Can mediation be used in IRS disputes?
- June 4th, 2019
- David Greene
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Yes the IRS will mediate certain cases and we will discuss some of those next week. However, I first want to explain what mediation is and why it works in many cases. Mediation, or Alternative Dispute Resolution, is simply a…
What are some of the most common Estate Planning errors that are made?
- May 29th, 2019
- David Greene
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There are many mistakes that are made in developing your Estate Plan, but here are some of the most important: (1) failing to name a contingent beneficiary on wills, insurance policies, etc., (2) not reviewing your beneficiary designations on a…
Is this a good time to file an Offer In Compromise?
- May 14th, 2019
- David Greene
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The answer is both yes and no. In general, i.e. in terms of “now” as opposed to several years ago, this is a good time to deal with the IRS. They have generally been more willing to compromise and make…
Requirement for a non-custodial parent to claim child.
- May 6th, 2019
- David Greene
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If a taxpayer seeks to claim dependent children after a divorce but is not the custodial parent, he must file Form 8332 with his return. This form must be signed by the custodial parent. Otherwise the dependency claim will be denied. …
When a payroll company fails to pay taxes for its customer is the customer company responsible for payment?
- May 3rd, 2019
- David Greene
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Thank you for your question. If you deposit your payments into the payroll company’s account to be paid by them then, yes, they are responsible for interest and penalties you will have to pay, but the IRS looks to you…
What proof is needed to support charitable deductions?
- April 30th, 2019
- David Greene
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Here are the rules: (1) You must have a written statement from the charity for a gift over $250 or at least a bank or credit card statement for any monetary donation; (2) gifts are deductible in the year made,…
What are some options for paying your taxes?
- April 10th, 2019
- David Greene
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Tax Day is in just a few days away and I hope all of my readers will file their returns by midnight on April 15. Even if you can’t pay, you should still file the return. If you can’t file…
What does “Not Processible” mean in terms of an Offer In Compromise?
- March 27th, 2019
- David Greene
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“Not processible” means that you failed to fulfill at least one of the many technical requirements to have to be met when filing an Offer, e.g. one is putting your initials and date in the bottom right corner on every…
Will it help to itemize deductions – Part 2?
- March 19th, 2019
- David Greene
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Last week I discussed the standard deduction changes and this week we’ll take a brief look at itemized deductions. Many deductions are still allowed but limited. Foreign income taxes, state and local real and personal property taxes, and state and…
Will it help to itemize deductions for 2018?
- March 14th, 2019
- David Greene
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That is a question that has to be answered on an individual basis. The new law in general will help many people and hurt many other “middle class” people. We have already seen that many are upset because their refunds…