Tax Law

It may seem hard to believe, but the deadline for Tax Day 2017 is now just over a week away, falling, oddly enough, on Tuesday, April 18 owing to an especially peculiar calendar year that sees April 15 fall on a Saturday and the following Monday fall on a designated...

Sometimes an audit happens by chance, but in many other cases, it happens because of some sort of discrepancy that the IRS discovers in your tax filing. It can be extremely stressful to be audited when you have put many hours into sorting all your paperwork and...

On January 18, the U.S. Treasury Department proposed regulations pertaining to tax audits for large partnerships. These rules also apply to limited liability companies and other business entities treated as partnerships for federal tax purposes. Although the rules...

Given that Tax Day 2017 is still roughly six weeks away, it would not come as anything of a surprise to learn that there are still many people who have yet to complete their federal income tax returns. For some, this delay may have to do with their accountant’s busy...

One of the most important elements of tax planning and preparation is recordkeeping. While this may seem the epitome of the routine and mundane, you must realize that it may be one of the most important parts of asserting any claim or defense, should the Internal...

Most businesses do their due diligence in warning employees about sharing confidential information, such as W-2s, with outside sources you don’t recognize. But what if an email appears to have come from inside your organization? Cybercriminals are getting more...

When you are filling out federal and state income tax forms, most likely your primary concern is to avoid an audit. While this is a legitimate concern, as are the myriad complexities of the IRS Tax Code, major errors of that nature are not the most common among...

Wouldn’t it be great if you could keep the Internal Revenue Service (IRS) from gobbling up your parents’ hard-earned money? Some people only think of the “death tax” question when their parents are close to the end of their lives, when it’s too late to do too much. If...

Most of the time, paying your taxes on time is the best strategy. The Internal Revenue Service takes a dim view of late payments and it charges interest and penalties for that late payment. In addition, you still must file your income tax return on time or request an...

With the beginning of a new presidency and with Congress in Republican control, it seems likely that there could be more changes made to the Internal Revenue Code than in an average year. There have been major tax proposals made that could result in significant...