by Michael W. Blitstein, CPA IRS has thrown in the towel on pursuing some innocent spouses for back taxes. The Service historically required a taxpayer who claimed it was inequitable to be held liable for unpaid tax attributable to their spouse, to seek relief within two years of the date IRS began its collection activity. […]
Tax Services
by Larry Goldsmith, C.P.A., J.D., C.F.F.A. Just a brief note to let people know that this is an excellent time to work out unpaid tax obligations with the Internal Revenue Service. I recently negotiated what I think are excellent settlements for two clients: 1. A real estate developer and contractor with $1,000,000 of payroll tax […]
by Robin Mandell, CPA Many states are becoming aggressive in taxing corporations based on the privilege of conducting business or deriving income within a state. Florida has just ruled on a case subjecting a corporation to income tax even though it has no physical presence in Florida. A corporate taxpayer had nexus with Florida and […]
by Larry Goldsmith, C.P.A., J.D., C.F.F.A. The Internal Revenue Service recently announced that it will extend help to more innocent spouses by eliminating the two-year time limit that now applies to certain relief requests. “In recent months, it became clear to me that we need to make significant changes involving innocent spouse relief,” said IRS […]
by Matthew Bergman, CPA The IRS has released the 2010 version of Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan, which some plans must file by July 31, 2011. The new form reflects a new type of pension plan that first became available in 2010. It also reflects some changed administrative […]
by Larry Goldsmith, C.P.A., J.D., C.F.F.A. The income tax system that we grew up with is suffering from dementia; it forgot that the purpose of taxation is to fairly tax individuals and businesses to support the funding of government services. Today, highly paid tax attorneys are retained to influence Congress to provide loop holes in […]