Internal Revenue Service Commissioner John Koskinen unveiled the agency’s plan to create a voluntary tax preparer certification program. The lower court and the appellate court in Loving V. Commissioner ruled that the IRS did not have the authority to regulate preparers. However, the IRS remained undeterred in its quest to […]
Category: IRS
The proverb goes that nothing is certain but death and taxes. Even after death, your estate may need to pay taxes on the property transferred to loved ones. All the items receive a fair market value and become part of the “Gross Estate.” Property is a broad term. Some of […]
The original Bill of Rights in the United States is the first 10 amendments to the Constitution. These rights, such as freedom of the press and free exercise of religion, have been cornerstones of our country ever since. Given that the concept of a bill of rights is so well […]
The budget problems of the IRS have not only impacted the agency’s ability to offer customer service to taxpayers. Those problems have also affected the IRS’s capacity to conduct tax audits and perform other tax collection functions. As we noted in our March 11 post, the National Taxpayer Advocate has […]
The federal individual income tax filing deadline was less than a month ago. But given the complexities of federal tax law, there are also other filing deadlines besides that one. One of those other deadlines has historically been the June 30 deadline for filing the FBAR form. FBAR stands, of […]
This is a follow-up to a post we did a couple of months ago on the crazy-quilt world of same-sex income tax issues. As we noted in our February 26 post, the Supreme Court’s ruling against the federal Defense of Marriage Act was a game changer. It led to a […]
There is perhaps no better day than Tax Day – the day federal income taxes are due – to take note of your options for paying them. You probably know you need to file, because the penalty for failure to do so is significant. As we noted in our March […]
There’s not much time left before Tax Day. In fact, as of this writing, you have four days left until your tax return has to be in the mail to the Internal Revenue Service. However, what happens if you aren’t ready for the April 15 deadline? What if you lost […]
The due date for filing individual income taxes is now less than three weeks away. Many people have of course already filed their taxes. But what if, for whatever reason, you are struggling to meet the April 15 deadline? In this post, we will discuss some of the considerations and […]
It’s been awhile since we devoted a post on this blog to tax issues relating to implementation of the Affordable Care Act (ACA, also known on Obamacare). As we noted in our December 17 post last year, the IRS is deeply involved in this implementation. This involvement goes well beyond […]