Taxes are something that we all have to pay at one time or another. Knowing what to do once you or your business has been notified that they will be subject to a tax audit can help simplify the process. Tax audits are not all that uncommon, a skilled Albany tax attorney can help. What Is a Tax Audit? When
Tax time is upon us and it is clear to some that you may owe money to the IRS. That being said, there are so many different options when it comes to repaying your IRS tax burden, and knowing what your options are can truly help. For those that are looking for help with tax settlements, the right lawyer can
Defining Tax Fraud Tax fraud is defined as the deliberate or intentional act of providing misinformation (or the omission of relevant data) on a tax return to limit one’s tax obligation. The term ‘willfully’ as used by the applicable New York Consolidated Laws (TAX Fraud Act § 1801 (a)) is as follows: The act of tax fraud can be committed
The Tax Cuts and Jobs Act, signed into law in December 2017, brought a multitude of changes to the Internal Revenue Code. We continue to learn more about the effects of this bill and its impact on real estate as the IRS continues to issue guidance and instructions on how to comply with the new law. This article will explore
The United States Supreme Court recently decided a case about the limits of a State’s power to tax a trust. In North Carolina v. Kaestner, Justice Sotomayor and a majority of the Court affirmed the decision of the North Carolina Supreme Court that it’s unconstitutional to tax trust income when the trust has nearly no connection with the state. The
It was 9 AM on an ordinary Monday, a hot and sunny day in Phoenix. My client Jim Carroll was working in his garage with the overhead door wide open when, unannounced, an IRS Revenue Officer appeared. He was there to attempt collection of unpaid taxes. Unlike the typical m.o. of Special Agents – the ones with the guns and badges who investigate criminal tax cases – he
“The IRS just gave me notice of levy regarding my bank account, and there is no way in the world that I can pay the $750,000 they say I owe!” your client exclaims. “Settle down,” you respond. “Thanks to the IRS Fresh Start Program there are reasonable remedies – what IRS calls ‘reasonable collection alternatives’ – including the Offer in
The Internal Revenue Service (IRS) is struggling to provide the basic levels of responsiveness to taxpayers, but Congress continues to add to the IRS’s responsibilities in areas that appear far outside the agency’s main job of raising revenue. The Affordable Care Act (ACA) is a prime example of a non-revenue raising job. While the IRS’s involvement in the ACA has
Taxes are something that we all have to pay at one time or another. Knowing what to do once you or your business has been notified that they will be subject to a tax audit can help simplify the process. Tax audits are not all that uncommon, a skilled Albany tax attorney can help. What Is a Tax Audit? When
Tax time is upon us and it is clear to some that you may owe money to the IRS. That being said, there are so many different options when it comes to repaying your IRS tax burden, and knowing what your options are can truly help. For those that are looking for help with tax settlements, the right lawyer can
Defining Tax Fraud Tax fraud is defined as the deliberate or intentional act of providing misinformation (or the omission of relevant data) on a tax return to limit one’s tax obligation. The term ‘willfully’ as used by the applicable New York Consolidated Laws (TAX Fraud Act § 1801 (a)) is as follows: The act of tax fraud can be committed
The Tax Cuts and Jobs Act, signed into law in December 2017, brought a multitude of changes to the Internal Revenue Code. We continue to learn more about the effects of this bill and its impact on real estate as the IRS continues to issue guidance and instructions on how to comply with the new law. This article will explore
The United States Supreme Court recently decided a case about the limits of a State’s power to tax a trust. In North Carolina v. Kaestner, Justice Sotomayor and a majority of the Court affirmed the decision of the North Carolina Supreme Court that it’s unconstitutional to tax trust income when the trust has nearly no connection with the state. The
It was 9 AM on an ordinary Monday, a hot and sunny day in Phoenix. My client Jim Carroll was working in his garage with the overhead door wide open when, unannounced, an IRS Revenue Officer appeared. He was there to attempt collection of unpaid taxes. Unlike the typical m.o. of Special Agents – the ones with the guns and badges who investigate criminal tax cases – he
“The IRS just gave me notice of levy regarding my bank account, and there is no way in the world that I can pay the $750,000 they say I owe!” your client exclaims. “Settle down,” you respond. “Thanks to the IRS Fresh Start Program there are reasonable remedies – what IRS calls ‘reasonable collection alternatives’ – including the Offer in
The Internal Revenue Service (IRS) is struggling to provide the basic levels of responsiveness to taxpayers, but Congress continues to add to the IRS’s responsibilities in areas that appear far outside the agency’s main job of raising revenue. The Affordable Care Act (ACA) is a prime example of a non-revenue raising job. While the IRS’s involvement in the ACA has
