How to Submit a Reasonable Cause Claim to the IRS for Penalty Abatement

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

How to Submit a Reasonable Cause Claim to the IRS If you have not filed your personal income tax form (1040) generally IMHO you should GET THE TAX FORM FILED ASAP without consideration for the yet to be assessed penalties.

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Posted in IRS Penalties, IRS Penalty and Interest Abatement

Navigating the Shoals of IRS Penalty Abatement – part 2 – types of defense

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

Navigating the Shoals of IRS Penalty Abatement - part 2 - types of defense. Now that you may have missed the income tax filing and payment deadline perhaps it is a good time to understand how to cope with penalization

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Posted in IRS Penalties, IRS Penalty and Interest Abatement

Navigating the Shoals of IRS Penalties

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

For those of us inclined to the proverbial 'head-bury' strategy with Big Brother, best to understand the civil penalties assessed when IRS systems catch up - as measured in tangible $$ out #ThePocket. For the brave of heart, navigating the

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Posted in IRS Penalties, IRS Penalty and Interest Abatement

5 IRS Penalties Changed Under the Tax Cut and Jobs Act of 2018

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

This post contains cocktail party killer one liners about how 5 IRS Penalties Changed Under the Tax Cut and Jobs Act of 2018. My editor also quipped that reading this post helps with insomnia as well. So if you are

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Posted in IRS Penalties, IRS Penalty and Interest Abatement

IRS Practitioner Liaison Meeting Notes January 2018 – Denver

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

Denver IRS Practitioner Liaison Meeting Notes January 2018... I wasn't able to be present at the this most excellent semi-annual event but did send one of my top trusted lieutenants who came back with the following notes and permission to

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Posted in IRS Appeal, IRS Audit, IRS Collections, IRS Criminal Enforcement, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Rev. Proc

W-2 Has Not (or perhaps will not) Arrive – YES that is a P.I.T.A.

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

So... W-2 Has Not (or perhaps will not) Arrive - YES that is a P.I.T.A. It’s tax time, and you need your Form W-2, Wage and Tax Statement, from your employer(s) to file an accurate federal tax return. You should

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Posted in W-2

Rollover of Retirement Plan Self Certification for Additional Time

Year End Tax Planning Starts with a Charitable Donation Assessment How Do You PLAN to Give Back Next Year?

Normally you have 60 days to complete a retirement plan rollover in order to avoid current taxation and more importantly, penalization. One of the most ridiculous things I have had to do with my limited time on this planet in

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Posted in IRS Penalties, Retirement

Reporting Casualties Under the New US Personal Income Tax Regimen – Thefts Not So Much

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

The new Tax Cuts and Jobs Act (TCJA) amends Internal Revenue Code Section 165 further restricting our ability as individual taxpayers to write off CASUALTY LOSSES going forward solely to 'disaster areas' as declared by the POTUS. Say whaaaat ?!?!?!?!?!?!?!? Effective immediately this new restriction

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Posted in Casualty Loss, Theft Loss

Three Ways the New US Tax Law Impacts Tax Exempt Organizations

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

There are indeed many ways the new US Tax Laws recently enacted will change up the social fabric of our society. This post addresses three ways the new US Tax law impacts tax exempt organizations. 1 - Excise tax on

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Posted in Non-profit, UBTI

Tax Reform – 20 Sound Bites To Fill the Air Over the Holidays

Year End Tax Planning Starts with a Charitable Donation Assessment How Do You PLAN to Give Back Next Year?

Like a good tax nerd I spent a beautiful Saturday reviewing the US House Tax Cuts and Jobs Act H.R. 1 Section-by-Section Summary.  For your impending confrontation with Drunk Uncle (or Aunt) over the holiday season, the following is what I've been

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Posted in Tax Guidance & Preparation, Tax Reform, Uncategorized
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