Why a Tax Attorney’s Advice is Important: Case Study – Cavallaro

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. While the dollar amounts involved in this case may seem beyond reach for most individuals and businesses, the underlying issues are relatively common and demonstrate the importance of obtaining quality tax representation for business succession planning, estate tax planning and more.

You can check out the article here.


CRIMINAL TAX CORNER: IRS Warns of Telephone Scams We have reported before and now again that we have received countless calls from frantic individuals that have been the victim of a scam.

Now, the IRS has issued the following warning:

The IRS has seen a recent increase in local phone scams across the country, with callers pretending to be from the IRS in hopes of stealing money or identities of victims. These phone calls include many variations, ranging from instances from where callers say that the victims owe money or are entitled to a huge refund. Some calls can threaten arrest and threaten a driver’s license revocation. Sometimes these calls are paired with follow up calls from people saying that they are from the local police department or the state motor vehicle department.

Characteristics of these scams can include:

  • Scammers using fake names and IRS badge numbers. They generally use common names and surnames to identify themselves.
  • Scammers may be able to recite the last four digits of a victim’s Social Security Number.
  • Scammers may intimidate the IRS toll free number on caller ID to make it appear that it is the IRS calling.

After threatening victims with jail time, scammers hang up and others soon call back pretending to be from the local police, and the caller ID supports their claim.

If you get a phone call from someone claiming to be from the IRS, here is what the IRS recommends: If you know you owe taxes call the IRS at 800-829-1040 (or call us). If you know you don’t owe taxes or have no reason to think that you owe any tax, then call and report the incident to the Treasury Inspector General for Tax Administration at 800-366-4484.

Don’t hesitate to contact us if you are worried about your tax situation. We can help!