Do not fall victim to 2020’s worst and most egregious IRS tax scams. They include new phishing email scams, fake charities, threatening and impersonating phone calls, social media scams, refund theft, senior citizen fraud, scams targeting those with limited English proficiencies, dishonest tax return preparers, bogus Offer in… Read More
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How to Tell your “Story” in IRS Offers in Compromise
I am often asked: how do you get an offer in compromise accepted? What is the most important thing to remember when submitting an offer in compromise? Tell your “Story” the right way! In 13 years of law practice and many successful Offers in Compromise, I tell you… Read More
Primer on IRS Resolution Options to Avoid Enforced Collections
Tax debt can be stressful and overwhelming with no end in sight. There are many options to consider, some better than others given your particular set of circumstances. Sometimes you need professional help to see the best course and sometimes you have self-help options to explore yourself. Whatever… Read More
New Net Operating Loss (“NOL”) Relief under the CARES Act
The Tax Cuts and Jobs Act of 2017, eliminated the old NOL rules of 2-year carrybacks, carryforward 20 years. Instead, it disallowed NOL carrybacks for all post-2017 losses and extended the 20 year carryforward to an unlimited carryforward (limiting the offset to 80% of taxable income). Now, under… Read More
Gambling Away Taxpayer Rights
IRS Notices with Expired Due Dates
The IRS should avoid to a soon-to-be distressing event for taxpayers. Professor Keith Fogg of Harvard Law (and head of its Tax Clinic) recently wrote an article discussing a time-bomb blog post by Erin M. Collins, the National Taxpayer Advocate. Professor Fogg details in good order her comments… Read More
Tax Time FAQs — July 15, 2020.
As a tax attorney, I’ve prepared countless tax returns. This short video discusses my “5” Frequently Asked Questions (FAQs) at tax time. Do I “really” have to file my past due tax returns? Will I get audited? Can I “estimate” my business expenses? Do I have to report… Read More