In previous articles our a tax attorney at The McGuire Law Firm has explained what the trust fund recovery penalty is. Because many clients and taxpayers inquire as to the process surrounding the personal assessment of the trust fund recovery penalty the article below has been drafted by tax attorney at The McGuire Law Firm. […]
Previously a Denver tax attorney at The McGuire Law Firm has written articles regarding the process of preparing and submitting an offer in compromise to the IRS. However, clients will often ask a tax attorney, “what is the offer process once the offer is submitted to the IRS?” We hope the article below helps answer […]
A Denver business attorney at The McGuire Law Firm can counsel and assist tax exempt organizations on a number of matters and issues. One question commonly asked of a business attorney is the ability of a tax exempt organization to form a joint venture with a for profit entity. Furthermore, these clients will often inquire […]
Tax attorneys and business attorneys often hear the term “reorganization” from business owners. The meaning behind “reorganization” may be many. Some business owners may simply be considering reorganizing certain parts or areas of their business that will have no tax consequence for the time being or ever. Some business owners may be referring to a […]
In previous articles a tax attorney at The McGuire Law Firm has explained what an offer in compromise is and how an offer in compromise is calculated. While we hope these articles have been helpful, we also thought it may help to outline the general procedure of preparing and submitting an offer in compromise to […]
Issues regarding gain or loss upon the sale of stock are common issues faced by a Denver tax attorney or business attorney at The McGuire Law Firm. A recent United States Tax Court case dealt with gain recognition when a taxpayer was relieved of debt through court proceedings. The Tax Court agreed with the IRS […]
“So, we’ll take step one, and then step two and then step three and then pay no tax!? Wow, that’s great, we should have been doing this for years!” Maybe you have heard these words, or even said these words. With all the current tax law, tax attorneys, CPAs, accountants and others have found loopholes […]
Many clients consult their tax attorney or business attorney about establishing an agreement with third parties or employees whereby the individual would receive a profits only interest in the business. In a typical profits only interest, the employee or a third party service provider receives a grant of a certain percentage of the business profits. […]
As a tax law firm, The McGuire Law Firm attempts to remain abreast of current tax law and changes that impact our clients. As tax attorneys, we attempt to educate our clients on the tax laws so they understand the tax laws and therefore the impact these tax law changes will have. Recently, the Internal […]
One option to “resolve” an IRS tax debt is to have the debt placed in a “Currently Non-Collectible” status. As a Denver tax attorney, John McGuire has placed many IRS tax debts in a currently non-collectible status. The reason “resolve” is placed in parenthesis above will be better explained by the article below drafted by […]