Table of Contents1 What Is Identity Theft2 Can Identity Theft Affect Me?3 Reduce Your Exposure to Identity Theft4 Report Identity Theft Immediately 4.1 Need a Tax Attorney’s Assistance? What Is Identity Theft Identity theft happens when someone uses your personal information to commit fraudulent activity. This includes applying for credit cards, bank accounts, loans, or government […]
Table of Contents1 Introduction Of The CARES Act2 Who Is Eligible For The Coronavirus Disaster Program Loan?2.1 What Is The Maximum Loan Amount?2.2 How Can I Spend My Small Business Loan From The CARES Act?2.3 Will My Loan Be Forgiven Under Section 1105 Of The CARES Act?3 What Is Considered A Payroll Cost?4 How Do […]
Table of Contents1 What Is Form 8283?2 The Two Parts of Form 82833 Charitable Contributions4 Donee Information5 Where to Find Form 82836 Form 8283 Requirements7 Takeaways What Is Form 8283? Form 8283 is a tax reporting form used to report donations to charities. If you donate property valued at $500 or more during the calendar […]
Table of Contents1 The Acquisition Process2 A Stock Purchase3 An Asset Purchase4 Section 338 Election The Acquisition Process When businesses acting as the seller or purchaser are going through the acquisition process, there is likely to be discussion as to whether the acquisition will be structured as an asset purchase or a stock purchase. There […]
Table of Contents1 What is FIRPTA?2 Do I need to report it?3 Who qualifies as a foreigner?4 How much do I need to withhold?5 May I withhold less than 15%? Many people have questions relating to FIRPTA and the relating withholding tax requirements. Below are common questions and answers related to FIRPTA, but please remember […]
Table of Contents1 Defining Investors, Traders, Securities & Dealers1.1 What’s An “Investor”?1.2 Who’s A “Dealer”?1.3 1.4 Who’s a “Trader”?2 What’s A Security?2.1 Reporting The Sale of Securities3 The Mark-to-Market Election3.0.1 However, there are some restrictions on how this works: Defining Investors, Traders, Securities & Dealers Many individuals (and businesses) buy stock and securities with the […]
Table of Contents1 Lawsuit Settlements And Taxes1.1 IRC Section 61 & Regulation 1.104-12 Awards & Settlements Tax2.1 Factors To Consider When Settling Lawsuits3 Useful Settlement Tax Documents3.0.1 CC PMTA 2009-0353.0.2 Publication 43453.0.3 Rev. 85-973.0.4 Rev. 61-13.1 Need More Information? Lawsuit Settlements And Taxes Lawsuits are one of those things that people always want to avoid. […]
Table of Contents1 IRS Special Agents & Criminal Investigations1.1 IRS Auditors1.2 Taxpayers1.3 Public Records2 Analysis, Review, and Investigation3 Beginning The Criminal Investigation4 Prosecuting Tax Crimes5 Conviction Of Tax Crimes5.1 Need Help? IRS Special Agents & Criminal Investigations The Internal Revenue Service performs criminal investigations into individuals suspected of tax evasion, money laundering, drug trafficking, and […]
Table of Contents1 Can the IRS Take Your Passport?1.1 Actions From The IRS2 What Is A Seriously Delinquent Tax Debt?2.1 Take Action2.1.1 A taxpayer in the following situations should not be at risk of impacting their passport rights.3 Settling Your Debt3.1 Prevent Future Passport Issues Can the IRS Take Your Passport? Congress passed legislation in […]
Table of Contents1 What Is An Abusive Tax Scheme?2 Basic Trust Law3 Abusive Tax Avoidance Transaction (ATAT)4 Tax Schemes4.1 Common Tax Scheme Variations5 Abusive Tax Shelter What Is An Abusive Tax Scheme? You may have heard of a program or tax scheme that promises to eliminate or substantially lessen your tax burden and taxes due […]