Estate And Tax Planning Law Firm
We are finishing up our discussion of the Treasury Inspector General for Tax Administration's report to the IRS about the Fresh Start Initiatives. The Fresh Start Initiatives were introduced in 2011 in response to the financial crisis. Taxpayers were having more...
Treasury Inspector General for Tax Administration recently reviewed and commented on the IRS Fresh Start Initiatives. The program, introduced in 2011, streamlined and made small changes to processes involving offers in compromise, direct debit installment agreements...
When the economy tanked, the IRS proved that the government had a heart. Realizing that taxpayers were having a tough time paying off their tax debt, the agency announced that it would establish new processes and tweaking existing ones to make it a little easier. The...
Before you get too excited by the headline on this post, take a breath. It is a fact that the head of the Internal Revenue Service recently reported that his agency will be conducting fewer audits than usual this filing season. But they are not going away by any...
Most of our readers have heard the advice of seasoned attorneys regarding estate planning: get it done sooner rather than later. There is good reason for this advice. Engaging in early (and ongoing) estate planning can prevent a lot of problems, not only on a personal...
He rose like a sun from San Francisco, turning ideas about comedy inside out, backwards and upside down. Robin Williams' brilliant improvisational skills made him one of the brightest, enduring stars of American comedy. His death six months ago shocked and shook the...
Tax filing season starts on Tuesday, Jan. 20. As you prepare your return, or work with a tax professional to prepare it, don't forget that Congress renewed some important tax deductions and credits before adjourning. We discussed the mortgage debt exception in our...
We are circling back to our discussion of the tax extenders law passed by Congress just before the holidays. In our Jan. 5 post, we left off with a promise to talk about how a homeowner can handle an underwater mortgage. As a reminder, a mortgage is underwater when...
No one likes to discover they owe taxes after preparing their annual income tax returns. That unexpected obligation may interfere with a person’s monthly budget. Depending on the situation, a taxpayer may even be unable to pay the entire amount. When it comes to...
In mid-December, Congress finally acted on tax breaks that had expired at the end of 2013. The bill renewed deductions, credits and exclusions that taxpayers have come to rely on, but it is a good news/bad news law: The tax extenders were renewed for all of 2014 --...
