Monthly Archives: August 2018

Should I Violate Federal Law or State Law?

Posted on August 28, 2018 by Russ

Suppose you have a federal license to perform your occupation in your state of residence. That license allowed you to do [whatever it is you do] anywhere in the United States. Now, further suppose your state legislature passed a law … Continue reading →

Posted in Legislation, Nevada | Tagged NAEA, NVSEA | Comments Off

We’re Not Gonna Take It

Posted on August 23, 2018 by Russ

The IRS issued proposed regulations today on charitable contributions as it relates to state and local tax credits. Here’s a hint to politicians in Connecticut, New Jersey, and New York. The IRS is telling you: Here’s an excerpt from the … Continue reading →

Posted in Connecticut, IRS, Legislation, New Jersey, New York | Comments Off

One Giant Step Forward for Security (Maybe), One Huge Step Backward for Representation

Posted on August 23, 2018 by Russ

If you are a tax professional who does any representation work, do I have news for you…and it’s not good. Yesterday, the IRS made an announcement about redacting information on transcripts. Here’s an excerpt of the announcement: Moving to better … Continue reading →

Posted in IRS | Tagged IRS.eServices | Comments Off

When It’s Too Good to be True (Tax Shelter Edition)

Posted on August 21, 2018 by Russ

When reading Tax Court decisions, always be on the lookout for the word “scheme.” It’s usually a heads-up that what you’re reading isn’t going to cut it (from a tax perspective). So when the decision begins, These consolidated cases involve … Continue reading →

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Can You Spin Garbage Into Gold?

Posted on August 18, 2018 by Russ

I guess I’ll spoil the post: Rumpelstiltskin could spin straw into gold. Rumpelstiltskin, Inc. thought it could do the same for garbage, spinning it into tax credits. The Commissioner of the Internal Revenue Service disagreed. So did the Tax Court. … Continue reading →

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