» Tax Blog

Ten Things to Know about IRS Notices and Letters.

IRS Tax Tip 2014-60, April 22, 2014 Each year, the IRS sends millions of notices and letters to taxpayers for a variety of reasons. Here are ten things to know in case one shows up in your mailbox. To read more, click here: http://www.irs.gov/uac/New… Read More
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Categories: Tax Blog

An Offer in Compromise - an encouraging opinion!

I came across this LinkedIn post and would like to share it with my Tax Blog readers: “An Offer in Compromise is a valid alternative to a balance due case (in many circumstances)….”  by Frank Donahue, EA Tax Consultant/Tax Contr… Read More
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Categories: Tax Blog

IRS Collection Financial Standards as of March 31, 2014.

New IRS Collection Financial Standards IRS Collection Financial Standards are intended for use in calculating repayment of delinquent taxes. These Standards are effective on March 31, 2014 for purposes of federal tax administration only. Expense in… Read More
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Categories: Tax Blog

How to Avoid FATCA – Tips From Senator Levin

This is an interesting article about FATCA (by attorney Virginia La Torre Jeker) http://blogs.angloinfo.com/us-tax/2014/03/17/how-to-avoid-fatca-tips-from-us-senate-subcommittee/ Also, see the discussed report here http://www.acfcs.org/wp-content/up… Read More
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Categories: Tax Blog

IRS Exemptions for Dependents: IRS Publication 501.

I’ve been asked a couple of times about the applicability of the IRS Exemptions for Dependents. If you support your parents or siblings during their extended stays, you might be able to exempt up to $3,900 per person if you and your qualify… Read More
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Categories: Tax Blog

Post-Bankruptcy Survival of Federal Tax Liens On Property That Is Excluded From The Bankruptcy Estate.

I came across this very interesting article and would like to share it with the readers of my tax blog. The article was posted by Michael DeBlis III, Esq. and addresses the issues taxpayers face fighting the IRS tax lien imposed on property that w… Read More
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Owe Taxes? Undertanding IRS Collection Efforts.

This video describes IRS collection efforts and taxpayer’s rights during IRS collection process: http://www.irsvideos.gov/OweTaxes/ Read More
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Categories: Tax Blog

How to Survive an IRS Tax Audit: Tips from Bellevue Tax Attorney.

If you are singled out for the IRS audit, it is important to understand that not all inquiries are formal audits. Some are only the letters asking routine questions about math errors or data mismatches, while other inquiries – even if they are cond… Read More
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Categories: Tax Blog

European Union Law and Its Relevance to the U.S. Companies Doing Business in Europe.

The European Union (“EU”) is the world’s largest economic block, containing more than 500 million consumers and accounting for almost a fifth of global trade.  The EU is the most important market for American companies: the transatlantic marke… Read More
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Categories: Tax Blog

The First Time Abatement Program: tax penalty waiver of failure to file or failure to pay penalties.

As April 15th rolls around, most CPAs with high net worth taxpayers file automatic extension requests (Form 4868) on behalf of those taxpayers. While the IRS’s electronic filing program has made filing these extensions as easy as pushing a button,… Read More
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Categories: Tax Blog

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