IRS Collection Hearings: How Thorough Does the IRS Have to Be?

IRS collection hearings are one of the procedural safeguards Congress created to prevent the IRS from taking certain actions without first confirming that they have followed the law. These safeguards are needed as the IRS works a lot of cases and the volume can result in the IRS not following the law. The IRS also……

Do Vacation Rentals Trigger Self-Employment Tax?

Short-term rental or vacation rental properties have increased in popularity. They are also popular investments. This includes real estate rented on Airbnb and its competitors, such as Vrbo, Booking.com, Tripadvisor, Agoda, Expedia, TUI Villas, TravelStaytion, HomeToGo, Plum Guide, and Google. Taxes are one reason for the increase in popularity. Short-term rentals can provide a number……

Filing Jointly v. Separately: Impact on Innocent Spouse Relief

There are a number of factors those who are married have to consider when deciding on their tax filing status. If you were to search for information about the difference between filing jointly v. separately (or mfj vs mfs), you would likely find articles that explain the mathematical calculation. They explain which tax deductions and……

S Corporation Election Not Signed by Community Property Spouse is Valid

There are tax implications for just about everything we do. Even simple business transactions present tax opportunities and pitfalls. While we prefer to focus on tax opportunities, we also spend a lot of time fixing tax problems. We are in Texas, which is a community property state. So one issue we see over and over……

IRS Whistleblower Claims Denied for Inadequate IRS Audit

The Revenue Restructuring Act of 1998 made significant changes to the IRS. One change is that IRS employees cannot be rewarded based on enforcement efforts. This has changed the nature of the relationship between IRS management and IRS employees. For example, IRS auditors report to group managers. Group managers focus mostly on assigning audit cases……

Can a Self-Directed IRA Hold Gold Coins?

Precious metals IRAs are popular. This includes silver IRAs, gold Roth IRAs, and even gold-backed IRAs. These accounts allow investors to invest in these alternative assets. This in turn allows the investors to diversify their exposure to stocks and bonds. For those with special interests and knowledge to make these investments, they can also allow……