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IRS Blows Assessment Statute of Limitation, IRS Prohibited from Assessing Tax

The Tax Court has made a ruling that brings some clarity to the statute of limitation in certain filing situations. In the recent case Hulett vs.Commissioner of Internal Revenue, the court held that the IRS did not act within the…

April 02, 2018


Local Tax Attorney Warns of Loss of Tax Refunds

The time to get your older federal Form 1040 returns in is now. If you haven’t filed your tax return for 2014 with the IRS, the IRS will reject any refund listed because of the refund statute of limitation. “Generally…

March 21, 2018


IRS Waives 60-day IRA Rollover Requirement

On October 20, 2014, a taxpayer cashed in an annuity contract held in an IRA and intended to roll the proceeds over into an IRA account. However, funds from the annuity were mistakenly deposited into a non-IRA account by her…

February 27, 2018


Trump’s 2019 Budget Further Cuts IRS Funding

President Donald Trump recently released his fiscal year 2019 IRS budget request to Congress for a total of $15 billion in funding. As you are aware, the tax code was recently overhauled with the enactment of the new tax law. …

February 27, 2018


Trump Nominates Tax Attorney to Lead IRS

President Donald Trump’s administration recently announced the nomination of Charles Rettig to be the next IRS Commissioner. Rettig’s nomination is significant because he would be the first IRS Commissioner in 22 years with a background in tax practice. Rettig is…

February 21, 2018


Question Arises Over Statute of Limitations for 2013 Tax Returns

The IRS Trouble Solvers™ recently received the following question via our website regarding one of our past blogs about the Statute of Limitations on 2013 tax returns: “I filed an extension in April 2015 for my 2014 tax return. I…

February 21, 2018


IRS Warns About New Scam on Tax Return Preparers

If you are a regular reader of this blog, you are aware of the many IRS scams out there designed to steal your money. Well, the IRS has now warned of a new scam perpetrated upon tax return preparers where…

February 21, 2018

Proposed Legislation Would Allow Deduction for Property Taxes Prepaid in 2017

In a previous blog, we noted that the IRS signaled that it will likely disallow the deduction of prepaid state and local real property taxes in 2017 if the tax liability issue had not yet been assessed when it was…

February 15, 2018


Misappropriated Money Treated as Income by U.S. Tax Court

If you improperly use money that is entrusted to you, should that money be treated as income to you?  The answer is yes, according to a recent case in the United States Tax Court.  In the case of Sun v….

February 14, 2018

Wrongful Levy Claim Against IRS on Social Security Benefits Dismissed

If you owe money to the IRS, the IRS has many collection tools available to it to collect your unpaid liability, including the seizure of assets, the filing of tax liens, levying on your bank account and levying on your…

February 14, 2018

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