What is a substitute filed tax return?  As a tax attorney, I have seen the IRS and state taxing authorities file tax returns for taxpayers when the returns are not voluntarily filed.  The article and video below should provide some information regarding a substitute tax return. So you never filed a tax return, but yet...Read More

What is Section 1231 property?  What is Section 1231 gains or losses?  Recently I was asked these questions as I mentioned 1231 property to a client who was preparing to dispose of certain assets.  A tax attorney at The McGuire Law Firm has prepared the article below to discuss 1231 property and hopefully the article...Read More

Tax laws are always changing or being interpreted and the IRS is always issuing new programs and revenue procedures.  It is important for a tax attorney to stay as current as possible with such matters.  The article below has been drafted by a Denver tax attorney at The McGuire Law Firm regarding current tax matters...Read More

You owe taxes to the IRS and now the IRS has filed a tax lien, or what is called a Notice of Federal Tax Lien.  So what is a tax lien?  How will this lien impact you or your business?  The article and video below have been prepared by a tax attorney at The McGuire...Read More

In previous articles, the collapsible partnership rule has been discussed.  The article below has been prepared by a tax attorney to further our discussion of this rule and provide an example of the rule when partner’s allocation of profits and losses are different.  Many partnership agreements call for special allocations whereby one partner (or multiple...Read More

How much can I settle my IRS tax debt for?  I have heard, and answered this question many many times.  Of course, this is a common question for an individual or a business owner that owes taxes to the IRS.  My answer is always, “it depends.”  This is because the amount that the IRS will...Read More

What is IRS tax relief?  You may have heard this statement on the radio, tv or elsewhere but what do you think it means?  A tax attorney from the McGuire Law Firm has prepared the video below to provide what they feel constitutes IRS tax relief.  In short, such relief is likely to involve the...Read More

When you file your 1040 Individual Income Tax return, if you itemize your deductions, you file a Schedule A with your income tax return.  Generally, you will itemize your deductions if these deductions are greater than the standard deduction allowed.  Examples of itemized deductions would include: mortgage interest, real estate taxes, medical expenses (subject to...Read More

The vast majority of individuals know that they can settle a tax debt with the IRS through an offer in compromise.  As a tax attorney, almost every individual and business that has owed taxes to the IRS has asked me questions related to an offer in compromise.  The article and video below should provide comprehensive...Read More

Quite often a client will be in my office and they will state that their business has a 941 tax debt (employment tax debt).  This generally occurs because the business is tight on cash flow and thus the employees will be paid their net checks, but the taxes withheld will not be paid to the...Read More