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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
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 […]
What is tax help or IRS tax help? As a tax attorney I hear the term quite often and thus, thought I would provide information as to what I feel can be considered tax help. Please read the article and view the video below, and of course, you can contact our law firm to speak […]
What is IRS Form 12153? Form 12153 is used to request a Collection Due Process Hearing with the Internal Revenue Service. If you owe taxes to the Internal Revenue Service, and the IRS issues a Final Notice of Intent to Levy, files a Notice of Federal Tax Lien or other circumstances exist, you may wish […]