perfected that security interest by filing a UCC financing statement against the debtor. And if you were the first to file against most partnership or LLC interests, you had first priority upon filing. However, you would probably be shocked to find out that a party who subsequently obtains a security interest can jump your priority. In broad terms, this problem arises if the interest in the partnership or LLC becomes... Posted on November 2, 2009 at 10:33 am by Greenberg Glusker
Nov 2
IRS Pre-Submission Conferences

If you are considering requesting a private letter ruling from the IRS, there is a process which can save you significant time and expense. Prior to submitting an extensive private ruling request, you can first file a request for a pre-submission conference. This procedure allows the IRS to evaluate a brief overview of the issue, after which the IRS will recommend that you (a) schedule a conference with IRS attorneys to discuss the matter further, (b) submit a full-fledged private ruling... Posted on November 2, 2009 at 10:15 am by Greenberg Glusker
Jul 27
Involuntary Bankruptcies

Los Angeles has recently seen a spate of involuntary bankruptcies. What is an involuntary bankruptcy? An involuntary bankruptcy is a bankruptcy filed not by the debtor, but by the debtor's creditors. Thus the "involuntary" bankruptcy. There are certain circumstances which must exist for a creditor or group of creditors to be allowed to put their debtor into bankruptcy. First, these petitioning creditors must have claims which are both (a) not contingent as to liability, and (b) not subject to a... Posted on July 27, 2009 at 11:37 am by Greenberg Glusker

Rank This Week: 2754

Los Angeles California Tax...

Los Angeles California Tax Attorney Blog

Covers bankruptcy, fraud and criminal tax, offer in compromise, and other tax news and updates. Published by Los Angeles attorney, Victor Yoo of the Tax Lawyers Group.

http://www.irstaxlawattorney.com/

Oct 31
Late FBAR Filing- Penalties for Late Filed FBAR & Not Filing FBAR- Tax Amnesty

Foreign Bank Account Tax Amnesty Attorney: Failure to file FBAR can have devastating consequences to a taxpayer. We attached a summary of potential penalties and criminal tax exposure related to an unfiled FBAR- FBAR Tax Penalty Summary. We've been receiving calls from stressed taxpayers regarding their unfiled FBAR- IRS Form TDF 90-22.1. We can't offer psychiatric help but you can reach me this weekend on my cell (310) 968 9820 if you have few questions which may help ease your mind. Posted on October 31, 2009 at 11:54 am by Victor Yoo
Oct 31
FBAR Penalties- IRS TargetsTaxpayers with Foreign Bank Accounts in South Korea, Hong Kong and Singapore

FBAR Tax Attorney: Internal Revenue Service IRS issued a statement this week stating that they will be pursuing foreign bank accounts held by US taxpayers in other countries including South Korea, Hong Kong, Singapore and several European countries. US Senate also introduced a new tax and banking legislation which will further frustrate US taxpayers seeking tax shelters through foreign bank accounts. The bill requires 30% withholding on payments to foreign financial institutions and other... Posted on October 31, 2009 at 02:49 am by Victor Yoo
Oct 30
FBAR-How to file Foreign Bank Account Report- Tax Amnesty IRS Voluntary Disclosure

Foreign Bank Account Tax Attorney: If you are participating in the IRS Voluntary Disclosure program, you will be contacted by the IRS to review your case and conduct an interview so that the IRS may determine whether you qualify for the Voluntary Disclosure Program. In the upcoming posts, we'll go through some of the issues and strategies which may be of help in your case. Make sure that you also have a copy of IRS Foreign Bank Account Report which you will need to submit to the IRS as part of... Posted on October 30, 2009 at 12:31 pm by Victor Yoo

Rank This Week: 2777

The 1031 Exchange Blog

Covers delayed, reverse and improvement 1031 exchanges.

http://www.1031exchangeinstitute.org/1031-exchange-blog/

Oct 27
California Governor Signs Buyers Choice Act (AB 957)

