Often I find that clients misunderstand a tax lien, and often a tax lien is confused with a tax levy.  A levy is an actual taking of property and tax lien, like other liens can be viewed as a claim against property or an encumbrance on property.  I’ve decided to draft a series of articles...Read More

What is an IRS tax attorney?  I have heard the term before and as a tax attorney I thought I would draft the article and prepare the video below to provide my opinion or definition of an IRS tax attorney. First, in my opinion, an IRS tax attorney could be an attorney working for the...Read More

In prior articles, a tax attorney from The McGuire Law Firm has discussed Federal Tax Liens.  Such articles have been more general in nature and the law firm has received requests to provide articles on more specific issues in relation to a tax lien.  Please remember, these articles are always for informational purposes only.  The...Read More

If you owe taxes to the IRS or are having another dispute, there are IRS tax resolutions available to you.  The article below has been prepared by a Denver tax attorney at The McGuire Law Firm to discuss common resolutions to IRS tax issues, and a video has been prepared as well. Many people and...Read More

What is Section 1245 property?  The article below has been drafted by a tax attorney at The McGuire Law Firm to provide information on section 1245 property. Section 1245 property is property that is or has been subject to an allowance for depreciation or amortization.  Gain on section 1245 property is treated as ordinary income...Read More

If you owe taxes to the IRS and do not formalize or propose an agreement to resolve the back taxes, the IRS can levy your bank account.  You may have heard of an IRS bank levy when someone states, “the IRS has frozen my bank account!”  The article below has been drafted by a Denver...Read More

In previous articles the issue surrounding a variance in inside and outside basis has been discussed and examples provided.  Now the question arises, can the issue be fixed?  The article below has been prepared by a Denver tax attorney at The McGuire Law Firm to further this discussion and to discuss the 754 election. In...Read More

An IRS Notice CP 2000 is a Notice of Deficiency.  The notice is issued by the IRS when the IRS is proposing an additional assessment of tax.  The notice will state the items that the IRS is disagreeing with and how such change will impact (increase) your tax liability. For example, the IRS could state...Read More

In a previous article a tax attorney at The McGuire Law Firm drafted an article regarding inside and outside basis in a partnership to later further a discussion on IRC Section 754.  The article below will continue to discuss inside and outside basis and the problems or issues that can occur as we move forward...Read More

John R. McGuire is a tax attorney in Denver, Colorado and the founder of The McGuire Law firm.  The McGuire Law Firm focuses primarily on tax law, IRS matters and business transactions for small to medium sized businesses.  As a tax attorney, Mr. McGuire assists clients with the following matters and issues:   –   ...Read More