Posts Tagged ‘IRS’

How long does the Offer in Compromise process take?

  • February 9th, 2016
  • David Greene
  • Comments Off on How long does the Offer in Compromise process take?

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
  • Comments Off on When can a business deduct gifts to Charities?

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
  • 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 to fight IRS denial of your Earned Income Credit and exemptions.

  • January 26th, 2016
  • 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…

When can the 10% early withdrawal penalty for IRAs be avoided?

  • January 21st, 2016
  • 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Money can be withdrawn from an IRA at any time for any reason, but if it is withdrawn before the owner reaches 59 ½ a 10% penalty will generally be imposed.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…

HAPPY NEW YEAR

  • December 29th, 2015
  • 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

  • December 24th, 2015
  • 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,…

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