California Govenor has signed AB 957 (Galgiani) into law effective October 12, 2009. This bill prohibits a seller that acquired title to residential real property (1-4 units) at a foreclosure sale from requiring a buyer of that property to purchase title insurance or escrow services from a company chosen by the seller as a condition of receiving offers or selling the residential real property. A transaction subject to the act would not be invalidated solely because of the failure of any person... Posted on October 27, 2009 at 05:58 pm by William L. Exeter
Oct 26
Structured Sale with the Deferred Sales Trust™

Investors must address the problem of taxable gain when selling real estate, businesses or other highly appreciated property. Appreciated real estate or other property will generally trigger the payment of capital gain taxes upon the sale of the property. Request Your Free Deferred Sales Trust Illustration Here The 1031 Exchange is generally a better tax-deferred structure for investors, but only when they intend to reinvest in other like-kind replacement property. The 1031 Exchange is not a... Posted on October 26, 2009 at 08:47 am by William L. Exeter
Oct 20
Mortgage Over Basis Considerations for Foreclosure Properties

Taxable Capital Gain on Foreclosure of Real Estate Taxable capital gains for income tax purposes result from a short sale, foreclosure or deed in lieu-of-foreclosure of a real property if the outstanding mortgage loan secured by the real property exceeds the investor's adjusted tax cost basis in said property. This is often referred to as mortgage over basis or mortgage over adjusted cost basis. This taxable gain resulting from mortgage over basis occurs because the conveyance of the real... Posted on October 20, 2009 at 10:00 pm by William L. Exeter

Rank This Week: 2816

DEHNEN.Blog

Covers German tax news.

http://www.dehnenblog.com/eng

Oct 27
German Inheritance and Gift tax – upcoming competition of federal states?

The coalition agreement concluded by the CDU (Christian Democratic Union), the CSU (Christian Social Union) and the FDP (Free Democratic Party) following the recent federal elections contains several taxation measures which are planned for the near future. One such measure is the German Inheritance and Gift Tax Act (Erbschaftsteuer- und Schenkungsteuergesetz, ErbStG), which was subject to major amendments effective as of 01.01.2009 and is to be amended again in regard to the following aspects:... Posted on October 27, 2009 at 06:44 am by admin
Sep 8
Draft Decree on Transfer of business functions – Business organisations´ opinion published

The German Foreign Relations Tax Act (Au&#xc3&#x9fensteuergesetz or AStG) contains the general rules for applying Germany's transfer pricing regime and for determining income from cross-border transactions between related parties. In 2008, the AStG was amended by adding new Sec. 1(3), which contains rules on the transfer of business functions abroad, which are subject to transfer pricing principles under German tax law. For clarification purposes, the amended act was accompanied by Function Transfer... Posted on September 8, 2009 at 06:42 am by admin
Aug 25
Germany terminates double taxation convention with Turkey

On 21 July 2009 Germany terminated the Agreement between the Federal Republic of Germany and the Republic of Turkey for the Avoidance of Double Taxation with respect to Taxes on Income and Capital which was concluded on 16 April 1985. On 24 August 2009, the Federal Government announced its reasons for the move, stating that the double taxation convention ("DTC") was outdated and unbalanced. Germany had entered into negotiations with Turkey to amend the DTC to bring it more in line with the OECD... Posted on August 25, 2009 at 06:37 am by admin

Rank This Week: 2825

Towson Tax Attorney

Covers taxes, business law, and estate planning. By Jeffrey Rogyom.

http://towsontax.com

Oct 21
The Best Entity for Your Maryland Business: LLC or Corporation?

Choosing an entity for your business can be a difficult decision. There are many types of entities available, and you are not limited to forming an entity in your state. Further, the entity you choose does not necessarily determine how the entity will be taxed. For instance, you may choose to form [...] Posted on October 21, 2009 at 08:07 pm by Jeff Rogyom
Aug 23
Maryland Sales Tax Audit Defense

With Maryland tax audits increasing, you should ensure your company is prepared. An ongoing, organized approach to preserving necessary documents will streamline a sales tax audit and may even lead to tax refunds. First, beware, a state auditor visiting your office for a sales tax audit isn't required to keep the focus solely [...] Posted on August 23, 2009 at 10:14 pm by Jeff Rogyom
Aug 5
Sales Tax Matrices and Taxability Guides

