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House Limits IRS’ Authority with Revised RESPECT Act

On Tuesday, September 5, 2017, The House of Representatives went ahead and passed the Clyde-Hirsch-Sowers RESPECT Bill

FL Supreme Court Ruling Delays Foreclosures

In a recent ruling, the Florida Supreme Court stated that each monthly default on a

Tax Debt? Check Your Passport Status

The IRS and the Department of State have joined forces in battling outstanding

Europe the New Switzerland?

In the past few months, the Department of Treasury has been diligently working to expose those taxpayers who are seeking refuge

The Rich Might Get Richer

Now that Donald Trump has been elected as the United States’ next president, taxes are expected to extremely drop

ISAC – Coming January 2017

In an effort to better protect taxpayers from identify theft and tax return fraud, the IRS will release its new alert system this coming year.

IRS or Scam?

As the IRS prepares for the release of its new private debt collection program, concerns have begun to surface regarding the program’s effectiveness.

Estates Entitled to Theft Loss Deductions

In a recent case involving an estate that underwent extreme loss due to theft (see Estate of Heller v. Comm’r, 147 T.C. No. 11 (2016)), the Tax Court declared that estates are eligible for theft loss deductions, even when the theft occurs to a company owned by the Estate.

Limited Partner’s Capital Income is Not Self-Employment Income

After a recent incident that tested the boundaries and definition of Tax Code Section 1402(a)(13), the IRS has reiterated the fact that managers and/or presidents of LLCs are not considered limited partners and thus must pay self-employment tax on any received shares from their companies.

401K Contribution Standards Remain Unchanged for 2017

The IRS recently released Notice 2016-62, which lists the new limitations on various benefits and contributions for 2017.