Uncertain Tax Position Archives - Page 2 of 2 - John R. Dundon II, Enrolled Agent
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Uncertain Tax Position

10 Oct

Posted at 00:00h in Appeals & Audit Resolution, IRS Appeal, IRS Audit, IRS Enforcement, IRS Examination, Rental Real Estate, Tax Guidance & Preparation, Tax Problems & Requests, Uncertain Tax Position

Many taxpayers have both a dwelling unit and a principal place of residence.  Understanding the difference between the two is important for a wide variety of reasons.  The file that landed on my desk today involves such a matter.  The taxpayer has a dwelling unit...

25 Jul

Posted at 00:00h in Family, Foreign Income, Marriage, Offer In Compromise, Paying Taxes, Private Letter Ruling, Tax Guidance & Preparation, Uncertain Tax Position

The IRS issued three rulings in 2010 to address how the income of registered domestic partners in California should be reported and taxed for both state and federal income tax purposes. In Chief Counsel Advice 201021050, the IRS determined that for tax years beginning after December 31, 2006, registered domestic partners in...

09 Jun

Posted at 00:00h in Uncertain Tax Position

As set forth in the current drafts, an uncertain tax position includes a federal income tax position for which the taxpayer has recorded a reserve in an audited financial statement. It also includes a position where no reserve is reported either due to an asserted...

21 May

Posted at 00:00h in 1031 Exchange, Capital Gain, Capital Loss, Passive Activity, Paying Taxes, Rental Real Estate, Self Employ, Small Business, Sole Proprietor, Tax Guidance & Preparation, Taxable Income, Uncertain Tax Position

Question: Tax payer produced Form 1099-S from the sale of property she owned jointly with her brother. The Form 1099-S had the full amount reported to her and the brother did not receive a Form 1099-S. What should be done? Answer: The IRS explains in the...

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