The IRS has many tools at its disposal to enforce the collection of unpaid tax debts, among them liens, levies, and even asset seizure. Beginning in late March, the IRS, in conjunction with the State Department, will have yet other weapon in its arsenal. Very shortly,...
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Since 1983, our tax firm has skillfully represented individuals and corporations across the United States and around the globe from our offices in New York, New Jersey, California and Florida.
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Tax Issues and Nonprofit Organizations
Charities, foundations and other nonprofit organizations play a crucial role at all levels of society with the overarching goal of serving the public good. While this mission is admirable, the fact remains that nonprofits must comply with a number of tax regulations...
The Many Ways Same-Sex Couples Can Benefit From a Tax Lawyer’s Counsel
The universal right of same-sex couples to marry their partners has been the law of the land since June 26, 2015. Even before the Supreme Court ruled in favor of marriage equality, hundreds of thousands of same-sex couples were legally married in many states. In the...
The IRS Wants to Take a Bite Out of Bitcoin
Increasing numbers of businesses and individuals across the world are using Bitcoin, a form of digital currency. Coindesk, a company that analyzes digital and virtual currency, states that on average, there are more than 200,000 Bitcoin transactions each day in 2016....
Tax Filings for Married Same-Sex Couples: Joint or Separate?
For more than a year now, marriage equality has been the law of the land. While some states had recognized same-sex marriages, the 2015 Supreme Court case of Obergefell v. Hodges struck down the federal Defense of Marriage Act (DOMA) and recognized same-sex marriage...
Major Changes to Partnership Tax Audit Rules Are On the Way
Currently, partnerships are considered pass-through entities for taxation purposes. As a result, when a partnership is audited, the partners themselves are responsible for any unpaid tax liabilities, penalties and interest. However, with the rise of multi-tiered...
The (private) tax collectors cometh
The IRS recently announced it will begin using private debt collectors to collect certain types of tax debts. The IRS has contracted with four private collection agencies that will focus their efforts on the following types of tax debts: Older tax debts on which more...