Your company may need a sales tax matrix or taxability guide to ensure employees know how to fullfill their sales and use tax duties. Sales and use taxes are inherently complex, in part, because each state's rules vary. This leaves many tax departments ill-equipped to adequately maintain every tax and accounting responsibility. Sales and use [...] Posted on August 5, 2009 at 09:51 pm by Jeff Rogyom

Rank This Week: 2868

Tax Masters Blog

Discusses IRS tax relief, tax representation, and topical tax information. By Patrick Cox.

http://www.txmstr.com/blog

Oct 20
Random Employment Tax Audits Rising

We learned recently at TaxMasters, Inc. (TAXS) that more tax audits are on the horizon. With the current tax gap weighing heavily on the IRS, agents are looking for revenue wherever they can find it. IRS audits are always a source of heartburn for the taxpayer being audited, but when a business gets audited, the potential for disaster threatens not just one person, but every person who depends on that business for income, products, and services. If your business is facing an audit, TaxMasters... Posted on October 20, 2009 at 01:16 pm by TaxMasters
Sep 23
Have an October 15 Tax Problem?

October 15 Tax Problems So you waited until the last minute and couldn't get all your documentation in order on Monday or Tuesday. By the time Wednesday, April 15 arrived, you knew you were too late and weren't going to meet the IRS income tax filing deadline. Odds are you filed an extension using IRS Form 4868. If you did that, pat yourself on the back. Too many taxpayers simply let the filing go and don't look back until the IRS forces them to. Do You Have Unfiled Tax Returns? If you did not... Posted on September 23, 2009 at 07:55 am by TaxMasters
Aug 25
IRS Notice CP 11 - Tax Audit

IRS Notice CP 11 - Changes to Tax Return, Balance Due The IRS sends notice CP 11 to inform you they made changes to your tax return that resulted in you owing more money to the government. In other words, they conducted an electronic audit and made changes to your tax return based on that audit. Most taxpayers who receive a CP 11 don't realize they have been audited and that they may benefit from seeking tax audit help. CP 11 instructs you that you should pay the tax liability reported in the... Posted on August 25, 2009 at 07:34 am by TaxMasters

Rank This Week: 2883

New York Trusts & Estates Law...

New York Trusts & Estates Law Blog

Covers New York wills, trusts, estates, and elder law. By Saul Elnadav.

http://trustsestateslaw.com/

Oct 14
Article on Wills, Inheritance & Halacha in Community Magazine

An article I wrote on yerusha (Jewish Laws of Inheritance) and halachic estate planning was published in the October 2009 issue of Community Magazine. See The Top 10 Questions & Answers About Wills, Inheritance & Halacha. If you're concerned about halacha, you should, at the very least, have a will. Share/Save Related posts: Estate Planning, Halacha and the Jewish Law of Inheritance Halacha and inheritance Estate planning during a recession Estate planning basics "Major revisions to New... Posted on October 14, 2009 at 07:27 am by Saul Elnadav
Aug 27
New York to revise the power of attorney law again?

New York's new power of attorney law will be going into effect on September 1, 2009. While attorneys and other financial professionals update their forms for next week, they should be prepared to have to do it again in the near future. Back in June, two and a half months before the effective date of the statute, the New York State Assembly passed Bill No. A8392-A, which made some "technical corrections" to the statute and the statutory forms. Unfortunately, the State Senate was too busy... Posted on August 27, 2009 at 12:32 pm by Saul Elnadav
Jul 21
Halacha and inheritance

A two hour summer commute is a proven cause of blog neglect. On the other hand, my long commute gives me time to listen to downloaded CLEs, podcasts and lectures I wouldn't otherwise have time for. Last night I listened to a lecture by Rabbi Hershel Schachter, a prominent posek, on the Halachic Issues of Inheritance. The lecture is an introduction to the major halachic principles regarding wills and inheritance, including halachic estate distribution, whether and when wills are accepted in... Posted on July 21, 2009 at 09:26 am by Saul Elnadav

