How long does the Offer in Compromise process take?
- February 9th, 2016
- David Greene
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Let me make one thing clear at the outset, dealing with the IRS is not like dealing with your neighbor down the street or a local business. A submitted Offer will not be resolved in a matter of a few…
When can a business deduct gifts to Charities?
- February 5th, 2016
- David Greene
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Gifts to charities by a business are not alweays deductible, but in some cases they are. The IRS Chief Counsel recently issued an Advice Ruling in which he said that when a business conducts a promotion where it advertises that…
Are consumer tax return preparation programs right for everyone?
- February 2nd, 2016
- David Greene
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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
- January 29th, 2016
- David Greene
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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.
- January 26th, 2016
- David Greene
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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
- January 25th, 2016
- David Greene
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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?
- January 21st, 2016
- David Greene
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Money can be withdrawn from an IRA at any time for any reason, but if it is withdrawn before the owner reaches 59 ½ a 10% penalty will generally be imposed.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!
- January 20th, 2016
- David Greene
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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
- December 29th, 2015
- David Greene
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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
- December 24th, 2015
- David Greene
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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,…