Showing posts with label financial. Show all posts
Showing posts with label financial. Show all posts
Monday, November 4, 2024

Firing A Client

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We fired a client. Nice enough fellow, but he would not listen. To us, to the IRS, to getting out of harm’s way. He brought us an examin...
Sunday, December 3, 2023

IRS Collection Alternatives: Pay Attention To Details

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  I was glancing over recent Tax Court cases when I noticed one that involved a rapper. I’ll be honest: I do not know who this is. I am to...
Sunday, November 5, 2023

Another Runaway FBAR Case

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  Let’s talk about the FBAR (Report of Foreign Bank and Financial Accounts). It currently goes by the name “FinCen Form 114.” This thing h...
Sunday, September 4, 2022

A Penalty Against A Tax Preparer

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  Did you know that the IRS can assess penalties against a tax preparer as well as a taxpayer? I am looking at an IRS Chief Counsel Memora...
Sunday, July 5, 2020

Requesting A Payment Plan With Over $7 Million In The Bank

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Sometimes I wonder how people get themselves into situations. Let’s take a look at a recent Tax Court case. It does not break new grou...
Sunday, February 9, 2020

Marijuana And Tax-Exempt Status

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I am not surprised. I am looking at a Private Letter Ruling on a tax -exempt application for an entity involved with marijuana and CBD...
Saturday, November 4, 2017

Owing A Million Dollar Penalty

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What caught my attention was the size of the penalty. The story involves Letantia Russell, a dermatologist from California who has been...