Rank This Week: 2927

Tax Blog

Covers IRS and Colorado tax issues. By W.L. Henry LLC.

http://wlhenry.com/tb

Sep 28
Our Five Favorite Frivolous Tax Arguments

As attorneys, we see a variety of legal issues and novel legal theories each day. Sometimes, our prospective clients have their own ideas of good legal theories. In the tax realm, there seems to be an abundance of websites and paid consultants to "help" the misguided taxpayer. Here are our top five frivolous tax arguments guaranteed to get you in hot water with the IRS: 1. Filing and Paying Income Tax is Voluntary: The argument goes that the IRS itself, even in its own publications, states that... Posted on September 28, 2009 at 03:20 pm by admin0
Jan 30
Will I have to pay tax if I lose my home in a foreclosure?

Every mortgage loan has two parts, a note and a deed of trust. The note is your debt to the mortgage company. The deed of trust is the document secures the debt with your home. If you get behind on your payments, the mortgage company may foreclose on your home and sell it at an auction. The difference between your loan amount and what the mortgage company sold it for can create a deficiency. (For example, if you have a $300,000 mortgage loan and the house sells for $200,000 at a foreclosure... Posted on January 30, 2009 at 09:24 pm by admin0
Jan 19
How does $56.4 billion sound?

The IRS recently released its annual enforcement figures for its 2008 fiscal year. The bottom line-$56.4 billion in enforcement revenue collected. Collecting the billions required the IRS to issue over 2.6 million tax levies (IRS garnishments and bank levies) and 750,000 tax liens on taxpayers' property. Many of these levies and liens occurred after taxpayers failed to file their tax returns or pay tax. Tax levies and lien normally occur after numerous notices from the IRS. Taxpayers can stop... Posted on January 19, 2009 at 08:39 pm by admin0

Rank This Week: 3006

Atlanta Estate Planning Lawyer...

Atlanta Estate Planning Lawyer Blog

Covers powers of attorney, trusts, wills, and health care directives. By The Adams Law Offices, LLC.

http://www.atlantaestateplanninglawyer.com/

Aug 28
ATLANTA, GEORGIA, FIDUCIARY LAWYERS SEE POWER OF ATTORNEY EXPLOITATION, MISUSE, AND ABUSE ON THE RISE – THIS IS ESPECIALLY TRUE WITH THE ELDERLY -- THERE IS LEGAL ACTION YOU CAN TAKE!

The Atlanta, Georgia, fiduciary and Estate Litigation lawyers have seen a striking increase in the exploitation of the elderly through powers of attorney. Make no mistake about it; abusing the fiduciary duty imposed under Georgia law for the holder of a power of attorney is tantamount to stealing. It is white-collar crime at its worst. Our Atlanta, Georgia breach of fiduciary duty lawyers have significant experience in rectifying the misuse and abuse of a power of attorney. Our Firm is also... Posted on August 28, 2009 at 10:13 pm by Duncan H. Adams
Aug 7
ATLANTA, GEORGIA, ELDER LAW, PROBATE, AND ESTATE LITIGATION LAWYERS -- BEST PRACTICE GUIDANCE TO PROTECT THOSE WHO CANNOT PROTECT THEMSELVES -- BAILEY V. EDMUNDSON CASE STUDY

Our Atlanta, Georgia, probate, estate, and fiduciary litigation law Firm has experienced a remarkable increase in the number of Georgia breach of fiduciary duty lawsuits we have litigated (or are presently litigating) over the past several years. Likewise, our wills, trusts, and estate attorneys have also seen a significant increase in the number of Georgia will contest lawsuits we have litigated (or are presently litigating). Perhaps the increase in Georgia breach of fiduciary duty and will... Posted on August 7, 2009 at 03:20 pm by Duncan H. Adams
Aug 1
ATLANTA, GEORGIA, WILLS, TRUSTS, AND ESTATE LITIGATION LAWYER: UNDUE INFLUENCE AND THE WILL CONTEST – BEST TO FIND OUT BEFORE IT IS TOO LATE

As an Atlanta, Georgia wills, trusts and estate litigation lawyer, I am often asked by potential clients to determine if any undue influence has occurred with respect to a Georgia will, trust, power of attorney; or, other legal document. Our Atlanta, Georgia probate and estate lawyers have pending will contest cases in Atlanta, Georgia (Fulton County) Decatur, Georgia (DeKalb County), Marietta, Georgia (Cobb County), Lawrenceville, Georgia (Gwinnett County) and Macon, Georgia (Bibb County). As... Posted on August 1, 2009 at 07:30 pm by Duncan H. Adams

Rank This Week: 3106

Texas State & Local Tax Law...

