A friend of mine had a new house built a few years ago. We always seem to be in the midst of some kind of remodeling project, so I had asked him about his selection of appliances, cabinets, carpet, fixtures and windows. I was a bit surprised by his response. He said he was not going to have finishes put on his house prior to moving in, as he was going to do it himself over time. That was several years ago. His house is still not finished and the work that has been done does not look safe.Many
Tax Articles
IRS Budget Constraints Continue to Make Resolving Cases Difficult
The IRS’s budget constraints have made it more difficult for taxpayers to resolve IRS problems. This is especially true for the work that it has shifted to IRS service centers to be worked remotely. The Wang v. Commissioner, T.C. Memo. 2016-123, case provides an example of this. Mr. Wang is a real estate agent for […]
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IRS Budget Constraints Continue to Make Resolving Cases Difficult
The IRS’s budget constraints have made it more difficult for taxpayers to resolve IRS tax debt problems. This is especially true for the work that it has shifted to IRS service centers to be worked remotely. The Wang v. Commissioner, T.C. Memo. 2016-123, case provides an example of this. Facts & Procedural History Mr. Wang… Continue reading IRS Budget Constraints Continue to Make Resolving Cases Difficult
IRS Tax Assessment Overturned Because Notice Not Property Mailed
In Buffano v. United States, T.C. Memo. 2016-122, the U.S. Tax Court concluded that that the taxpayer was not liable for tax because the IRS failed to properly assess the tax because the IRS did not mail notices of the tax deficiencies to the taxpayer’s last known address. This case is a good example of […]
The post IRS Tax Assessment Overturned Because Notice Not Property Mailed appeared first on Houston Tax Attorney: Texas Lawyer.
IRS Tax Assessment Overturned Because Notice Not Property Mailed
In Buffano v. United States, T.C. Memo. 2016-122, the U.S. Tax Court concluded that that the taxpayer was not liable for tax because the IRS failed to properly assess the tax because the IRS did not mail notices of the tax deficiencies to the taxpayer’s last known address. This case is a good example of… Continue reading IRS Tax Assessment Overturned Because Notice Not Property Mailed
What Property is Subject to the IRS’s Federal Tax Lien | Part Two
This is the second part of a three part series of articles that explains what you need to know about the federal tax lien if you have unpaid tax debts. The IRS’s federal tax lien can have a devastating impact on your personal finances. This installment focuses on the very important topic of what property is subject to the IRS’s federal tax lien.The Federal Tax LienAs we explained in the prior installment, the federal tax lien is basically a “you owe us” note that attaches to your property. 
Undelivered Mail from The IRS Can Mean No Taxes Are Due
Undelivered Mail from the IRS Can Mean No Taxes Are DueIt is unnerving getting mail from the IRS. For taxpayers who know they have tax problems, it can be tempting to simply ignore the mail with the hope that the IRS will simply go away. This is almost always a bad idea. But there are some very limited circumstances when not receiving IRS mail can actually eliminate the taxpayer’s tax liability. This article addresses one of these limited circumstances. The IRS Tax AssessmentWe typically
Stock Sale Triggers Transferee Liability for Buyer’s Tax Liability
In Marshall v. Commissioner, T.C. Memo. 2016-119, the U.S. Tax Court concluded that business owners who sold their stock was liable for the buyer’s Federal income taxes that arose after the sale. The facts and procedural history are as follows: The taxpayers owned Marshall Associated Contractors, Inc. (MAC), which was subject to tax as a […]
The post Stock Sale Triggers Transferee Liability for Buyer’s Tax Liability appeared first on Houston Tax Attorney: Texas Lawyer.
Stock Sale Triggers Transferee Liability for Buyer’s Tax Liability
In Marshall v. Commissioner, T.C. Memo. 2016-119, the U.S. Tax Court concluded that business owners who sold their stock was liable for the buyer’s Federal income taxes that arose after the sale. Facts & Procedural History The taxpayers owned Marshall Associated Contractors, Inc. (MAC), which was subject to tax as a Subchapter C corporation. MAC… Continue reading Stock Sale Triggers Transferee Liability for Buyer’s Tax Liability
Court Affirms that Tax Prepearer Fraud Holds Open Assessment Statute
In Finnegan v. Commissioner, T.C. Memo. 2016-118, the U.S. Tax Court refused to reconsider its previous decision that a tax return preparers fraud keeps the statute of limitations open on the taxpayer’s Federal income tax return. The facts and procedural history are as follows: On February 7, 2013, the IRS issued a notice of deficiency […]
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