So you ask, what is a Whipsaw tax assessment? Whipsaw tax assessments are statutory notices of deficiency assessments. It is a technique utilized by the examination division of the IRS when auditing an abusive trust situation where a taxpayer has attempted to reduce or eliminate their tax liability through the use of one or more [...]
Daily Archives: January 7, 2010
News Release on Federal Tax Levies and Federal Tax Liens
http://business.wbztv.com/cbslocal/?Account=wbztv&GUID=11377176&Page=ediaViewer This major news release is indicative of the climate of the Federal government taking stepped up enforced collection activity on everyone owing the FEDS tax.
Posted in Uncategorized Tagged back taxes, federal tax levies, federal tax liens, IRS collections Leave a comment
Facts About Dependents And Exemptions
Here are some tips on this year’s tax laws. When you prepare to file your income tax return for 2009, here are two factors regarding your tax situation: Dependents and Exemptions. If someone else claims you as a dependent, you may still be required to file your own tax return. Whether or not you must [...]
Posted in Uncategorized Tagged Dependents, Exemptions, filing your tax return, IRS, taxable income Leave a comment
