As previously reported (Prior Blog Post), last summer the IRS sent letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from those transactions or did not...
Parts I, II, III and IV of this series have presented a general discussion of what constitutes indebtedness, the general consequences of significant modifications of indebtedness, and a number of...
There is no denying it. My Best Friend Forever, my BFF, is IRS Form 8275 – which I affectionately call Disclosure Statement. The reason being, Form 8275 keeps me and my clients (mostly) out of trouble. And it...
Sometimes it better not to be noticed. And that is certainly true when it comes to the IRS’ Dirty Dozen list – the IRS’ proverbial “naughty” list of abusive transactions, fraudulent schemes, and criminal scams. In...
On July 6th, the IRS published a BBA Roadmap for Taxpayers to assist partnerships subject to the centralized partnership audit regime. The centralized partnership audit regime was created in the Bipartisan Budget...
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