Tax - Your Tax Matters Partner

Getting Out Of The Blue Calls From IRS? Just Hang Up

by admin | Jan 21, 2017 | Tax

Originally published on Forbes.com. After all this time it seems that IRS phone scams are still a thing. The IRS does not actually call people up and demand immediate payment nor threaten to have the local police come and arrest you. If they think you owe them money...

Ninth Circuit Upholds Tax Court In Disallowing RV Business Deductions

by admin | Jan 18, 2017 | Tax

Originally published on Forbes.com. Generally, it would seem that having an RV considered a dwelling for income tax purposes would be a good deal. That classification would allow you to deduct the acquisition interest as residence interest. It was not a good result...

Pastor Calls For Church Transparency With IRS Form 990

by admin | Jan 14, 2017 | Tax

Originally published on Forbes.com. Reverend Frank B Jones is taking aim at the lack of financial transparency in churches. He has started a petition drive to require churches to play by the same rules as other not-for-profits and file Form 990 with the IRS every...

Comprehensive Tax Reform Threatens Supply Of Affordable Rental Housing

by admin | Jan 12, 2017 | Tax

Originally published on Forbes.com. There is a concern that comprehensive tax reform might have a bad effect on the supply of affordable housing and it is not the home mortgage deduction I am talking about. It is the low-income housing tax credit, which is turning...

Tax Shelter Guru Gets $60 Million IRS Penalty And No Day In Court

by admin | Jan 7, 2017 | Tax

Originally published on Forbes.com. The IRS wants over $60 million in tax shelter promoter penalties from John Larson. They are not penalties that can be contested in Tax Court. The requirement is that the penalties be paid and a claim for refund made. If...

IRS Denies Exempt Status To Scholarship Fund Targeted To Founder’s Child

by admin | Jan 1, 2017 | Tax

Originally published on Forbes.com. So here is an idea for a tax-deductible college education. Set up a scholarship fund with seemingly neutral criteria that by wild coincidence your kid and nobody else meets. Apply for 501(c)(3) status, which is pretty much...