Archive for Blog

Happy New Year

  • December 31st, 2013
  • David Greene
  • Comments Off on Happy New Year

I hope everyone reading this had a very nice 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

Offer in Compromise based on Effective Tax Administration

  • December 19th, 2013
  • David Greene
  • Comments Off on Offer in Compromise based on Effective Tax Administration

The Offer in Compromise based on Effective Tax Administration is available only if the taxpayer has the means to pay the tax in full but, due to public policy considerations, he is allowed to satisfy the debt in full by paying a small percentage of the total. The other requirement for this type of Offer

What is a Special Needs Trust?

  • December 10th, 2013
  • David Greene
  • Comments Off on What is a Special Needs Trust?

If a person qualifies as a special needs person and thus relies on State or Federal aid to take care of his needs, what happens if he gets a personal injury settlement, inheritance or other windfall? Normally the State or Federal Agencies will be entitled to all of that money for giving him aid.

What is an Offer in Compromise based on Doubt as to Liability?

  • December 3rd, 2013
  • David Greene
  • Comments Off on What is an Offer in Compromise based on Doubt as to Liability?

The Offer based on doubt as to liability is not very common, but is very useful in certain situations. To make an Offer on this basis, there must be a genuine dispute as to the validity of the taxpayer’s

Cancellation of Debt as Income

  • November 22nd, 2013
  • David Greene
  • Comments Off on Cancellation of Debt as Income

If a lender agrees to write off or cancel a portion of a debt in exchange for the borrower paying a percentage of the total debt, this is a cancellation of debt. This is similar to a deficiency write-off by a mortgage company when a house is foreclosed. The amount of the mortgage left unpaid is

What does the Taxpayer Advocate do?

  • November 6th, 2013
  • David Greene
  • Comments Off on What does the Taxpayer Advocate 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 general, I contact this office when I have tried to deal

Requirements for Non-Custodial Parent to take Dependent Exemption

  • October 29th, 2013
  • David Greene
  • Comments Off on Requirements for Non-Custodial Parent to take Dependent Exemption

I recently had a client who lost custody in Court but was awarded the dependent exemption for his taxes due to his income. He asked me if it was sufficient notice to the IRS to attach his Order to his tax return. If a taxpayer seeks to claim dependent children after a divorce but is not

Are taxes incurred due to illegal schemes eligible for Offer in Compromise?

  • October 22nd, 2013
  • David Greene
  • Comments Off on Are taxes incurred due to illegal schemes eligible for Offer in Compromise?

The Offer In Compromise program is available to anyone who owes back taxes, no matter how they arose. However, one must qualify financially and otherwise and one’s eligibility cannot be determined until the time to make the Offer. Please be very careful in looking at “tax free”

Obtaining Clear Title to Non-probated Property

  • October 21st, 2013
  • David Greene
  • Comments Off on Obtaining Clear Title to Non-probated Property

Consider the following scenario: A person inherited land from his father who died 11 years ago. The father inherited it from his father who died 25 years ago. Neither estate was probated. What can be done to give the grandson “clear title”. Clear title means that there is a definite chain

What is the Likelihood That You Will Be Audited?

  • October 16th, 2013
  • David Greene
  • Comments Off on What is the Likelihood That You Will Be Audited?

This is a difficult question to answer. The IRS computers use several criteria to target returns for audit, including if the current return shows much less income than the past year, an extremely high amount in deductions, or if the income and expenses exactly match. The IRS also targets certain

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