From the az tax attorney Tag

Energy Incentive Credits

Most everyone seeks to conserve energy and use it wisely.  There are a number of provisions in the Internal Revenue Code that encourage individuals to be energy smart.   Residential Energy Efficient Property Credit […]

Property Valuation Issues

Valuing a piece of property where there is not a readily available market price available can be difficult.  And issue may arises when you make a gift of this property to a loved one […]

Loss of Tax Records Due to Disasters

Recently the IRS issued an updated advisory on the importance of maintaining and safeguarding tax records.  The release was timed to coincide with the start of hurricane season.  While not everyone lives in a […]

IRS Contractors and Summons Material

The IRS has clarified its rules regarding when an IRS contractor may receive material on behalf of the IRS that was produced in response to an IRS summons.   The IRS has amended its […]

Frivolous Tax Arguments

The IRS recently issued a list of the latest tax scams and frivolous tax arguments it sees in the Tax Court and the IRS appeals process.  These arguments have never worked, nor will they […]

Supreme Court Allows Maximum Penalty

The U.S. Supreme Court recently ruled that even though a taxpayer invested in a tax shelter based on advice that turned out to be incorrect, the IRS is still able to assess the maximum […]

Virtual Currency Treated As Property by IRS

The Internal Revenue Service recently released their views on the proper tax treatment of virtual currencies such as bitcoin.  These virtual currencies are often used as a medium of exchange for payment for goods […]

IRS Ramps Up Use of Summonses to Gather Taxpayer Information

A recent uptick in IRS summons litigation indicates an increase by the Service’s use of summonses to gather information and accelerate investigations.  This has been confirmed in a speech given by IRS officials at […]

IRS Announces Fast Track Settlement Program For Small Businesses

The IRS has announced a program for small businesses that is similar to the Large Business Fast Track Settlement (FTS) Program.  The IRS’s stated goal of the FTS is to “ resolve tax differences at […]

Matters of the HEART (Act) – Part Five

This is the fifth, and final, in a series of blogs discussing the rules for expatriates under the 2008 Heroes Earnings Assistance and Relief Tax (HEART) Act. Prior blogs regarding this topic have discussed […]