IRS may require reporting of PAL activity groupings Mike Habib, EA Notice 2008-64, 2008-31 IRB 268 A new notice requests comments regarding a proposal to require taxpayers to report to IRS their groupings and regroupings of activities and the addition and disposition of specific activities within their existing groupings of…
Innocent spouse relieved of tax from embezzlement and forgery Yakubik, TC Summary Opinion 2008-74 Mike Habib, EA The Tax Court recently held that the IRS abused its discretion in not granting equitable innocent spouse relief to a husband whose wife embezzled funds from her employer and forged checks taken from…
Doctors get socked with big tax and penalties for donations tied to consolidation of their practice Berquistist and Kendrick, et al., (2008) 131 TC No. 2 Mike Habib, EA The Tax Court has determined that doctors grossly overvalued charitable donations of stock in their medical professional service corporation (PSC) that…
Facing an ever more aggressive Internal Revenue Service, Americans with tax debts should start 2008 with a fresh start and finally get rid of their looming tax problem(s). Are you asking yourself … If i have tax problems who should I contact? In case you hadn’t noticed, the taxman is…