Confidential informants and whistleblowing: Making Money by helping the IRS! What is the IRS Whistleblower Program? Believe it or not, the IRS has a program set up to reward taxpayers who to inform the IRS about other taxpayer’s...
Innocent Spouse Relief- The Program This month, we will close our discussion on innocent spouse relief. In my first post on the subject, I gave a broad outline and talked about how to sever the joint tax liability between you and your...
IRS Final Notice of Intent to Levy. Now What? In my prior post, I described how the IRS bills taxpayers. One of those dreaded letters is the final notice of intent to levy. If you see the following line on your IRS notice, sit up and take...
When dealing the the U.S. Government, you have rights such as the right against unreasonable search and seizure and the right to free speech as guaranteed by the Bill of Rights. Dealing with the IRS is no different but in addition to the...
Good question. On average you have less than a one percent chance, as an individual, of being audited by the IRS. Don't get complacent though, that figure is only part of the story. Only when you crunch the numbers does a more nuanced...
Beck v. Commissioner, T.C. Memo. 2015-149 Filed August 10, 2015. Certain states may have legalized medical marijuana but Federal law still lists it as a controlled substance. This means that medical marijuana dispensaries are still...
Two recent Tax Court opinions highlight the danger of ignoring the Internal Revenue Code 71 when handling spousal support issues. Christina Mehriary v. Commissioner, T.C. Memo 2015-126, issued July 9, 2015 Taxpayer tried to deduct the...
In Devy v. Commissioner, T.C. Memo. 2015-110, a recent tax court opinion, Mr. Devy found out the hard way that his trust in his tax preparer, aptly named Tax Whiz, was misplaced. Tax Whiz prepared his return and claimed for him an...
With the recent disaster in Nepal people around the world are making donations to help the recovery effort. Sadly times like these draw scam artists who will form fake charities to take money from the unaware. If you are considering...
For the 2014 tax filing season, the Social Security Administration (SSA) has agreed not to seize an individual's tax refunds to pay back old debts. Since 2008, the SSA has been able to have the Treasury Department seize federal payments...
I have established this blog to provide information that I hope I helpful, informative, and sometimes irreverently humorous. Please enjoy! James D. Wade, Esq. Beacon Tax Advocates, LLC 57 Portland Road, Ste. 3 Kennebunk, ME 04043...
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