Getting divorced is tough. Two lives joined together are split asunder and the last thing on anyone’s mind is taxes. However, understanding the impact of taxes on a property division is key to making sure a division of property is truly...
Getting Divorced? What You Need to Know About Your Unpaid Tax Liabilities. Getting divorced is unpleasant, even in the best of situations, and nothing can make it more unpleasant than when issues from the marriage continue to haunt the...
FBAR and FATCA are two laws impacting taxpayers with foreign assets. This post discusses the basics of both laws.
Identity theft and tax refunds are big business for fraudsters. To give you an idea of the scope of this problem, in 2015, from January through November, the IRS rejected or suspended the processing of 4.8 million suspicious returns -...
When dealing the the U.S. Government, you have rights such as the right against unreasonable search and seizure and the right to free speech as guaranteed by the Bill of Rights. Dealing with the IRS is no different but in addition to the...
If you owe money to the IRS, you face possible seizure of your assets such as wage garnishment or a bank levy. In some rare cases, the IRS can even foreclose on your home. This post is intended to give you some basic knowledge of what an...
Good question. On average you have less than a one percent chance, as an individual, of being audited by the IRS. Don't get complacent though, that figure is only part of the story. Only when you crunch the numbers does a more nuanced...
Children are a blessing and a curse (and not the least bit cheap!). It is nice to know that the Internal Revenue Code at least acknowledges your pain and provides some tax benefits to make raising a child more affordable. Now if only the...
Give and you shall receive, as the saying goes. If you are considering a year-end gift of money or property to a worthy charity, here are some tips on maximizing your charitable tax deduction: Keep good records! Regardless of the amount...
Divorce is tough. No doubt about it. So avoiding more bad news is probably a good idea. While I can't make divorce any easier here are some tips on avoiding tax troubles in your divorce: 1. Filing a joint return in your final year of...
In Re Giacchi, on appeal to the District Court E.D. of Pennsylvania Good question. The answer can mean a great deal to a debtor trying to discharge a stale tax debt. Mr. Giacchi, hailing from Pennsylvania, sought out bankruptcy protection...
Beck v. Commissioner, T.C. Memo. 2015-149 Filed August 10, 2015. Certain states may have legalized medical marijuana but Federal law still lists it as a controlled substance. This means that medical marijuana dispensaries are still...
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