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Most Recent Posts

1099-C From Out Of The Blue? Don’t Ignore It! Fight It!

1099-C From Out Of The Blue? Don’t Ignore It! Fight It!

The case was complicated by a bankruptcy filing, but they really did not get into that.  At any rate, the Tax Court reviewed the eight triggers than can require an entity to send out a 1099-C. Since you are probably not running a bank or something like that, I’m not going to run through them with you.  One of the more obvious ones is that the statute of limitations on collection action has expired. Duh!  So there should have been a 1099-C issued in 2001.  That was when there was an event discharging the debt.  All that happened in 2007 was that somebody decided to free up disk space or something which triggered the 1099-C.

Since there was no discharge event in 2007, Ms. Bacon wins. Huzzah!

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IRS Grossly Unqualified To Make Determinations About Software Related Exempt Applications

IRS Grossly Unqualified To Make Determinations About Software Related Exempt Applications

I think that some organizations might want to think about whether the game is worth the candle when it comes to applying to the IRS for exempt status.  If you are not expecting to get much in the way of charitable contributions and you don’t intend to accumulate a large reserve, there is not a lot gained from a federal tax perspective.  In certain circles 501 status will give you an entirely undeserved dose of credibility and certain grant making organizations will only make grants to organization with exempt status.  There are also a variety of state and local benefits that can hinge on exempt status.  Still many organizations, particularly the 501(c)(4)s could probably be what they want to be without IRS recognition.

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Government Focusing On Codefendant Hansen As Kent Hovind Trial Commences

Government Focusing On Codefendant Hansen As Kent Hovind Trial Commences

Prosecutions for tax related offenses are very rare.  Their purpose is to encourage compliance.  This had me wondering, along with the Hovindicators – Why Kent Hovind?  The initial volleys of the government indicate that their primary target may be Paul John Hansen, for whom defiance of government authority is a vocation.  It has been more of a hobby to Kent Hovind, who focuses on winning souls, exposing the lies of evolution and warning about the coming New World Order.

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