by Dan Smith | Dec 8, 2011 | Entrepreneurs' Business Blog
Yesterday, the U.S. Tax Court issued an opinion in the case of Ruffin v. Commissioner, that provides helpful information as to how to determine if litigation settlement proceeds are taxable or not. In short, you must look at the nature of the claim that is the basis...
by Dan Smith | Dec 2, 2011 | Entrepreneurs' Business Blog
Next week, the IRS will begin the “toe-dipping” process of unveiling what it hopes to become a new kind of IRS. On December 8, the IRS will hold the first of several planned public meetings to gather feedback from tax professsionals and the public about...
by Dan Smith | Nov 29, 2011 | Entrepreneurs' Business Blog
The IRS interest rates for the first quarter of 2012 (January through March 2012) have been released, and they are the same rates that are in effect for the fourth and final quarter of 2011. The rates are: three (3) percent for overpayments [two (2) percent in the...
by Dan Smith | Nov 28, 2011 | Entrepreneurs' Business Blog
Who ever said that case law is dry, and that judges only know how to speak eye-glazing “legalese?” Not me. I’ve read enough tax cases to know that not only can tax law be entertaining, but that judges can have impressive senses of humor (not to...
by Dan Smith | Nov 9, 2011 | Entrepreneurs' Business Blog
Yesterday, IRS Commissioner Doug Shulman spoke at the AICPA fall meeting. When the IRS Commissioner speaks, we should all listen for clues as to what is in store for us as taxpayers. Commissioner Shulman talked about a number of things, including the return preparer...
