Tax Relief BlogIRS not obligated to accept offer in compromise
Bennett, TC Memo 2008-251
Articles Posted in Tax Controversy
Independent contractor tax relief
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.
Madoff IRS Tax Relief
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. Separately, members of the Senate Banking Committee will ask IRS to set up a special unit for Madoff victims.
Guidance sought in three areas. In a Jan. 12, 2009, letter to Eric Solomon, Assistant Secretary for Tax Policy, George E. Pataki, now a partner with Chadbourne & Parke, LLP, asked that IRS issue guidance before Apr. 15, 2009, on the following issues pertaining to Madoff victims:
Release your federal tax lien
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 of mortgages or the sale of a home.
Tax Controversy
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 problem complicates Geithner’s confirmation process
As reported by the Los Angeles Times
Many senators want a better explanation from Obama’s would-be Treasury secretary about past underpayments. His hearing is delayed till after the inauguration.
No More Tax Problems
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.
Offer In Compromise
Taxpayer’s failure to timely file breached offer-in-compromise justified renewed collection action Trout, (2008) 131 TC No. 16
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 the OIC made timely filing and payment of tax an express condition of the agreement.
Tax Relief Roadmap
A roadmap to disaster area tax relief in 2008 legislation
The 2008 calendar year has seen more than the usual share of natural disasters in the U.S., and legislation designed to provide tax relief to the victims. By and large, legislative relief has been granted on an ad-hoc basis, with an attempt made in the last go-around (tax provisions included with the Emergency Economic Stabilization Act of 2008, referred to here as the Bailout Act, P.L. 110-343) to provide “national” disaster relief. Inevitably, there are some overlapping tax relief provisions and as-yet unanswered questions on the scope of the relief and the interplay between national relief provisions and other relief provisions. This Practice Alert, to be issued in several parts, provides practitioners with a roadmap to disaster-related provisions that may provide significant tax relief to their business and individual clients.
Expat Tax Help
IRS boosts 2008 housing cost allowances for those working abroad in high-cost areas Notice 2008-107, 2008-50 IRB
A new Notice effectively increases the maximum housing cost exclusion for U.S. citizens and residents working abroad in specified high-cost locations. The increases are based on geographic differences in foreign housing costs relative to U.S. housing costs.
S Corp Officer Pay
Fact sheet explains wage compensation of S corporation officers Fact Sheet 2008-25
A recently released IRS fact sheet provides useful information for S corporations and their owners concerning the proper tax treatment when corporate officers perform services for the entity. Specifically, it explains the proper employment tax treatment of payments made to officers of S corporations and how 2% shareholder-employees treat company-paid health insurance premiums.
