Anatomy of an Accepted Offer in Compromise
A client who I will refer to as "Tax Payer" or just "TP" (for short) was referred to me in early 2013. TP had not paid taxes since 2004. TP owed approximately $10,000 in taxes for 2005-2010. TP did not…
(Independent Contractors) Independent Contractors – A Tune-up
Ok. I have touched on the definition of what constitutes an independent contractor vs. an employee in prior articles. Still, so often there is so much riding on whether a worker is characterized as an independent contractor or an employee,…
(Business Entities) Joint Ventures and Space Aliens – Do They Really Exist?
When I graduated law school in 1990, Joint Ventures (JV's) were really hot. Seemed they were everywhere, in every business sector from entertainment to healthcare to real estate development. To me just saying the words "joint venture" is kind of…
(Internet Transactions) Domain Names
"A rose by any other name would smell as sweet" is a commonly quoted part of a dialogue in William Shakespeare's play Romeo and Juliet, in which Juliet argues that the names of things do not matter, only what things…
(Giving Back) Off to Nepal
Well, I am off to Nepal again. This will be my fourth trip. My wife, Stephanie Waisler-Rubin, is the founder of the Unatti Foundation (www.unattifoundation.org). I have the privilege of serving as the General Counsel of the foundation. And a…
Death and Taxes: Are Fantasy Football Winnings Taxable?
Benjamin Franklin said, "The only things certain in life are death and taxes." Right again Ben. Recently I was contacted by an individual who told me he had started to win a lot of money playing fantasy football. He wanted…
Xenophobia (Spelled FATCA)
Xenophobia. I have always loved that word. Just saying it makes me feel smarter. My handy Webster's dictionary tells me it means "fear or hatred of strangers or foreigners." I know we are taught not to take candy from strangers.…
Federal Tax Liens and Third Parties … Where’s the cake?
When I was growing up I loved going to birthday parties. Cake, ice cream, games, toys, presents, boy was that fun. Then I got a little older, and I had a bar mitzvah party. Cake, presents, girls (strategically seated at…
Black Holes, Taxes and Discharges
I took the following out of Wikipedia: "A black hole is a region of spacetime from which gravity prevents anything, including light, from escaping." Based on the foregoing, the following is from Steve-pedia: "Non-discharge-ability is a region of bankruptcy/tax law…
What to Expect When Your Corporation is Expecting an Examination (Audit)
Well it's your not so lucky day. You've received a letter from the IRS that your corporation has been selected for an examination. You call the designated IRS representative to discuss the letter and possibly to schedule a date for…