Tuition Deduction C-Corp
T.C. Memo. 2022-19 Docket Nos. 4113-19, 4647-19. Filed March 9, 2022 The taxpayer claimed a business expense deduction for the C-Corp owners’ son-in-law (not an employee) for the costs of…
Using Tax Software to Do Your Taxes?
According to a US Tax Court case Docket No. 14085-20S, a taxpayer was using popular tax software to do their taxes. Nothing out of ordinary in this approach to taxes.…
Corporation Saving Tax on Build-in Gains
Internal Revenue Service says that taxpayers- transferees of a company that was stripped of its assets and left unable to pay its Federal tax liabilities are responsible for the transferor…
What Affects OIC?
On February 23rd, the U.S. Tax Court filed T.C. Memo. 2022-5 deciding whether the Office of Appealsabused its discretion in rejecting an offer-in-compromise (OIC) . The United States Tax Court…
Business Deductions Home Office Deduction IRS Letter Marriage, taxes Meals and Entertainment Deduction mileage travel expenses US Tax Court
Recent Tax Related Charges
Recent tax related charges and tax crimes
Innocent Spouse Relief
The IRS has the authority to collect from both spouses, regardless of who earned money and whether or not a joint tax return is filed. Section 6013 of the Code…
Taxability of Social Security Benefits.
Docket No. 13970-19 December 6, 2021 US Tax Court petitioner resided in Colorado and filed her petition with the court in order to issue a decision in regards to the…
2022 Tax Due dates
The IRS will send Letter 6419 (information letters) to taxpayers in 2022 with the total amount of advance CTC they received. To claim the third recovery/stimulus credit (if you have not received it), you’ll…
Business Deductions Home Office Deduction Investment IRS Letter Meals and Entertainment Deduction mileage travel expenses
Disallowing Deductions.
expenses requires corroborative evidence with a high degree of probative value to support such a reconstruction to show a high level of credibility.
Renewing ITIN
Source: https://www.irs.gov/individuals/itin-expiration-faqs You can renew your ITIN if it has expired when you file your tax return. You must send a completed Form W-7, Application for IRS Individual Taxpayer Identification…
