IRS & Tax in the News

Tax Deduction / Minimization Tips

IRS Dirty Dozen For 2017: Tax Scams to Avoid

Every year, the IRS posts its version of the "Dirty Dozen"- the 12 most prevalent tax scams out there for the year.  Following/implementing any of these scams is a sure way to trouble with the [...]

IRS Highlights Important 2016 Tax Changes

In Fact Sheet 2017-1, the IRS has highlighted some of the important 2016 tax changes that affect the current filing season. These include: Three extra days to file and pay. Taxpayers will have until Tuesday, [...]

Beware the IRA Tax Traps: UBTI

Potential Taxes in Your IRA:  UBTI Many IRA owners believe that all investment and other income earned in their IRA will not generate any current income tax bill.  This is not correct.  There [...]

Retirement Planning|

Access Retirement Funds Without Penalty

IRA Tax Planning - Exceptions to 10% Tax on Early Distributions The following article and chart are courtesy of the IRS but offer a nice analysis of the options available to avoiding any extra [...]

Retirement Planning|

IRS Warns of Tax Scams

IRS Wraps Up the "Dirty Dozen" List of Tax Scams for 2016 IR-2016-29, Feb. 19, 2016 WASHINGTON — The Internal Revenue Service today wrapped up its annual "Dirty Dozen" list of tax scams with identity [...]

Are you part of the “Sharing Economy”

The IRS has a new category of potential audit victims: the sharing economy. This "new" economy, at least according to the IRS, includes "websites and mobile apps such as Airbnb, Uber, Lyft, TaskRabbit and Handy [...]

Do you need to hire a tax attorney?

Advice on hiring the right tax attorney to help you fight an IRS audit Scott M Estill Attorney and Counselor at Law Many Americans will face the IRS at some point in their lives. Over [...]

You and the IRS: Know Your Rights

Taxpayer Bill of Rights: #1, The Right to Be Informed FS-2016-7, February 2016 In 2014, the Internal Revenue Service adopted a Taxpayer Bill of Rights (TBOR) that has become a cornerstone document to provide [...]

Victim of Identity Theft?

IRS Identity Theft Victim Assistance: How It Works FS-2016-3, January 2016 The IRS knows identity theft can be frustrating and confusing for victims. When it comes to tax-related identity theft, the Internal Revenue Service wants [...]

Tax Savings|