Does using a paid tax preparer guarantee a correct return?
- David Greene
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Unfortunately, the answer is “no.” Many preparers make mistakes from time to time for various reasons on both personal and corporate returns. In fact, the IRS recently released a study that found that 71% of S corporations who used paid…
Is a spouse responsible for the partner’s pre-marital tax debt?
- David Greene
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If one is single when the unpaid tax liability accrued, only the one who incurred the tax debt is responsible for paying those taxes. The IRS cannot take the other spouse’s property or levy her income to pay those taxes. …
Mistakes In Tax Return Preparation (Part 2)
- David Greene
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Recently I stated that I can think of ten mistakes that are most often made when preparing a tax return. In that blog I listed 5 and in this blog I will tell you the remainder. Here they are: (6)…
I was awarded our home in my divorce two years ago. Then last year the IRS assessed a large back tax debt against my husband and placed a lien on my house. Can they do this?
- David Greene
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I think we might be able fight this. If he had to transfer the house to you by Court Order and the tax wasn’t assessed against him until after the divorce, then the lien does not attach to your house. …
How To Choose A Tax Return Preparer
- David Greene
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I have more than a few clients each year who are audited and when I review their returns I can see where the tax preparer made mistakes because he/she did not understand the application of the rules. The IRS has…
What is Innocent Spouse relief in terms of IRS tax collections?
- David Greene
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In order to ascertain whether you are eligible for Innocent Spouse relief, we must look closely at the years in question. Were the unpaid returns filed as joint returns? You are responsible for taxes owed on any return you sign. …
Mistakes In Tax Return Preparation
- David Greene
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There are ten mistakes that are most often made when preparing a tax return. I’ll list 5 in this blog and 5 in my next one. The first five are: (1) forgetting to report all of your income (even if…
Can there IRS levy VA disability payments?
- David Greene
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There is a federal statute that generally protects VA disability income from attachment, levy or seizure. However, in a recent federal case from Colorado, the judge ruled that this statute does not apply to levies issued by the IRS so…
Are gifts to charity by a business deductible?
- David Greene
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They are not always deductible, but in your case I believe they are. You explained further that you conducted a promotion where you advertised that a portion of every sale would go to charity for a certain period of time. …
When can the 60 day rollover limit for IRAs be waived?
- David Greene
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The general rule is that if you take a distribution, it must be rolled over into another qualified plan within 60 days to avoid taxation and the 10% penalty. There has always been a “hardship” waiver for certain events causing…