IRS COVID-19 Tax Relief and the People First Initiative

Coach Saban wins a Tax Court case against the IRS involving a worthless debt on $2 million dollars he had loaned for a real estate construction project.

Sellers who use Ebay and Paypal or other payment processors may receive Form 1099-Ks.

Most people never pay estate taxes because of the exemptions that apply to the tax, and the estate tax exemptions for 2015 and 2016 may save taxpayers millions of dollars. that would otherwise go to the IRS. How much is the estate tax exemption for 2015 and 2016? 

Under federal rules, anyone who receives an insurance subsidy must file a tax return to verify that the person was eligible and received the proper amount of financial assistance based on household income.  There is the risk of loss of health insurance subsidies for failure to file tax return.

As we approach another tax season, an area of taxation that can be complicated for taxpayers involves the tax treatment of irrevocable trusts.

An offer in compromise allows you to settle your tax debt for less than the full amount you owe. 

The IRS has announced updated procedures for taxpayers to file overdue FBAR (Foreign Bank Account Report) foreign account disclosures.  

Self-employed individuals and employees who work out of their home are allowed to deduct business expenses relating to part of their home.

Pension benefits and retirement savings often constitute a client’s most valuable assets, and are viewed as a safety net.