IRS Issues New Guidance on Voluntary Disclosures

Posted on by Erin Humbles Posted in Estate Planning & Taxation, Tax Planning & Compliance
With the end of the Offshore Voluntary Disclosure Program (OVDP), the IRS has provided new guidance for taxpayers facing charges of tax evasion to come into compliance with their reporting requirements and avoid criminal prosecution. On November 20, 2018, the Treasury Department issued new guidance for U.S. taxpayers who have...
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Save Now While Saving for Later: Retirement Funds and Year-End Tax Planning

Posted on by Erin Humbles Posted in Tax Planning & Compliance, Estate Planning & Taxation
The new tax law did not change the rules regarding retirement plan contributions and their limits. Taxpayers can still lower their taxable income by making contributions to their retirement savings plans before year-end. The Employee Benefit Research Institute’s 2018 Retirement Confidence Survey indicates that only 32% of retirees are “very...
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Reduce Your Tax Bill With Year-End Charitable Giving

Posted on by Erin Humbles Posted in Business Law, Estate Planning & Taxation, Tax Planning & Compliance
There are many reasons that people donate to charities and the charitable giving tax deduction has always been one of them. However, by eliminating many other itemized deductions and increasing the standard deduction, the new tax law has reduced the tax incentive for charitable giving. Many taxpayers feel that they...
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Why a Tax Attorney’s Advice is Important: Case Study – Cavallaro

Posted on by Erin Humbles Posted in Estate Planning & Taxation, Tax Planning & Compliance, Tax: Audits, Litigation & Collection
Estate Planning, Gift Tax, Business Succession, and the Ability to Rely on Advice of Counsel JD Supra Business Advisor recently published our case study on the Tax Court Opinion in the Cavallaro matters - a true rags to riches story involving taxation, and why a tax attorney's advice/representation is important....
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Why a Tax Attorney’s Advice is Important: Estate Planning, Gift Tax, Business Succession, and the Ability to Rely on Advice by Counsel

Posted on by Erin Humbles Posted in Estate Planning & Taxation, Tax Planning & Compliance
Case of the Week: Cavallaro A recently published tax court opinion provides us with a fascinating case involving a rags to riches story of a tightly-knit hardworking family and the creation, merger and eventual sale of two related family companies. It hit our radar because of the impermissible tax position...
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Special Issue: 2014 Tax Planning Roundup

Posted on by Erin Humbles Posted in Tax Planning & Compliance, Estate Planning & Taxation, Real Estate Law
What's Inside Planning: Year-End Investment Tax Planning Year-End Charitable Tax Planning Year-End Family Tax Planning Year-End Retirement Tax Planning Year-End Estate Tax Planning Year-End Business Tax Planning Tax Calendar Dear Client, Colleague, or Tax Enthusiast, Having just finished the extended 2013 tax filing season, we are aware of the very...
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