Is “Filter X: to Blame? Background Perhaps you are one of the many taxpayers who are concerned that your refund took forever to be processed by the IRS. Your tax professional instructed you to … [Read more...] about Why Does It Take the IRS So Long to Issue Your Tax Refund?
IRS Tax Planning Ideas, Tips & News
Mileage Deduction Lost Despite Taxpayer Maintaining Mileage Log
“Tax Specialist” Fails to Sustain Schedule C Deductions When Audited by the IRS Background A married couple (H. Samadi, TC Summary Opinion 2018-27) included a Schedule C on their … [Read more...] about Mileage Deduction Lost Despite Taxpayer Maintaining Mileage Log
Annuity Annuitizations and RMDs
Many Say that Annuities Are Complex – Add Required Minimum Distributions (RMDs) to an Annuity and Confusion Reigns RMD Rules – Simplified Version Taxpayers who turn age 70 ½ on or after January … [Read more...] about Annuity Annuitizations and RMDs
“Novel” Argument that IRS Collections Violated Consumer Fraud Law
Taxpayer Argues that IRS Is Subject to Fair Debt Collection Practices Act (FDCPA) Background Edward T. Kennedy (2018-1 U.S.T.C. ¶50,290) claimed that the IRS's conduct when it assessed him for … [Read more...] about “Novel” Argument that IRS Collections Violated Consumer Fraud Law
How to Compute Cost Basis of Stock – Acquired Years Ago
How to Proceed When You Sell Stock Acquired or Inherited Many Years Ago and You Need to Know Its Tax Basis Background You decide to sell securities (“stock”) that you acquired 20 years ago or … [Read more...] about How to Compute Cost Basis of Stock – Acquired Years Ago
IRS Lacks Authority to Deny Disbarred, Suspended and Sanctioned Tax Preparers to Prepare Your Tax Returns
Disbarred Attorney Allowed by Law to Prepare Income Tax Returns If a tax preparer fails to file his/her federal income tax returns, fails to remit the taxes due, willfully fails to sign a tax … [Read more...] about IRS Lacks Authority to Deny Disbarred, Suspended and Sanctioned Tax Preparers to Prepare Your Tax Returns
