On March 12, 2020, the Tax Court in the case of Lander v. Commissioner, 154 T.C. No. 7 adopted the opinion of Special Trial Judge Guy, holding that a taxpayer who had not received a notice of deficiency (NOD) could not litigate the merits of his tax liability in a Collection Due Process (CDP) hearing… Read More »
The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This… Read More »
https://www.irs.gov/newsroom/irs-increases-visits-to-high-income-taxpayers-who-havent-filed-tax-returns If you have unfiled tax returns, the IRS will attempt to file the tax returns for you. When the IRS files a tax return for a taxpayer, it is called a Substitute for Return. If you need help, contact a tax attorney to guide you through the process.
Chief Judge Maurice B. Foley announced today that the United States Tax Court has adopted final amendments to its Rules of Practice and Procedure. The Court has replaced Appendix II, Fees and Charges, with a Fee Schedule. On November 25, 2019, the Court issued proposed amendments to its Rules of Practice and Procedure and invited… Read More »
https://www.irs.gov/newsroom/irs-finalizes-safe-harbor-to-allow-rental-real-estate-to-qualify-as-a-business-for-qualified-business-income-deduction The Internal Revenue Service today issued Revenue Procedure 2019-38 (PDF) that has a safe harbor allowing certain interests in rental real estate, including interests in mixed-use property, to be treated as a trade or business for purposes of the qualified business income deduction under section 199A of the Internal Revenue Code (section 199A deduction). If you have… Read More »
The Fresh Start provisions also mean that more taxpayers will have the ability to use streamlined installment agreements to catch up on back taxes. The IRS Automated Collections System telephone call center agents generally cannot assist taxpayers when their tax liability is over $250,000. Therefore, if a tax liability balance is over $250,000, the IRS… Read More »
What is the IRS Offer in Compromise Dissipated Asset Rule? If you have a tax liability with the IRS, an offer in compromise allows you to settle your tax debt for less than the full amount you owe. An offer in compromise may be a legitimate option if you can’t pay your full tax liability,… Read More »