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IRS Archives

How the IRS is even worse for same-sex couples

Nobody in California -- or anywhere else, for that matter -- enjoys working with the Internal Revenue Service. Filing taxes is complicated, and hearing from the IRS after the fact is rarely a good thing unless they're giving you money back. With the recent changes in laws regarding same-sex marriage, however, the LGBT community may be the IRS's biggest foe. 

IRS challenged by late billionaire's estate

Billions of dollars are at stake in a recently filed petition which claims that the IRS overvalued certain assets that belonged to late billionaire and former NBA team owner Bill Davidson. The petition, filed on behalf of Davidson's estate, alleges that the deficiency notice handed down by the IRS does not reflect the staggering loss in value that his stock holdings took at the time of the billionaire's death. The litigation will go to the U.S. Tax Court and its outcome could hold the key to how similar cases are handled here in California.

Tax breaks available for people with disabilities

Tax season is upon us, which means its time to gather your receipts, review your accounts and get to work on your annual return. It can be difficult to determine which deductions and credits you may qualify for, and those factors may seriously effect the outcome of your return. Fortunately, people with disabilities recently received some guidance from the IRS about deductions and credits that may help. There are several types of disability benefits, including Veterans Administration benefits and Supplemental Security Income, are exempt from gross income for the purpose of calculating tax. That could mean a lower tax bill overall. In addition, if a disability requires you to incur extra business expenses, those expenses may be claimed.

How gifting can help you save on taxes

Everyone wants to lower the amount of taxes they are required to pay in a year and get that maximum refund in the spring. With filing season upon us, you may be thinking of ways to get the most bang for your buck this year - while avoiding the dreaded IRS audit.

Tips from the BBB on how to select a tax preparer

It is that time of year again when Alameda residents and others around the country begin to think about preparing and filing income tax returns. With tax laws constantly in flux these days it can be a good idea for many who do not normally enlist the services of a professional tax preparer to consider doing so this year. As previously reported, the fiscal cliff has resulted in a number of changes to tax law that could affect many.

Avoid IRS tax on unpaid mortgage debt with a short sale: going fast!

There is not much time left, but those in San Francisco who can take advantage of a short sale before the end of 2012 would be wise to do so. A number of tax law changes are about to take place on January 1, 2013, if Congress does not act - which it seems unlikely to do.

Internal Revenue Service sued for non-enforcement of ban

Just two weeks ago we posted about the lack of IRS enforcement of the tax code which restricts religious institutions from making political endorsements, or risk losing their nonprofit status. Not only has the lack of enforcement by the IRS not gone unnoticed, it has generated a reaction from a group of non-religious people seeking to force the IRS into compliance.

Congress considers credit bureau alerts for unpaid taxes

In previous posts we have mentioned that the Internal Revenue Service is attempting to crack down on those with unpaid taxes. Whether it is someone who made an honest mistake or it is well-planned tax evasion, the IRS is going after unpaid income taxes.

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