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IRS Will Not Reject Tax Returns That Do Not Address Obamacare Reporting Requirements

Obamacare, formally known as the Affordable Care Act, requires taxpayers to provide information on their annual federal Form 1040 tax returns related to healthcare coverage. For the 2016 filing season, the IRS had planned to reject tax returns that did…

February 22, 2017

Recent Revisions to the Internal Revenue Manual Deny Most Face-to-Face Hearings

As tax practitioners, it is our job to ask the IRS for relief for our clients.  Relief can include a request for an installment agreement, a request for penalty abatement, a request for innocent spouse relief or an Offer in…

February 20, 2017

Two of President Trump’s Cabinet Nominees Failed to Pay Payroll Taxes

Andrew Puzder, Trump’s former nominee for Labor Secretary, did not pay payroll taxes for a household employee according to his spokesman, George Thompson, as told to The Wall Street Journal.  According to Puzder, the back taxes eventually were fully paid…

February 20, 2017

Leaked Trump Executive Order to Allow Churches to Engage in Political Speech

Since 1954, churches and charities have been prohibited from engaging in political speech, including the ability to endorse or oppose candidates for public office. Then-Senator Lyndon Johnson of Texas proposed this Amendment to Internal Revenue Code §501(c)(3) in 1954 which…

February 14, 2017

IRS Attorney Breaks Bad By Allegedly Selling Meth

Jack Vitayanon, an attorney with the Internal Revenue Service Office of Professional Responsibility in Washington D.C., was arrested on February 1, 2017, under allegations that he conspired to distribute methamphetamine. Vitayanon allegedly shipped methamphetamine from Washington D.C. to Long Island…

February 14, 2017

Trump’s 2-For-1 Executive Order Shakes Up the IRS

Virtually all governmental agencies have a bewildering set of regulations that must be followed, and the IRS is no exception. On January 30, 2017, President Donald Trump signed an executive order that requires all federal agencies to identify two regulations…

February 14, 2017

Tax Return Preparer Headed to Prison For Tax Evasion

Semere Tsehaye owned and operated at least 20 Instant Tax Service franchise locations from 2005 through 2011, some of which were located in Illinois.  Instant Tax Service was a tax preparation business. For the taxable years 2010 and 2011, Tsehaye prepared…

February 14, 2017

Should a Discharged Student Loan Be Treated as Income on Your Tax Return?

Generally speaking, when you are relieved of a debt outside of bankruptcy, such as when a bank forgives a mortgage, you may experience forgiveness of indebtedness income. It is kind of counterintuitive to think that forgiveness of debt can lead…

February 09, 2017

President Trump’s Taxes Continue to Stir Controversy

If you are a regular reader of this blog, you are aware that President Trump has consistently refused to release his tax returns, halting a 40-year trend of Presidents and Presidential candidates who have released their tax returns to the…

February 07, 2017

IRS Becoming More Aggressive Regarding Summons Enforcement

We have a client that has some unpaid assessed liability due to the IRS along with unfiled tax returns.  Our client is working with his accountant to cause the preparation of the unfiled tax returns, but is doing so at…

January 25, 2017

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Chicago Area Tax Attorneys

Chicago Tax Attorneys

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