Archive for Blog

Is refusing to file taxes a criminal offense?

  • January 22nd, 2020
  • David Greene
  • Comments Off on Is refusing to file taxes a criminal offense?

This is an area that the IRS pursues very vigorously, so there are more people than one might think who do this.  Here I’m talking about people who take the position that taxes are illegal and do not need to…

Can one withdraw money from an IRA without incurring the 10% penalty?

  • January 15th, 2020
  • David Greene
  • Comments Off on Can one withdraw money from an IRA without incurring the 10% penalty?

Money can be withdrawn from an IRA at any time for any reason, but if it is withdrawn before the owner reaches 59 ½ a 10% penalty will generally be imposed.  However, there are certain circumstances where the 10% penalty…

Happy New Year ( a few days late)

  • January 6th, 2020
  • David Greene
  • Comments Off on Happy New Year ( a few days late)

I hope all of my readers had a very relaxing and joyous Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise.  Of course, the way to make those hopes and resolutions…

When is a theft or bad debt loss not deductible?

  • January 2nd, 2020
  • David Greene
  • Comments Off on When is a theft or bad debt loss not deductible?

You can claim a theft loss as a deduction only if there is no chance of recovering any of the amount stolen.  Here the IRS is probably lookiong at the possibility that the owner will have to pay restitution as…

Can an employee still deduct unreimbursed business expenses?

  • December 9th, 2019
  • David Greene
  • Comments Off on Can an employee still deduct unreimbursed business expenses?

Since the new tax law came into effect, employee itemized deductions for unreimbursed business expenses, including mileage, have been suspended.  However, self-employed individuals and certain employees (e.g. armed-forces reservists, certain state or local government officials, educators and performing artists) may…

What is the difference between a Power of Attorney and a Conservatorship?

  • November 26th, 2019
  • David Greene
  • Comments Off on What is the difference between a Power of Attorney and a Conservatorship?

These are two legal powers that, in many instances, accomplish the same purpose in two completely different ways.  I’ll discuss the Power of Attorney today and the Conservatorship next week.  There are several kinds of Powers of Attorney but the…

Is the Offer In Compromise program a scam?

  • November 20th, 2019
  • David Greene
  • Comments Off on Is the Offer In Compromise program a scam?

I’m happy to say that the Offer In Compromise program is not a scam and still works in the right circumstances.  In fact, I have already had several Offers accepted in 2019!  However, some unscrupulous people will take your money…

What is the Taxpayer Advocate Service and what does he or she do?

  • November 12th, 2019
  • David Greene
  • Comments Off on What is the Taxpayer Advocate Service and what does he or she do?

The Taxpayer Advocate’s office is a special position set up after the congressional hearings on the IRS revealed problems in how the IRS sometimes treats taxpayers.  There is a national taxpayer advocate office and also one in each state.  In…

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