Category: Tax Planning & Compliance

There is no point in denying that legal services are not cheap. Fortunately, many types of legal fees (including most of the services provided by our firm) are tax deductible.  In this blog post, we will review some of the basic rules for deducting your attorney fees. The general rule...

Other Posts in this Series Background of Administrative Procedure Act Rulemaking Requirements Under the APA Judicial Review The Administrative Procedure Act - Challenging FBAR Penalties Tax regulations are subject to the Administrative Procedure Act (APA), and taxpayers are entitled to the protections afforded under the Act. In addition to the...

Your browser does not support the audio element. Ronn Owens interviewed Steve Moskowitz on June 28 and they discuss IRS priorities, including Foreign Bank Account Reporting and Employment Tax Enforcement. Steve and Ronn further discuss the history of individual tax rates and the Alternative Minimum Tax. Finally, Steve takes live...

A few years ago, comedian and television host Steve Harvey fashioned a new method of delivering legal documents. He apparently sent his ex-wife a box of Valentine's Day chocolates containing a romantic card and a court summons. Although many taxpayers might welcome it, the IRS isn't one to provide gifts...

Since 2009, the US Department of Justice has implemented an aggressive anti-tax evasion strategy that has changed by targeting tax havens that host financial intermediaries (i.e., banks) to the financial intermediaries themselves as well as individuals holding funds offshore. The criminal prosecutions of foreign banks and individuals with un-reported accounts...

At the end of last year, Congress passed the Fixing America's Surface Transportation (FAST) Act, which gives the IRS the power to revoke U.S. Citizen's passports, as well as contract with private debt collectors.  The FAST Act, signed into law on December 4, 2015, approved $305 billion in funds for...

Other Posts in this Series Part II: What Qualifies as Property of "Like-Kind"? Part III: The Pros and Cons of Like-Kind Exchanges Part IV: Common 1031 Exchange Audit Issues in California Like-kind exchanges, a hot topic in today's tax reform arena, actually originated hundreds of years ago -- farmers would...

Other Posts in this Series Part I: Background and Rationale Part II: What Qualifies as Property of "Like-Kind"? Part IV: Common 1031 Exchange Audit Issues in California Like-Kind Exchanges under IRC 1031 allow taxpayers to defer, and sometimes even avoid, capital gains taxes if they quickly replace the investment or...

Do your homework on back-to-school tax breaks Education tax planning can optimize the available breaks to save and pay for school expenses. Here are some tips: Saving for education Section 529 plans include prepaid tuition programs and college savings accounts. Prepaid tuition programs let you buy future tuition credits at...

Other Posts in this Series #1: Phone Scams #2: Phishing #3: Identity Theft #4: Return Preparer Fraud #5: Offshore Tax Avoidance #6: Inflated Refund Claims #7: Fake Charities #8: Hiding Income with Fake Documents #9: Abusive Tax Shelters #10: Falsifying Income to Claim Credits #12: Frivolous Tax Arguments Simply reviewing...