How a taxpayer or tax professional reacts and responds to a visit by IRS criminal investigators may mean the difference between a criminal indictment and the IRS declining to pursue a criminal case. A taxpayer usually learns...
Category: Blog
Changes Are Coming to Form 8867 and Preparer Due Diligence Requirements
November 27, 2018
By Meadows Collier, Blog
Significant changes are coming to Form 8867, Paid Preparer’s Due Diligence Checklist, and the associated requirements for the 2019 filing season. On November 5, 2018, the IRS issued final regulations under Treas. Reg. §...
If You Use it, You Won’t Lose It: IRS Says Taxpayers Won’t Lose Benefit of Higher Gift Tax Exemption
November 21, 2018
Apparently the IRS is feeling the holiday spirit. The IRS just proposed regulations allowing taxpayers to lock-in the higher gift tax exclusion amount, which was raised under the 2017 Tax Act from $5 million to $10 million...
Update from the IRS Regarding Like-Kind Exchanges
November 20, 2018
By Joel N. Crouch, Blog
On November 19th, the IRS issued IR-2018-227, reminding taxpayers that Like-Kind exchange tax treatment is now generally limited to exchanges in real property that is held for use in a trade or business or for...
The IRS Continues Assessing Employer Shared Responsibility Payments
November 19, 2018
By Meadows Collier, Blog
The IRS continues issuing Letter 226-J notices proposing assessments that are commonly referred to as “employer penalties” under the Affordable Care Act. The letters state that the IRS has made a preliminary calculation...