Are consumer tax preparation programs right for everyone?
- January 10th, 2019
- David Greene
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Tax season officially opens January 28, 2019, so this is the time to think about preparing your taxes. The answer to the above question depends on the complexity of your tax situation. If you have only W-2 income and claim…
Can a Family Court Order stop the IRS from collecting delinquent taxes?
- January 8th, 2019
- David Greene
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Unfortunately, the answer to your question is no. Since the IRS is a federal agency, it is not bound by a state Family Court order. I assume you and he filed joint returns for the years in question. Therefore, you are…
HAPPY NEW YEAR
- December 31st, 2018
- David Greene
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I hope all of my readers had a very joyous 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…
Does a Personal Injury settlement have to be counted as an asset in an Offer in Compromise?
- December 12th, 2018
- David Greene
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Let’s look at the situation where, except for the settlement, you would be eligible for an Offer In Compromise based on doubt as to collectibility. In any Offer in Compromise, the IRS will require that you count the settlement as an…
What should you do when you receive a certified letter from the IRS?
- December 6th, 2018
- David Greene
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Many people are afraid to pick up a certified letter from the Post Office and are afraid to open it. However, you cannot help yourself by failing to act. Here is some advice on what to do when you receive…
Can one make one Offer In Compromise to cover both individual and payroll taxes? Part 2.
- November 29th, 2018
- David Greene
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Last time I answered this question for the situation where the company is unincorporated. This week we look at a small corporation where one or two people own all the stock. This analysis will usually also apply to an LLC…
HAPPY THANKSGIVING
- November 20th, 2018
- David Greene
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My staff and I want to take this opportunity to wish for each of you a very happy and joyous Thanksgiving and I want to thank you for being my clients, my readers and my friends. Instead of dwelling on…
Can one make one Offer In Compromise to cover both personal taxes and payroll taxes?
- November 13th, 2018
- David Greene
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Thank you for your question. I need more information to answer the question fully, but I will answer it for different scenarios in this week’s and a later column. The first situation is if your company is a sole proprietorship…
Can I be taxed in retirement? How?
- October 31st, 2018
- David Greene
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There are six primary ways you can be taxed in retirement: (1) Traditional IRA or 401(k) withdrawals – this money is always taxed when taken out, no matter at what age; (2) Social Security benefits – whether or not taxed…
Do reimbursements from my employer need to be included in my income?
- October 24th, 2018
- David Greene
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Under the 2017 Tax Cuts and Jobs Act reimbursements for moving expenses paid by an employer for most employees is to be included in income starting in 2018. This makes these amounts taxable for most employees, except for active-duty members…