Audit Defence. Legal news and articles for April 14 - 29, 2012

Spotlight on Business: It's Your Company — Not YouSupreme Court Has Taken Ammunition From IRS In Son Of Boss Cases - Time To Fix ...Supreme Court Takes Break From Obamacare To Bail 1% Out Of Abusive SheltersIRS Loses Tax-Shelter CaseSenate Considers State and Local TaxesRachel Duncan tells The State: 'I will be sorry for the rest of my life'Canada-US Cross-Border Bulletin: What You Know About FBARs Can Hurt YouAdvocacy group files IRS complaint against ALECFive More Tips For Amending Tax ReturnsMaker Of 'Up With People' Movie Knocks Down IRSThree Worst IRS Tax TrapsThe Pale King's Depiction of IRS Gets Fact-CheckedA Brief Audit of Politicians' Tax ProblemsDoes Going on Return Filing Extension Increase IRS Audit Risk?10 Things the IRS Won't Tell You

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Why would you need legal assistance? You might be surprised
Las Vegas Review-JournalApril 11, 2012

You need legal advice during an IRS audit. * A car breaks down while under warranty, and you need help getting the manufacturer or dealer to honor the warranty. * You're adopting a child and need a lawyer to help you complete the necessary paperwork ...more »

Ritacco admits taking bribes Ritacco critics see vindication in plea
Asbury Park PressApril 6, 2012

Rob Glantz, a special agent and spokesman for the IRS in Newark, said Ritacco could face up to 14 years in federal prison when sentenced July 12. Ritacco's lawyer, Jerome A. Ballarotto, said the 64-year-old former superintendent also agreed to forfeit ...more »

Audit Defence. News and Stories

Spotlight on Business: It's Your Company — Not You
NyackNewsAndViewsApril 29, 2012

by Glen Keene, JD, CPC Lawyer and professional coach Glen Keene gives practical tips to businesses about improving customer and employee relationships and expanding their customer base and more. Do you take great pride in the business you've built?more »

Supreme Court Has Taken Ammunition From IRS In Son Of Boss Cases - Time To Fix ...
ForbesApril 27, 2012

Normally the IRS has three years to audit you after you have filed your return. If you “forget” to report a significant percentage of your gross income (25%), they get an extra three years. I think the idea is that it is easier to spot phony deductions ...more »

Supreme Court Takes Break From Obamacare To Bail 1% Out Of Abusive Shelters
ForbesApril 26, 2012

Generally the IRS only has three years to audit you. If you leave out more than 25% of your gross income, though, they get six years. What happens if you sell something and overstate your basis in it ? We have an income tax not a gross receipts tax.more »

IRS Loses Tax-Shelter Case
Wall Street JournalApril 25, 2012

By JOHN D. MCKINNON WASHINGTON—The Supreme Court ruled against the Internal Revenue Service in a tax-shelter case, underscoring the agency's challenges in rooting out improper tax avoidance. The IRS waited too long— more than three years—to ...more »

Senate Considers State and Local Taxes
Accounting TodayApril 25, 2012

The hearing was the latest in a series held by the committee examining various aspects of tax reform. “As we reform the Tax Code to encourage growth and make our country more competitive, we need to ask whether the current exemptions and deductions ...more »

Rachel Duncan tells The State: 'I will be sorry for the rest of my life'
The StateApril 25, 2012

Rachel Duncan walks into the Matthew J. Perry US Courthouse with her lawyer, Greg Harris, left. Feb. 16: Hospitality Association accountant Rachel Duncan tells boss Tom Sponseller she has embezzled hundreds of thousands of dollars to feed her online ...more »

Canada-US Cross-Border Bulletin: What You Know About FBARs Can Hurt You
JD Supra (press release)April 23, 2012

The release confirmed that the IRS will not assert failure to file and failure to pay income tax penalt ies against taxpayers who file delinquent returns and do not owe US tax (such as due to the application of the foreign tax credit).more »

Advocacy group files IRS complaint against ALEC
KFVSApril 23, 2012

Prosecutors and defense lawyers in the John Edwards trial were poised to begin making their case to jurors on whether the former presidential candidate violated federal campaign finance laws. In a low-key event, George Zimmerman was released from a ...more »

Five More Tips For Amending Tax Returns
ForbesApril 21, 2012

Mail each amended return in a separate envelope to the IRS “campus”—they used to be called “IRS Service Centers”—for the area where you live. The Form 1040X instructions list the addresses for these IRS campuses. 7. Amended returns are more likely to ...more »

Maker Of 'Up With People' Movie Knocks Down IRS
ForbesApril 20, 2012

During 2006, 2007 and 2008, the years at issue, Storey, now a partner at Ballard Spahr LLP, earned more than $1 million from her work as a water rights lawyer. After an audit, the IRS disallowed all her film-making losses for those years and assessed ...more »

Three Worst IRS Tax Traps
ForbesApril 17, 2012

Opinions about tax traps vary widely, but I consider these the worst parts of the tax code. Personal Injury Exclusion. If you're physically injured in an accident and receive damages, they are tax free. So says Section 104 of the tax code.more »

The Pale King's Depiction of IRS Gets Fact-Checked
Daily BeastApril 17, 2012

David Foster Wallace's posthumous tax-obsessed novel 'The Pale King' gets fact checked against what really happens at the IRS. Do tax collectors sometimes drive ice-cream trucks? Do special Social Security numbers set them apart from the rest of ...more »

A Brief Audit of Politicians' Tax Problems
New RepublicApril 17, 2012

Abramoff agreed to pay $1.72 million to the IRS and $25 million to various parties on other conspiracy and fraud charges. Webster Hubbell. A famous friend of the Clintons and former associate attorney general, Hubbell resigned from his federal post in ...more »

Does Going on Return Filing Extension Increase IRS Audit Risk?
ForbesApril 16, 2012

Despite these truths, many people are obsessed with IRS audit risk. Of all the questions I get as a tax lawyer, one of the most often repeated is whether you increase audit risk by going on extension. I say no, but you'll get different answers all over ...more »

10 Things the IRS Won't Tell You
Smartmoney.comApril 14, 2012

By JASON KEPHART When Cindy Hockenberry and her husband sent in a tax-penalty payment in 2007, they knew there was a chance their math might not jibe with the IRS's. When that turned out to be true and the amount was much higher than expected, ...more »

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