Must a Refund From a Material Mistaken Tax Calculation by the IRS be Repaid?
Did you know that when a mistaken tax calculation by the Internal Revenue Service is material the taxpayer must repaid the refund? The Tax Court in Hough Beck & Baird, Inc. v. Comm'r, 167 T.C. No. 2 (2026) held that an architecture firm was...
Do You Know That All Tax Problems Can Be Resolved?
Millions of taxpayers either could not pay their taxes or failed to file their tax returns. The number increases every year. Furthermore, many taxpayers file their returns incorrectly. In these cases, the Internal Revenue Service (IRS) often sends a formal letter to...
Do You Know that You May Qualify for a Refund?
This is a final reminder that the strict deadline to file a protective claim for a refund or abatement is July 10, 2026. If this deadline is missed, the right to request a reduction or refund may be lost forever. As discussed in our emails on June 2 and 16,...
Should Taxpayers Get Representation When Their Tax Return is Audited?
IRS tax problems could be extremely complicated. Many taxpayers attempt to resolve the problem themselves. In many instances, they make it worse because they do not know the procedures to resolve it. Some taxpayers just live with the problem for months and sometimes...
Are You Correctly Claiming Your Rental Loss?
In Warren v. Commissioner of Internal Revenue Service, T.C. Summary 2024-20, the Tax Court held that a taxpayer who purchased and renovated a single family home to open an assisted living facility (i.e., group home) while also employed full-time by Lockheed...
How the IRS Audit Tax Returns?
The Internal Revenue Service (IRS), in some cases, audits tax returns to ensure that taxpayers correctly pay their tax due. Knowing what the IRS looks for during an audit and getting prepared in case of an audit save taxpayers time and money. A tax audit can go on for...
Why Tax Representation Matters?
IRS tax problems could be extremely complicated. Many taxpayers attempt to resolve the problem themselves. Some taxpayers just live with the problem for months and sometimes years, assuming that nothing can be done about it or the debt will just disappear. IRS...
Do You Know Your Business Entity?
Your decision to start a business should start with tax planning. You need to meet with a tax professional to discuss your decision to start a business, to purchase a business, or to purchase a franchise. This should be the most important step. As a potential business...
Should We File Married Filing Separately?
Many married couples frequently ask the question: Should we file our tax jointly or separately? The answer: It depends. Taxpayers financial circumstances could be very different. There are many factors to consider to determine the filing status that could be more...