News - John R. Dundon II, Enrolled Agent
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Daniel N. Shaviro (NYU) has published The Optimal Relationship between Taxable Income and Financial Accounting Income: Analysis and a Proposal, 97 Geo. L.J. 423 (2009). Here is the abstract: The persistence of the book-tax gap, or excess of companies’ reported financial accounting income over their taxable...

1. If you receive a letter or notice from the IRS which leads you to believe someone may have fraudulently used your Social Security Number, respond immediately to the name and address or phone number printed on the IRS notice. 2. If you receive a letter...

There are two easy and convenient options for obtaining free copies of your federal tax return information - tax return transcripts and tax account transcripts - by phone or by mail. A tax return transcript shows most line items from the tax return (Form 1040, 1040A...

With many people facing additional financial difficulties, the IRS is taking several additional steps to help people who owe back taxes. They claim to ensure that they balance their responsibility to enforce the law with the economic real ities facing many American citizens today. They claim...

Since a hobby is something done for personal pleasure it is not a trade or business, should income be generated from a hobby the gross income is reported on Line 21, Form 1040. The cost of the materials used to make the item sold directly...

The Ninth Circuit affirmed the Tax Court (125 T.C. 281 (2005)) in holding that a couple's tuition and fee payments to their children's Jewish day schools do not qualify for the charitable deduction because they received a substantial benefit from their payments and lacked charitable...

In Revenue Procedure 2003-75, the IRS announced a separate set of luxury car depreciation limitations for trucks or vans that do not have a gross vehicle weight in excess of 6,000 pounds. In that revenue procedure, the IRS stated that the term "trucks and vans" referred...

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