TIGTA assesses how well IRS Examination function scrutinizes all open tax periods during audits [Audit Report No. 2009-30-034]: IRS Examination function employees do not always appropriately inspect and examine prior and/or subsequent year tax returns when warranted, the Treasury Inspector General for Tax Administration (TIGTA) said in a new audit.…
IRS not obligated to accept offer in compromise Bennett, TC Memo 2008-251 Mike Habib, EA The Tax Court held that the IRS did not abuse its discretion when it refused to accept the taxpayer’s settlement offer, which was higher than the amount it had calculated the taxpayer could pay. Instead…
Seventh Circuit classifies computer programmer as an independent contractor Suskovich v. Anthem Health Plans of Virginia, Inc., (CA 7 1/22/2009) 103 AFTR 2d ¶2009-385 The Court of Appeals for the Seventh Circuit, affirming a district court, has concluded that a computer programmer was an independent contractor and not an employee.…
IRS urged to issue pre-April 15 guidance for Madoff victims An influential voice in politics, former New York State Governor George Pataki, has asked IRS to issue pre-Apr. 15 guidance for victims of the Ponzi scheme alleged to have been perpetrated by dealer and advisor Bernard Madoff and his firm.…
While the new law tax changes in the Emergency Economic Stabilization Act of 2008 were the most significant developments in the final quarter of 2008, many other tax developments may affect you, your family, and your livelihood. These other key developments in the final quarter of 2008 are summarized below.…
IRS Speeds Lien Relief for Homeowners Trying to Refinance, or Sell their house Contact Mike Habib, EA to release your IRS Federal Tax lien The Internal Revenue Service announced an expedited process that will make it easier for financially distressed homeowners to avoid having a federal tax lien block refinancing…
As you can see from the article below, the IRS tax code is getting more complicated than ever. Further, the IRS‘s reach of audits has no limits. If you have a tax problem, can not pay your tax bill or is facing an IRS tax audit contact us now. Tax…
As you start to organize your records for your 2009 tax preparation, I thought you might find this brief rundown of 2009 tax changes useful. * ADOPTION TAX CREDIT increases to $12,150 for adoption of an eligible child. * SECTION 179 maximum deduction decreases to $133,000. Phase-out threshold is $530,000.…
No More Tax Problems in 2009 Mike Habib, EA Here is a New Year resolution you can’t afford to ignore… No more tax problems!! Yes, you can get rid of your tax problems in 2009. You can solve your tax problems and get tax relief through our tax resolution services.…
Taxpayer’s failure to timely file breached offer-in-compromise justified renewed collection action Trout, (2008) 131 TC No. 16 Mike Habib, EA The Tax Court has concluded that IRS didn’t abuse its discretion in finding that a taxpayer had breached his offer-in-compromise (OIC) and deciding to proceed with its collection efforts where…