Tag Archive for Hire A Tax Professional

Leading Tax Educators Attracted To Global Tax Education Platform

One of the many exciting benefits of TaxConnections is the aggregation of the finest tax instructors in the industry to one global platform. With nearly 200 tax courses currently available on https://www.taxconnections.com/taxeducation with CPE or without CPE, and hundreds more in line to be uploaded on our tax education video platform, it is exciting to attract an increasing number of the very best tax educators around the world to TaxConnections. A  group of experienced tax instructors are being assembled that are committed to promoting the very best tax education in the profession. TaxConnections is the catalyst  bringing together an extraordinary group of tax educators in order to connect them to one worldwide platform.

During the year, we have interviewed many of tax instructors and are proud to introduce Read More

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The Smart Attorneys Best Friend: A Tax Professional – Part 5

Criminal Investigations (CI)

IRS CI case preparation is an expanding field with the IRS mounting more cases all the time. Tax Professionals should always be under Kovel letter protection when dealing with any type of possible criminal case. (see sample in the appendix) We can assist in the reconstruction of tax records for clients, testimony at a trial on the examination and preparation/amendment of questionable returns, be called as an expert witness, or just do consultations. Any of these will likely result in referral work in the future.

Identity Theft

Tax Professionals can be a great help to the Attorney involved in an Identity theft case. Read More

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The Smart Attorneys Best Friend: A Tax Professional – Part 4

Other Situations

Bankruptcy

Taxpayer must be compliant with IRS and state by having all back tax returns filed before bankruptcy can be contemplated. Should taxes be included in the bankruptcy is always a question. Can the taxes be included in the bankruptcy is the another question. Timing issues are paramount.

Alternatives to bankruptcy that we can offer include an Offer In Compromise, an Installment Agreement or a Currently Not Collectible request. For non-Tax Specialist Read More

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The Smart Attorneys Best Friend: A Tax Professional – Part 3

Child Custody

The biggest family court related issues Attorneys deal with are cases dealing with child custody and dependent exemptions. Effective 1 Jan 2009, new rules kicked in regarding the necessary documentation for claiming the dependent exemption for a child of divorced or separated parents. Before this date a copy of the judicial decree was sufficient, however, due to the varying nature and ambiguous wording of the different jurisdictions, this was determined to be inadequate. (IRC Cod. Sec. 152)

The Form 8332 (Release/Revocation of Release of Claim to Exemption for Child by Custodial Parent) , or a facsimile with all the same information, is now required to be Read More

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The Smart Attorneys Best Friend: A Tax Professional – Part 2

Divorce

Alimony

Alimony or separate maintenance is a payment ordered by court decree (not an agreement – unsanctioned by the court – between parties) made from one party in a divorce proceeding to the other, in order for the receiving party to maintain a standard of living (Cod. Sec. 215). We see both sides of this situation all the time, so we must be able to determine if the payments are deductible to the payer and/or taxable to the payee. There are conditions that must be known for the tax treatment of the payments to be determined: Read More

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The Smart Attorney’s Best Friend: A Tax Professional – Part 1

Introduction

How often do Tax Professionals see clients after a legal proceeding and have to help them deal with the aftermath of the decisions that are already in place? If we had been in on the case before the judgments were made we could have helped them avoid a big tax mess.

Our goal today is to learn how to establish a liaison with the local Bar Association and/or individual Attorneys to consult on tax implications of various legal matters before judgments or court orders are issued.

Let’s address the pros and cons of this situation. Read More

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