Are consumer tax return preparation programs right for everyone?
- David Greene
- Comments Off on Are consumer tax return preparation programs right for everyone?
The answer depends on the complexity of your tax situation. If you have only W-2 income and claim the standard deduction, you can probably prepare your own tax return or the available programs would be fine. However, if you claim…
How the IRS deals with Offshore Accounts
- David Greene
- Comments Off on How the IRS deals with Offshore Accounts
If you receive a letter from a revenue agent about an offshore bank account or credit card you need to be very concerned. The fact that this letter comes from a revenue agent (as opposed to a revenue officer) means…
How to fight IRS denial of your Earned Income Credit and exemptions.
- David Greene
- Comments Off on How to fight IRS denial of your Earned Income Credit and exemptions.
Many people find their Earned Income creit and/or claim for exemptions for relatives denied by the IRS each year. This usually arises in the context of recently separated or divorced parents. Both will claim the exemption and credit and the…
Successful seminar
- David Greene
- Comments Off on Successful seminar
Hope everyone had a good time in the snow. We had a great Estate Planning seminar and meal last Thursday evening before the snow. Some very good questions were asked, which showed that the attendees were involved and interested. We…
When can the 10% early withdrawal penalty for IRAs be avoided?
- David Greene
- Comments Off on When can the 10% early withdrawal penalty for IRAs be avoided?
Money can be withdrawn from an IRA at any time for any reason, but if it is withdrawn before the owner reaches 59 ½ a 10% penalty will generally be imposed.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…
Ever hear taxes are illegal? Don’t buy it and stop filing or face criminal charges!
- David Greene
- Comments Off on Ever hear taxes are illegal? Don’t buy it and stop filing or face criminal charges!
This is an area that the IRS pursues very vigorously, so there are many people who try this and get caught. These people and groups generally fall into two categories: the promoters and the victims. The promoters are willful violators…
HAPPY NEW YEAR
- 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 resolutions come true is…
MERRY CHRISTMAS
- David Greene
- Comments Off on MERRY CHRISTMAS
Dear Readers, For this Christmas week edition of my blog, I would like to pay honor to this most wonderful season of the year. My favorite cartoon character is Snoopy from the Peanuts cartoon. He went on many imaginary adventures,…
Is an Offer in Compromise ever a solution if the taxpayer has enough funds to pay in full?
- David Greene
- Comments Off on Is an Offer in Compromise ever a solution if the taxpayer has enough funds to pay in full?
There is a type of Offer that can be used in certain situations. I am referring to the Offer based on Effective Tax Administration. It is appropriate when the taxpayer has the funds or assets to pay the amount owed,…
What’s the difference between a Power of Attorney and a Conservatorship?
- David Greene
- Comments Off on What’s the difference between a Power of Attorney and a Conservatorship?
As I stated in my last blog these are two legal powers that accomplish the same purpose in two completely different ways. I discussed the Power of Attorney in my last blog and will cover the Conservatorship in this blog….