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Category: IRS

  • Solving Tax Problems: Three key strategies

    When solving tax problems with the IRS, state or local government, we consider three key issues: Solve the immediate problem as quickly, efficiently and at the lowest cost possible. This is mostly a technical issue of knowing how to work within the complex tax compliance systems to resolve liens, levies and collection actions. Address the underlying cause to ensure that it does not happen again. Tax problems tend to be symptoms of other financial stress or management weaknesses. We delve into this to ensure smooth operations going forward. Replace losses. Tax problems cost time, money and opportunities. We want to

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  • A closer look at the recent tax problems of Realtors

    Disclosure: For the purposes of this article, I use the term “Realtor” to describe everyone I work with who is involved in the real estate field. In most but not all cases used as examples my clients are licensed Realtors as well as participants in other real estate activities. Use of the term here in this post is simply a matter of convenience in the discussion of the relevant tax and financial management issues.   This past tax season I saw more tax problems with Realtors than in any other previous year. While our tax administration system was widely described

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