My clients owed the California Franchise Tax Board (FTB) $8,000 for the 2011 tax year; they filed their return late, and couldn’t pay it all at once. The FTB sent a notice that it was about to levy Read more >>
Taxes
Investment Activity and Your Tax Return
Most people know that they can’t claim losses incurred by a hobby – say, for instance, their side hobby of breeding and raising Great Pyrenees dogs. No profit motive, no deduction Read more >>
Proving A Negative: IRS Needs Evidence of Taxpayer’s Being Paid
My mother-in-law, Margret, is in a nursing home. She knows who she is, but not much more than that. My wife does her taxes every year. And it’s usually Read more >>
Misleading Radio Ads Promising Huge Tax Debt Reduction
I heard a radio ad about solving IRS problems. “It’s a fact that when you owe $10,000 or more, the IRS can take your car, your house . . . even your freedom.” Read more >>
Why We’ll Never See Tax Reform
I’ve always maintained that Congress will never reform the Tax Code toward simplicity. Here is a scholarly article that says just that: the power to tax, and to keep changes Read more »
Getting Rid of Tax Debt With Bankruptcy
People often believe that they cannot discharge income taxes through bankruptcy. Wrong! While it can be a bit more difficult to discharge income tax compared to other debts, you can get rid of tax debt Read more >>