From the July, 2014

Does Anybody Ever Win in an IRS Audit?

Ever wonder what the chances of winning in an IRS Audit might be? With 1 in 100 taxpayers being selected for an audit, there’s a small chance you’ll find out. But it you’re just […]

Offers In Compromise

And Offer in Compromise (OIC) is an option for paying less than the amount the IRS says you owe.  The IRS accepts an OIC when they agree that the assessed tax bill is not […]

What To Do If You Can’t Pay Your Taxes

It’s scary if you owe taxes and can’t pay them.  Rest assured though, you have no reason to be afraid or panic.  But you shouldn’t delay in doing something about it.   One of […]

IRS Collection Process

It can be a daunting experience if you have not paid your income taxes and the IRS is trying to collect taxes it claims are owed by you.  The IRS has a number of […]

Let Sleeping Dogs (or Creditors) Lie in Chapter 7 Bankruptcy Cases

It is a pervasive misconception among debtors in Chapter 7 bankruptcy cases that the debtor has a duty to enter a new contract with secured creditors in order to retain their vehicles, their home, […]

Israel, US Sign Tax Treaty

On July 3, 2014 Israel’s Finance Ministry announced that it had signed an agreement with the United States aimed at improving international tax law and implementing the U.S. Foreign Accounts Tax Compliance Act (FATCA). […]

Tax Exempt Status Application Now Easier

You have a cause for which you’re deeply concerned.  Or your child’s local sports team needs a tax exempt entity to better operate under a common organizational structure.  Internal Revenue Code 501(c)(3) tax-exempt status […]

Structuring Business Entities To Minimize Taxes

While it may seem unpatriotic to some, you are only required to pay the minimum amount of tax you owe under the tax laws.  Judge Learned Hand wrote in an oft-quoted tax case, “Anyone may […]

The IRS Report Card for 2014

With the majority of personal tax returns now filed, how did the IRS do compared to the prior tax year? Well, here are a few statistics just published by the IRS (processing dates are […]

The US Tax System – A Unique World View

The US is unique in its view that citizens should pay tax on money they earn anywhere in the world, even if they don’t live in the US. Most countries either tax their citizens […]