IRS Can Sidestep Taxpayers’ CDP Rights by Applying Overpayments
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
2d ago
Imagine that Congress sets out a remedy to curb IRS abuses. And further consider that after the taxpayer pursues the remedy, the rules allow the IRS to simply sidestep the remedy. So the remedy is no remedy at all. That is what we have in the Zuck v. Commissioner, No. 25125-14L (U.S.T.C. Apr. 6, 2022)… The post IRS Can Sidestep Taxpayers’ CDP Rights by Applying Overpayments appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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Tax Form Mixup Can Extend the IRS’s Statute of Limitations
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
2w ago
Suppose you file a tax return and, months or years later, you get a letter from the IRS saying that it will not accept the tax return. The IRS letter says that you used the wrong tax form. And maybe even change the facts so that the IRS mailed this letter to you, but you… The post Tax Form Mixup Can Extend the IRS’s Statute of Limitations appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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The “Effective Date” for Tax Rules
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
3w ago
At the end of every tax statute, there is language that specifies when the new tax rule is effective. Given the frequency with which Congress enacts new tax laws, often several times every year, one might think that there is no dispute as to the “effective date” language that it uses. One might think that… The post The “Effective Date” for Tax Rules appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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When the IRS Comes Knocking: Addressing Tax Fraud
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
1M ago
Tax fraud typically involves neglecting tax responsibilities, such as by not filing returns or evading tax payments, or engaging in deliberate actions to obstruct the IRS’s assessment or collection of taxes. The compliance problems that are later found to be tax fraud usually involve actions that pyramid over time. This timing issue arises as repeated… The post When the IRS Comes Knocking: Addressing Tax Fraud appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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The Stock Sale as a Sham Transaction
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
1M ago
Taxpayers are continually seeking ways to avoid or minimize their tax liabilities. And rightfully so, as taxes take a significant amount of profit or gain from any deal or effort. Take the case of a lawsuit award. You sue someone and settle or win the case. There are nuances, but generally, you are usually taxed… The post The Stock Sale as a Sham Transaction appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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Resolving IRS Taxes: What is “Future Income”?
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
1M ago
When it comes to tax rules and government administrative guidance, one may expect that the provisions are clear and can be easily applied. However, this is often not the case. Even detailed regulations with explanations may fail to provide readily discernible answers. Applying such rules to common situations can still lead to questionable or incorrect… The post Resolving IRS Taxes: What is “Future Income”? appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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When Can Your Tax Preparer’s Fraud Leave You on the Hook?
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
2M ago
Say you hire a tax return preparer and get your tax returns filed, and think that everything is fine. Then years later, say more than a decade later, the IRS shows up and asserts that your tax returns were fraudulent. You did not commit fraud and this is news to you, but the IRS asserts… The post When Can Your Tax Preparer’s Fraud Leave You on the Hook? appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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When is a Tax Return Not a Tax Return?
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
2M ago
The tax code commands the IRS to assess the tax reported to the IRS by a taxpayer on a non-fraudulent tax return. The provision is not optional for the IRS. It is mandatory. However, the tax law does not define what is fraudulent or what counts as a tax return. This begs the question as… The post When is a Tax Return Not a Tax Return? appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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The Unanswerable Discovery Request
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
2M ago
Have you ever been asked a question that you should probably know the answer to, but you don’t fully know the answer or have access to information to find the actual answer? This is a frequent occurrence when it comes to litigation and, in particular, tax litigation. The litigation discovery process involves exchanging relevant information… The post The Unanswerable Discovery Request appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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Using Estimates to Prove Business Expenses
Houston Tax Attorney Blog
by KD Mitchell, JD LLM
3M ago
Imagine this common scenario – you own a small business and incur a legitimate expense that you pay and have some record of. Years later the IRS audits and disallows the deduction for lack of receipts or other documentation. The auditor may request bank statements, which you provide, only to be told those are inadequate.… The post Using Estimates to Prove Business Expenses appeared first on Houston Tax AttorneysMitchell Tax Law ..read more
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