Taxes
Attorney Flagged for Tax Evasion in New Case
In his efforts to evade tax liability, this attorney from Missouri committed multiple fraudulent acts, for which he was found guilty.
Ken Berry, JD
CPA Practice Advisor Tax Correspondent
Ken Berry, Esq., is a nationally-known writer and editor specializing in tax and financial planning matters. During a career of more than 35 years, he has served as managing editor of a publisher of content-based marketing tools and vice president of an online continuing education company in the financial services industry. As a freelance writer, Ken has authored thousands of articles for a wide variety of newsletters, magazines and other periodicals, emphasizing a sense of wit and clarity.
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Taxes
Tax Court Halts Deduction for Start-Up Costs in Some Cases
A taxpayer can’t deduct start-up expenses if he or she abandons the business before it ever gets off the ground.
Taxes
The Tax Blotter - Sept 10, 2024
The Tax Blotter is a collection of briefs of recent tax legislation and tax court decisions.
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Taxes
Tax Court Says S Corporation Owner Owes Tax on Phantom Income
The Tax Court determined that the law still required the S corp filer to report his proportionate share of the S corp income for the tax years in questions.
Taxes
Tax Court Rules on Losses from Rental Activities
The tax court judge figured out that the husband would have had to work 40 hours at his regular job and 48 hours a week on the real estate activity.
Taxes
The Tax Blotter - August 2024
The Tax Blotter is a round-up of recent tax legislation and rulings.
Taxes
Tax Court: No Tax Exemption for This Legal Settlement
The taxpayer failed to report any of the $700,000 payment as taxable income on his return. So the IRS stepped in and the case ended up in the Tax Court.
Payroll
Payroll Tax News Updates: April 2024
Under the trust fund recovery penalty (TFRP), a “responsible person” may be held personally liable for the full amount of an employer’s unpaid employment taxes.
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Taxes
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
Taxes
Tax Law: These TCJA Provisions Will Expire Soon
The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.
Taxes
The Tax Blotter - March 6, 2024
The Tax Blotter is a summary of recent tax news, rulings and legislation.
Taxes
The Tax Blotter - Feb. 2024
The Tax Blotter is a round-up of recent tax issues and Tax Court rulings.