Texas State & Local Tax Law Blog

Insight and commentary on Texas state and local tax developments. Published by Alan E. Sherman, Attorney at law.

http://www.txsaltlaw.com/

Aug 4
In Texas, federal cash for clunkers rebates aren't subject to motor vehicle sales tax

At this writing, Congress appears to be unsure whether to further fund the extremely popular CAR Allowance Rebate System ("CARS"), also known as the "cash for clunkers" program. Whatever happens, Texas auto dealers and their customers who have benefited from the federal rebates so far, and those who may benefit in the future, should be pleased to know that the rebates aren't subject to the motor vehicle sales tax due on eligible new car purchases. That good news was outlined in a June 30th... Posted on August 4, 2009 at 05:00 am by Alan E. Sherman
Aug 3
Why following the correct procedure is critically important in a state tax collection lawsuit

Last Friday, the Third Court of Appeals in Austin issued its memorandum opinion in Milazzo v. State, et al., affirming a summary judgment in favor of the State in a collection lawsuit for unpaid sales taxes. The State had filed suit on behalf of itself, the City of Bryan and Brazos County and had attached to its petition in district court a certificate of tax delinquency issued by the Comptroller of Public Accounts. Ms. Milazzo, acting pro se (that is, representing herself), filed a general... Posted on August 3, 2009 at 05:00 am by Alan E. Sherman
Jul 10
The Texas Supreme Court won't reveiew two recent tax cases

Today's Orders from the Texas Supreme Court denied taxpayer petitions for review in two tax cases. The first denial was in a sales tax case, Reynolds Metals Company v. Combs, et al., originally decided by the Third Court of Appeals on February 4th and discussed on this site in a post captioned "The legislative acceptance doctrine won't always defeat a Comptroller policy." The Court later withdrew its original opinion and substituted its April 8th Memorandum Opinion on Rehearing (reachable by... Posted on July 10, 2009 at 10:30 am by Alan E. Sherman

Rank This Week: 3166

Arizona Tax Lawyer Blog

Covers Arizona tax controversy and tax litigation issues. By Michael S. Anderson P.C.

http://www.arizonataxlawyerblog.com/

Feb 22
Taxpayer Indicted in Florida for Selling "Tax Escape Service"

Carel A. Prater, also known as Chad Prater, was indicted by a Florida Grand Jury a few weeks ago. The charges were based on Mr. Prater's business which was built apparently around the notion that income is not taxable. He would in support of this, prepare false tax returns and bogus documents for his clients, tell them to conceal assets and income from the IRS by setting up "shell limited liability companies" and "unincorporated business trust organizations", and by transferring ownership of... Posted on February 22, 2009 at 12:44 pm by Michael S. Anderson
Feb 15
Koko Taylor Loses Her Offer In Compromise Challenge in Tax Court

Many reading this entry are likely wondering who "Koko Taylor" is. at least those who don't follow "Blues" singers. To tell the truth, I didn't know either until I read this forbes article. Apparently, Koko Taylor is a blues singer who has won at least one Grammy as well as 25 "Blues Music Awards." In the 90s, she had some good years income wise, and just didn't withhold enough income tax resulting in a rather large tax debt. She is now about 80 years old and you'll probably agree that, her... Posted on February 15, 2009 at 09:26 pm by Michael S. Anderson
Feb 11
Serious IRS Debt in Arizona - Disadvantages of Using Bankruptcy

