Tax Court finds regs imposing time limit on request for relief from joint and several liability invalid Lantz, (2009) 132 TC No. 8 Mike Habib, EA Tax Relief & IRS Tax Help The Tax Court has concluded that Reg. § 1.6015-5(b)(1), which provides that a spouse must request relief under…
Recession Offers the Best Opportunity to Obtain Tax Relief American taxpayers are afforded the best IRS tax help in this financial crisis. Pasadena, CA –(PR.com) — The current financial crisis is the best time to get IRS tax help. Just recently, the IRS has announced that it will adopt a…
IRS posts Q&As on the Making Work Pay Credit Making Work Pay Credit: Questions and Answers, IRS Web Site IRS has posted a number of questions and answers (Q&As) on the Making Work Pay Credit (MWPC) on its web site. They are grouped into four categories: general issues, Form W-4,…
G-20 includes accounting reform in proposed overhaul of market regulation Mike Habib, EA Tax Relief & Tax Problem Resolution Summary: The heads of the leading 20 world economies called on accounting standard-setters to revise fair value guidance and adopt a single, global set of global accounting rules. The leaders also…
Roundup of recent employment tax related cases of interest Mike Habib, EA Tax Relief & Tax Problem Resolution Federal courts have recently issued rulings on: (1) whether medical residents may qualify for the student FICA exception, (2) whether an employee’s embezzlement was reasonable cause for failing to remit withholding taxes,…
Most Tax Procrastinating City in America Settle with IRS and resolve your tax problems by contacting the tax firm of Mike Habib, EA at 877-788-2937 or online at myirstaxrelief.com As reported by Intuit, maker of TurboTax. SAN DIEGO–(BUSINESS WIRE)–April 1, 2009–It’s the 50 yard dash to the April 15 tax…
Like-kind-exchange related party rule triggered gain recognition despite use of qualified intermediary Ocmulgee Fields, Inc. (2009) 132 TC No. 6 Mike Habib, EA Tax Relief Services The Tax Court has held that a taxpayer could not avoid the like-kind-exchange related-party rule by using a qualified intermediary. The taxpayer had to…
Adverse conditions may allow certain U.S. citizens to claim foreign earned income and housing cost exclusions [Rev Proc 2009-22]: Individuals who were forced to leave certain foreign countries in 2008 because of adverse conditions may still qualify as bona fide residents of that country for purposes of the IRC §911…
Subsidiary’s employment tax liability cannot be collected from the parent corporation [Chief Counsel Advice 200913052]: The IRS Office of Chief Council has expressed its opinion in a new Chief Council Advice (CCA) that the employment tax liability of a subsidiary corporation in a consolidated group cannot be collected from the…
IRS announces settlement offer for those that voluntarily disclose unreported offshore income Mike Habib, EA Tax Relief & Tax Resolution Services IRS Commissioner Doug Shulman has announced what is in effect a settlement offer for those that voluntarily and timely disclose unreported offshore income. Those meeting the terms of the…