Most Recent Posts
Opportunity Zones – What Are They Good For?
The OZ program has attracted a great deal of criticism over its efficacy and lack of transparency. We argue that the core deficiency of the program is that it lacks a clearly defined purpose. It was initially created to spur entrepreneurial activity and support small businesses in low-income areas, but as implemented it appears to primarily benefit real estate investors.
How to Overcome Business Financial Failures and Still Succeed Anyway
Your own Talent Scout can source highly qualified candidates to fit your business’s short-term needs with contracts as short as one month. This can definitely help you stay on budget.
Charlie Sheen Settles With IRS For $3.3 Million And A Possible Share In Future Earnings
Although late night TV ads about settling your tax liabilities for pennies on the dollar are not to be relied on, settling with the IRS for a lower amount or paying them over time is an option open to all taxpayers. At the present time if you have an old balance there might not be much point in being proactive about it. The IRS has to warn you explicitly about your right to a collection due process hearing when it starts doing liens and levies.
Settlement In A Low Income House Tax Credit Year 15 Appeal
We are thrilled to reach an agreement with RiseBoro that will allow us to further our shared mission of preserving affordable housing. We greatly value the expertise and dedication of the RiseBoro team, and we welcome the opportunity to provide them with resources to enhance their exceptional resident services program as we continue to work together to support residents and local communities.
Inflation Bill Will Restore IRS Staffing To 1995 Level By 2026
I think it is safe to say that an Enrolled Agent who want to continue in the tax field in a practice that serves individuals and small businesses will not improve their capacity to serve clients by becoming a CPA,
Come Out of a Recession With a Stronger Future and Better Outlook
Finally, if you’re worried and anxious about the uncertainty during a recession, devote some time to self-care. Engage in stress-relieving activities like meditation, yoga and stretching to help ground yourself.
Tax Pro Suggests How IRS Should Use Funds From Inflation Reduction Act
The Taxpayer Advocate does a good job monitoring the IRS and makes a large number of suggestions that are ignored by both the IRS and Congress. The IRS needs to open a dialogue with the Taxpayer Advocate and follow their recommendations regarding enforcement and everything else. Congress clearly needs to do the same.
Best Tax News Of The Year – Aegis For Dreams Wins Tax Exempt Status
A historically accurate Revolutionary War film hasn’t been made in fifty years (and arguably, ever). In my view, this was a key element of IRS’ granting the Foundation tax-exempt status: the film cannot compete against something that doesn’t exist. The Foundation’s Tax Court case magnifies this longstanding void in our country’s filmography. Aegis for Dreams fills that void. Charitable status puts the story itself at the forefront, not financial profit considerations.
Charitable Acknowledgements For Tax Purposes Go Badly Wrong
While the risk is primarily for DAF gifts of partnership interests, business interests or minority interests in real estate, it is important for all organizations that sponsor DAFs to use the expanded language in future contemporaneous written acknowledgments. This language is designed to comply with Section 170(f)(8) and Section 170(f)(18) requirements.
Conservation Easement Abuse – Not Just The Syndicators
The BU white paper further validates P4C’s longstanding position that the class of landowner, whether a partnership or an individual, is irrelevant as it relates to the potential for overvaluation of donations of conservation easements.