Are distributions from my Roth IRA taxable? Many people know and understand that when they take distributions from their traditional IRA or a 401(k) the distributions are taxable. These distributions are taxable, and it makes sense because you contributed money to the traditional IRA or 401(k) without paying income tax on the contributions. Thus, being […]

Introduction to the BSA

•admin

•Denver Business Attorneys, Denver Tax Attorneys, McGuire Law Firm

•Bank Secrecy Act, Denver Business Attorney, Denver Tax Attorney

•no comments

What is the Bank Secrecy Act? The Financial Recordkeeping and Reporting of Currency and Foreign Financial Transactions Act of 1970, is generally referred to the Bank Secrecy Act (BSA). The act can be found at 31 U.S.C. 5311. The purpose of the act is relatively simple, that being to require financial institutions in the United […]

Denver Sales Tax Questions and Issues

•admin

•Denver Business Attorneys, Denver Tax Attorneys, McGuire Law Firm

•Denver Sales Tax, Denver Tax Attorney

•no comments

Many businesses in Denver are required to collect and pay sales tax, but many business owners have questions regarding sales tax matters. The article below has been prepared to provide additional information regarding sales tax matters in Denver County. First and foremost, when is sales tax imposed in Denver? In Denver, sales tax will be […]

FinCEN Examining Virtual Currency Businesses

•admin

•Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm

•Denver Business Attorney, Denver Tax Attorney, Virtual Currency

•no comments

FinCEN (Financial Crimes Enforcement Network) has recently been investigating and examining businesses involved with virtual currencies such as Bitcoin. In fact, on May 5, 2015, FinCEN announced the first civil enforcement action stemming from a virtual currency provider. FinCEN and the United States Attorney General Office for the Northern District of California assessed a $700,000 […]

IRS Tax Lien and Jointly Held Property

•admin

•Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm

•Denver Tax Attorney, IRS Tax Lien, Joint Tenancy and Tax Lien

•no comments

The filing of a federal tax lien by the Internal Revenue Service creates many issues and questions when property is held jointly. Related issues can arise when the Internal Revenue Service files a tax lien against a party, and the party holds an interest in property but the other owners of the property have no […]

What is FBAR Form 114?

•admin

•Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm

•Denver Tax Attorney, FBAR, Form 114

•no comments

Form 114 is the form used to report financial interests or signatory authority over foreign financial interests as required under the Report of Foreign Bank and Financial Accounts. The form is filed yearly, and electronically with the Financial Crimes Enforcement Network (FinCen). It is important to note that Form 114 is filed separately from your […]

What Is IRS Form 709?

•admin

•Denver Tax Attorneys, McGuire Law Firm

•Annual Gift Tax Exclusion, Denver Tax Attorney, Form 709, Gift Tax

•no comments

Who files Form 709, and why is Form 709 required to be filed? Form 709 is used to report transfers that are subject to federal gift tax and types of Generation Skipping Transfer Taxes (GST Taxes), as well as calculate the tax due, if in fact any tax would be due under the facts and […]

IRS Form 872

•admin

•Denver Business Attorneys, Denver Tax Attorneys, IRS Matters & Disputes, McGuire Law Firm, Videos

•Denver Tax Attorney, IRS Tax Audits

•no comments

If you are being audited by the IRS, the IRS may request that you sign Form 872, which extends the amount of time the IRS has to assess you additional tax. In essence, you are agreeing to extend the statute of limitations the IRS has to assess you additional tax. Whether or not you agree to […]

Jasmin E., Denver, CO

•admin

•Testimonials

•Business Law, Denver Tax Attorney, Denver Tax Lawyer, Tax Law

•no comments

John has provided outstanding legal counsel and guidance in helping me work through a number of IRS tax issues and implications. Over the past 5 years, John has provided sound advice, guidance and tangible business options that helped my company dig through the paperwork, and language which helped me to create a viable and reasonable […]

Brent C., Boulder, CO

•admin

•Testimonials

•Boulder Tax Attorney, IRS Debt Resolution, IRS Tax Problems

•no comments

As a long time business owner of two real estate businesses, I found myself owing a large amount of money to the IRS. Through research on reputable firms, I found John. With John’s help, I was able to move past poor decision making between myself and my previous accountant and work toward a resolution that […]

Blog