Former Detroit Pistons Owner Hit With $2 Billion Estate Tax Bill
The Detroit Free Press reports that IRS lawyers are defending a tax bill of more than $2 billion sent to the estate of the now deceased William Davidson, claiming that [...]
Innocent Spouse Relief Extended
When spouses sign a joint tax return, they are both stating that what is included on the return is correct. They are also agreeing that they are jointly liable for [...]
How $1MM In Offshore Funds Can Cost You Over $4MM in Taxes
Having undeclared funds in offshore bank accounts is one of the easiest ways to ensure an IRS headache. As Jim Rome once educated daredevil Evel Knievel, "Evel, you can jump the [...]
IRS Offers Streamlined Processing for Certain 501(c)(4)s
The IRS just announced that if you've had a 501(c)(4) application languishing for more than 120 days, then they will allow you to be able to "self-certify" (subject to audit [...]
Will Prop 13 Lead to a Detroit-Like Bankruptcy for CA Cities?
Recently on MSNBC's Morning Joe, former Obama Economic advisor Steven Rattner declared that the slew of municipal bankruptcy filings were simply the result of California's Proposition 13. This is obviously [...]
IRS Inspector General Confirms Improper Access of Political Donors’ Tax Records
From Accounting Today:Sen. Chuck Grassley, R-Iowa, the former chairman of the Senate Finance Committee, is looking into findings from the Treasury Inspector General for Tax Administration that the confidential tax [...]