by Tom Regan | Jan 3, 2013 | Audit
There are many tax and social benefits to gifting a conservation easement. Unfortunately, some taxpayers are in too much of a hurry to make the contribution and do not complete all of the steps necessary to receive all of the tax benefits. The U. S. Tax Court,...
by Tom Regan | Dec 27, 2012 | Audit
Doing well in a full time job is hard enough, but some people, for many reasons, spend significant time, energy, and money away from their “regular job” trying to build themselves a better future through real estate. They often feel like they spend every waking hour...
by Tom Regan | Nov 27, 2012 | Independent Contractors
This is the first article in a series dedicated to using Section 530 of the Revenue Act of 1978 as protection for businesses that have been using independent contractors, in good faith, but are now facing an IRS or State of Minnesota audit of that practice. Section...
by Tom Regan | Nov 6, 2012 | Audit
I have been watching the tax cases dealing with building facade easements for insight into how the IRS and the courts are reacting to the significant deductions being taken by partners in real estate partnerships. These partnerships generally buy a building, develop...
by Tom Regan | Oct 29, 2012 | Collections
Yes, under the right circumstances. Income taxes (not trust-fund or withholding taxes) are dischargeable in a Chapter 7 Bankruptcy if certain conditions are met. Has it been more than three years since the original due date, including extensions, for the return? If...
