In previous articles a business attorney from The McGuire Law Firm has discussed certain acquisitions between corporations.  The article below will discuss an acquisition known as a cash for assets acquisition. The first step of a cash for assets acquisition, Corporation 1 would pay Corporation 2 cash consideration of the assets of Corporation 2.  Corporation...Read More

Receiving a notice from your bank or the Internal Revenue Service that your bank account has been levied can be scary, confusing and frustrating.  Moreover, in addition to the money levied by the IRS from your bank account, the bank levy can cost you considerable money in bank fees and/or overdraft fees if the bank...Read More

What is a Schedule E?  A Schedule E is where a taxpayer will state supplemental income from rental properties and income from pass through entities such as a Limited Liability Company (LLC), S Corporation or other partnership. In terms of income from a rental property, a taxpayer will use Schedule E to report each property...Read More

Can an IRS tax lien be re-filed?  Can the IRS re-file the Notice of Federal Tax Lien?  How does the IRS renew a tax lien?  As a tax attorney I have been asked the above questions and therefore have prepared the article below to provide general information regarding such issue.  Please remember, that the article...Read More

When a partner in a partnership is having their interest terminated, often such termination may be through a series of distributions.  The series of distributions may be needed due to the cash flow of the buyer or purchaser. Thus, the question arises, are these liquidating distributions?  The article below has been drafted by a Denver...Read More

Many people know that an offer in compromise is a tax settlement with the Internal Revenue Service.  But, why does the Internal Revenue Service and our government allow for such a tax settlement?  In many respects, you could compare an offer in compromise to a bankruptcy.  Of course, in a bankruptcy you are likely discharging...Read More

What is stated or contained in a Notice of Federal Tax Lien?  What if there are errors stated in a Notice of Federal Tax Lien.  As a tax attorney, these are common questions that I am asked by clients, potential clients and other tax professionals, and rightfully so.  It is important to know and understand...Read More

When a partnership is formed the partners will generally contribute property to the partnership in the form of cash and/or property.  These contributions of property impact the partner’s basis and capital account in the partnership and thus may impact tax matters in the future.  A contribution of property will generally increase a partner’s capital account...Read More

What is an IRS tax lawyer?  I have the term IRS tax lawyer and thought I would draft an article and prepare a video to provide what I feel could constitute an IRS tax lawyer. First, an IRS tax lawyer could be a lawyer that works for the Internal Revenue Service.  This lawyer would likely...Read More

Previous articles posted from The McGuire Law Firm have discussed controlled entities and certain related party issues.  The article below has been prepared by a tax attorney at The McGuire Law Firm to discuss controlled partnership transactions. A controlled partnership is a partnership of which 50% (fifty percent) or more of the capital interest or...Read More