Should bankruptcy be considered a last resort in dealing with IRS debt? In my opinion, yes. It should however, always be carefully considered. The potential benefits of a bankruptcy can be undeniable in relation to a taxpayer's potentially less effective options. Having said that, bankruptcy does have some obvious negatives for the taxpayer with serious income tax debt. The more common are as follows: 1. Bankruptcy Costs Money There is the attorney who is analyzing your case and representing... Posted on February 11, 2009 at 03:48 pm by Michael S. Anderson

Rank This Week: 3353

South Carolina Tax Lawyer Blog

Covers federal and South Carolina state tax controversies and collections. By Turner-Vaught Law Firm, LLC

http://www.southcarolinataxlawyerblog.com/

Feb 18
Common Pitfalls on Income Tax Returns

A recent Forbes article shines some light on some common IRS audit issues. I encourage you to read the article, especially if you are going to be preparing your taxes soon. When the IRS and other taxing authorities review tax returns, there are many items that raise red flags. This article outlines a few of these items and provides guidance on how to avoid getting into trouble. The following subjects are covered: - Rules for Charitable Contributions - Substantiation of Employee Expenses - Using... Posted on February 18, 2009 at 07:27 am by W. Jackson Turner-Vaught
Feb 17
Economic Hardship and South Carolina Tax Liens

Walters v. South Carolina Department of Revenue Economic Hardship does not Justify Release of South Carolina Tax Lien. The taxpayer in this case owned a One Hour Photo Shop. For tax years 1996 through 2001, the taxpayer did not file South Carolina sales tax returns and did not remit sales taxes to the South Carolina Department of Revenue. The government caught up with him and issued proposed assessments based on estimates of the business' sales. The taxpayer did not answer some of the proposed... Posted on February 17, 2009 at 06:02 am by W. Jackson Turner-Vaught
Feb 2
Sales and Use Tax Seminar

The South Carolina Department of Revenue will host a Sales & Use Tax Seminar exclusively for the manufacturing industry. The press release states that the seminar is geared towards business managers, CFOs, accounts payable personnel, accounting staff members and tax professionals. The seminar will address the basics of the South Carolina Sales and Use Tax Act, the myriad of exemptions and exclusions applicable to manufacturers, what to expect if you are audited, and the electronic services... Posted on February 2, 2009 at 07:17 am by W. Jackson Turner-Vaught

Rank This Week: 3356

The Property Tax Blog

Covers tax decisions and property tax reform. By Jonathan M. Bernstein.

http://www.thepropertytaxblog.com/

Feb 7
Revaluation Appeal Deadline is May 1, 2009

If you live in a town in New Jersey that is having a revalution, the deadline to file your appeal in May 1, 2009. When a town performs a municipal revaluation, the assessment is at 100% of market value. The date of valuation is October 1, 2008. A property owner has the right to challange the assessor's valuation by filing an appeal by May 1, 2009. The appeal must be in the office of the County Tax Board or the office of the Administrator of the New Jersey Tax Court located in in Trenton, New... Posted on February 7, 2009 at 05:56 pm
Feb 1
Assessment Cards Are In The Mail

Tax assessment cards are now in the mail. Pursuant to N.J.S.A. 54:4-38.1, every municipal tax assessor, prior to February 1, shall provide, by mail, each taxpayer with the current assessment on the taxpayer's property and the property taxes that were levied on the property the preceding year. Thereafter, the assessor or county board of taxation shall notify each taxpayer by mail within 30 days of any change to the assessment. Accordingly, all property owners should now be on the lookout for... Posted on February 1, 2009 at 08:35 am
Jan 29
A State-Wide Reassessment of Homes?

A Letter from New Jersey Senator Robert Singer (R-30) and New Jersey Senate Republican Leader Tom Kean (R-21) was recently sent to New Jersey Governor Jon Corzine which urged a state-wide reassessment of homes. At first blush, such a proposal seems to violate the New Jersey Constitution's Uniformity Clause (art. VIII, sec. 1, para. 1(a)), as the proposal would irrationally treat residential and commercial properties differently. Nonetheless, it is a novel concept and one that only underscores... Posted on January 29, 2009 at 03:54 pm