As published in the Winter Park/Maitland Observer, Thursday Jan. 3, 2012 Edition Offers... Read More »
Articles from December 2010
Top Gun’s Iceman Owes IRS $500,000
The Associated Press reports that the man who played Iceman to Tom Cruise’s Maverick in the movie 1986 blockbuster Top Gun has a tax problem: Val Kilmer owes nearly $500,000 in federal taxes, and a lien has been placed on the “Batman Forever” actor’s property, including a New Mexico ranch he’s trying to sell. The Internal Revenue Service…
Read Full Article Categorized in: IRS Liens and Levies, NewsAttorney-Client Privilege Guaranteed
Confidential Consultation – Privileged Communications – Privacy Protection
Read Full Article Categorized in: Feature, Features galleryIRS Voluntary Disclosure Amnesty
Avoid Criminal Charges - Limit Penalties – One-time Opportunity for Offshore Account Holders
Read Full Article Categorized in: Feature, Features galleryIRS & State Tax Disputes
Criminal Tax Defense – IRS Collection Disputes – IRS and State Tax Audits – United States Tax Court
Read Full Article Categorized in: Feature, Features gallerySolving Tax Problems Since 1992
Tax Settlements – IRS Lien & Levy Relief – Penalty Relief – IRS Payment Plans – Criminal Tax Defense
Read Full Article Categorized in: Feature, Features galleryTax Happy Oregon to Raise Gas Tax
We’ve written before about the tax-hiking brain surgeons running the State of Oregon. Now CNN Money reports that, Oregon drivers may get an unpleasant shock when they pull up to the pump in the new year. Drivers there are already paying an average of $3.06 per gallon, but in the new year the state Department of…
Read Full Article Categorized in: State TaxesBack Taxes and Bookkeeping
Unfiled Returns – Payroll Taxes - Income Taxes – Record Keeping – Financial Statements
Read Full Article Categorized in: Feature, Features galleryWebsite Names IRS Auditor, Says “I Pray He Dies Very Soon”
Here’s one of the entries I found on a fledgling website called IRS Doghouse that tells you all you need to know about the indecency and possible criminality of the site (the emphasis is mine): IRS Employee Name: Mr. [I Removed the Name] Employee Position: Tax Compliance Officer Characteristics: Antagonistic, Arrogant, Been a Government Employee “Too Long”, Belligerent, Can’t…
Read Full Article Categorized in: IRS Procedure, Tax CrimesPreparer Registration Update: Relief for Non-Signing Tax Preparers
Paul Bonner of The Journal of Accountancy reports that IRS Commissioner Doug Shulman said the Service would probably provide relief from proposed testing and continuing education requirements for nonsigning tax preparers working under the supervision of a CPA or other federally authorized tax practitioners, such as an attorney or enrolled agent, in a CPA or other…
Read Full Article Categorized in: News, Regulation of Tax PreparersTax Court: Capital Gains Properly Reclassified as Ordinary Income in Sale of Business
CPA Charles J. Reichert writing for the Journal of Accountancy says that the Tax Court in James P. and Joan E. Kennedy v. Commissioner, TC Memo 2010-206 has ruled that in some cases a sale of business assets will generate ordinary rather than capital gain income (emphasis added): The Tax Court held that payments to a taxpayer from the sale…
Read Full Article Categorized in: Business Transactions, Court CasesRich Liberals Say Give the Tax Cuts Back
William Jacobsen of Le-gal In-sur-rec-tion directs rich lefties who opposed the extension of the Bush tax cuts to a website that helps them calculate their tax savings as a result of the cuts so they can donate that amount to charity: Three law professors have established a website (h/t RightCoast via Instapundit) where people can calculate how…
Read Full Article Categorized in: NewsOrlando Business Journal: New Tax Bill is Good for the Economy
Bill Orben of the Orlando Business Journal reports that local CPAs and economists think the Obama tax bill will stimulate the economy: At best, the $858 billion tax-cuts package passed by Congress will spur economic growth by putting more money in the pockets of individuals and companies. At worst, the tax package that awaits the signature…
Read Full Article Categorized in: Tax Policy, The EconomyEarmark Hypocrisy?
James Maule has observed that some congressional opponents of earmarks are themselves benefactors of earmarks: The practice of opposing earmarks while making use of them has riled some members of Congress. The best quote, reported in this story, among others, comes from Senate Majority Leader Harry Reid. Reid noted that some of those who speak out against…
Read Full Article Categorized in: Legislative Watch2011 Payroll Tax Relief
One of the more talked about provisions of the tax bill signed into law yesterday by President Obama is the temporary payroll tax reduction. WebCPA reports that the IRS has already issued guidance on the relief measure: Millions of workers will see their take-home pay rise during 2011 because the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation…
Read Full Article Categorized in: Employer Issues, Individual Taxation, IRS ProcedureHouse Passes Obama Tax Deal 277-148
CBS News reports that the House of Representatives voted late last night to pass the Obama tax deal which, among other things, will extend the Bush tax cuts for all American taxpayers: Acting with uncommon speed, Congress sent President Obama sweeping, bipartisan legislation late Thursday to avoid a Jan. 1 spike in income taxes for millions and renew jobless…
Read Full Article Categorized in: Legislative Watch, News, Tax Policy