What are the basis rules regarding joint tenancies that are created by a gift?  Under Internal Revenue Code Section 1015(a), generally, the basis of property received via a gift would be the basis of the donor, or the last preceding owner that did not acquire the property via a gift.  When the basis in property...Read More

In previous articles liability relief from a partnership has been discussed.  Generally, liability relief from a partnership is deemed a distribution to the partner who has been relieved of the liability.  But, what happens when a partner is relieved of liability at the liquidation of the partnership?  Can liability relief be deemed a liquidating distribution...Read More

Audits are performed by the Division of Unemployment Insurance within the Colorado Department of Labor and Employment as federally required. The requirement has been established in hopes of insuring compliance by employers as well as to provide guidance, information and help to employers.  How are businesses audited by the Division of Unemployment Insurance in Colorado? ...Read More

How does state law impact what a federal tax lien attaches to?  Because state law can vary greatly from state to state, this is an important issue when considering the impact of a federal tax lien issued by the Internal Revenue Service.  The article below has been drafted by a tax attorney in Denver, Colorado...Read More

If you owe taxes to the IRS or are going through an IRS tax audit, a Denver tax attorney at The McGuire Law Firm can help you with your IRS issues.  A tax attorney can assist you with the following issues related to an IRS tax debt: – Offer in compromise (IRS tax settlement) –...Read More

What is considered intangible property and how is the sale or transfer of intangible property taxed?  Intangible property could be considered personal property that has a value to it, but the property cannot be seen or touched.  Thus, in regards to intangible property consider property such as the goodwill from a business, which would be...Read More

What is a stock sale?  How is a stock sale different from an asset sale?  Is a stock sale or asset sale better?  As a business attorney, these are common questions I hear from clients when they are considering selling their business.  A stock sale and an asset sale have advantages and disadvantages, which may...Read More

What is a limited partnership? Previously, a Denver business attorney from The McGuire Law Firm has discussed certain types of entities including partnerships in previous articles.  The article below will discuss a limited partnership. A limited partnership could be considered a type of hybrid business structure because there are multiple types of partners/members. In a...Read More

What property does an IRS tax lien attach to?  As a tax attorney, I am asked many questions regarding tax liens, and one such question is, what property does the tax lien attach to?  The article below has been prepared to provide additional information regarding the above question.  As always, you should discuss your particular...Read More

If you are experiencing problems with the Internal Revenue Service, you may want to consider hiring a tax attorney to represent you before the IRS.  The IRS procedure and current tax code can be confusing and scary to individuals and businesses that are not familiar with it.  Thus, hiring a tax attorney may save you...Read More