Showing posts with label partnership. Show all posts
Showing posts with label partnership. Show all posts
Monday, June 30, 2025

An Ugly Case Over An Ugly Penalty

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  You know that the IRS pays especial attention to foreign transactions of U.S. citizens. We are to report foreign bank accounts, for exampl...
Sunday, December 10, 2023

A Ponzi Scheme And Filing Late

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I am reading a case involving a late tax return, a Ponzi scheme, and an IRS push for penalties. It made me think of this form: It is used ...
Saturday, April 30, 2022

Basis Basics

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I am looking at a case involving a basis limitation. Earlier today I accepted a meeting invite with a new (at least to me) client who may ...
Sunday, December 27, 2020

Deducting “Tax Insurance” Premiums

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  There is an insurance type that I have never worked with professionally: tax liability insurance. It is what it sounds like: you are pur...
Sunday, February 16, 2020

Faxing A Return To The IRS

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We recently prepared a couple of back California tax returns for a client. The client had an accounting person who lived in California...
Saturday, February 18, 2017

What’s Fair Got To Do With It?

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I am reading a tax case with an unfortunate result. It does not seem that difficult to me to have planned for a better outcome. I h...
Thursday, October 24, 2013

When A Tax Shelter Blows Up

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Can you image losing a tax case with the IRS and owing a billion dollars? Who did this? We are talking about Dow Chemical Company (...