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Clock is Ticking On Amending Returns of Same Sex Couples

Clock is Ticking On Amending Returns of Same Sex Couples

This was originally published on October 2nd, 2010. Taxpayers who extended their 2006 returns have until October 15, 2010, to amend.  In a previous post, I discussed at some length the Gill decision.  Under the Defense of Marriage Act, same-sex couples are not...
You Don’t Need a Matchmaker at the Family Reunion

You Don’t Need a Matchmaker at the Family Reunion

  Family assistant (Demitz files, acquired by FamSAC)   This was originally published on PAOO September 29th, 2010. I have these silly rules that I make up and then go ahead and break all the time.  One is to not use the word only in association with any sum...
Shoemaker’s Children

Shoemaker’s Children

This was originally published on September 27th, 2010. WALLIS v. COMM., Cite as 106 AFTR 2d 2010-5755, 08/11/2010 Many tax professionals practice as partners in partnerships.  So you would think the tax aspects of professional partnerships would be pretty well worked...
Joint Extension Payments

Joint Extension Payments

This was originally published on September 24th, 2010. CCA 201035023 highlights one of the problems that arises from routinely filing joint returns and then shifting to a separate return.  The IRS received Form 4868 (Extension request) from a couple along with a...
Short Note on Purging Earnings and Profits

Short Note on Purging Earnings and Profits

This was originally published on September 23rd, 2010. I recently wrote on a strategy for old C corporations with appreciated properties.  The idea is to make an S election and wait out the built-in gains period.  Among the provisions of the Jobs Act which just passed...