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
IRS Tax Planning Ideas, Tips & News
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
Tax Preparer Fails to File Extension To File Request and Taxpayer is Assessed $120,607 Penalty – Court Denies Abatement of Penalty
Procrastination Cost Taxpayer $120,627 Background Kristin Intress and Patrick Steffen (taxpayers) were a married couple who filed a joint return for the 2014 tax year. Taxpayers were … [Read more...] about Tax Preparer Fails to File Extension To File Request and Taxpayer is Assessed $120,607 Penalty – Court Denies Abatement of Penalty
IRS Reconstructs Income for Taxpayer Who Failed to File Tax Returns for Five Years
Lack of Adequate Records by Taxpayer Not a Deterrent to Preventing IRS from Reconstructing Taxable Income Background Francis Steffan Hayes [T.C. Memo 2019-147] failed to file his tax returns … [Read more...] about IRS Reconstructs Income for Taxpayer Who Failed to File Tax Returns for Five Years
Did You Know that your H&R Block Tax Preparer Works for the IRS?
Your Tax Preparer May Even Work for the Criminal Investigation Unit of the IRS Background The Treasury Inspector General for Tax Administration (TIGTA) found that as many as 2,200 IRS … [Read more...] about Did You Know that your H&R Block Tax Preparer Works for the IRS?
