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IRS Easing Up On Collection Activity During Crisis

by admin | Mar 28, 2020 | Tax

There were rumors that the IRS was easing up in the collections area due to COVID-19. Now with IR-2020-59 there is confirmation. If you are the type of person who arranges life to live on after-tax income, the release might not be of much interest to you. On the other...

Paycheck Protection Program Looks Like A Very Sweet Deal For Employers

by admin | Mar 28, 2020 | Tax

Originally published on Forbes.com. The part of the CARES Act that has me most excited for small and not so small business is the Paycheck Protection Program. There is even a sweet tax deal that is part of it. Just about every entity that qualifies should take...

Should You Stop Giving Money To Your College?

by admin | Mar 21, 2020 | Tax

The recent “scandal” in the Church of Latter-Day Saints that I have called Ensigngate has caused me to reflect a bit. Although I have never felt a religious impulse to tithe, I’ve given a bit to charities over the years. Most of the money has gone to organizations...

Tax Blogger Helps Get Judge To Change Decision

by admin | Mar 17, 2020 | Tax

By Ellin Beltz – Own work, CC BY-SA 4.0, https://commons.wikimedia.org/w/index.php?curid=76915424 Originally published on Forbes.com. When they give out the award for extraordinary service by a tax blogger, Carlton Smith should be near the top. He noticed...

Conservation Easement Reform – 250% Is Too Much

by admin | Mar 11, 2020 | Tax

This has been a big month in the struggle against abusive syndicated conservation easements. There were three Tax Court decisions disallowing over $30 Million in deductions. And now we have the IRS updated report that comes largely from the filings required by its...

If Spouse Is Behind Bars Think Before Filing Jointly

by admin | Mar 5, 2020 | Tax

Photo Credit Michael Coghlan Originally published on Forbes.com. Filing a joint return usually produces a lower tax than filing two separate returns. There is a disadvantage though – joint and several liability. Regardless of which half of the couple generated...