All taxpayers, whether individuals or not, may deduct as business expenses the costs relating to tax matters that are ordinary and necessary in the conduct of their trade or business under Section 162 of the Internal Revenue Code. However, certain non-business expenses are also deductible under Section 212, "Expenses for production of income." Notwithstanding the … Continue reading New Tax Bill May Eliminate Right to Deduct Fees Expended “In Connection with the Determination, Collection, or Refund of any Tax”
By Phil Karter The Quality Stores employment tax refund case was argued before the Supreme Court on January 14, 2014. An explanation about the issue at stake can be found in prior Taxblawg.net postings. Although the outcome of the case remains in doubt, the possibility of a taxpayer victory means that employers should start thinking … Continue reading Quality Stores Day Of Reckoning Draws Near – What Should Employers Be Thinking About?
By George W. Connelly Hardly a day goes by when some politician or editorial person doesn't suggest that we don’t need the IRS or should simply do away with it. Most of them come in connection with suggestions for changing the tax system to something like a national retail sales tax. What these people fail to … Continue reading What Happens If We Abolish the IRS?
By George W. Connelly The Inspector General for Tax Administration, TIGTA, has been in the news a lot lately. In addition to tracking down misbehaving IRS employees and misbehaving representatives, an important role of this organization seems to be examining every aspect of the operation of the Internal Revenue Service and publishing a critical report about … Continue reading Who Audits TIGTA?
This must-attend seminar will help ensure that you are as ready as the IRS for 2014. Hosted by Best Lawyers-ranked Tier One taxation law firm Chamberlain, Hrdlicka, White, Williams & Aughtry, the event will feature presentations by Patrick Jankowski, CCR, Vice President, Research, Greater Houston Partnership, and more than 14 experts from Chamberlain Hrdlicka’s labor, … Continue reading Houston – 36th Annual Tax and Business Planning Seminar
This must-attend seminar will help ensure that you are as ready as the IRS for 2014. Hosted by Best Lawyers-ranked Tier One taxation law firm Chamberlain, Hrdlicka, White, Williams & Aughtry, the event will feature presentations by named shareholder David Aughtry, a former IRS trial attorney and the firm’s leading tax litigator for nearly 30 … Continue reading Atlanta – 28th Annual Tax and Business Planning Seminar
By Phil Karter Is the IRS getting closer to ferreting out “quiet disclosures” by taxpayers who chose that route to address the problem of previously unreported offshore accounts rather than by participating in the Service's offshore voluntary disclosure program (OVDP)? That’s the conclusion of an increasing number of tax professionals and if taxpayers in this … Continue reading Are Quiet Disclosures of Offshore Accounts Becoming Even Riskier?