Tax Developments
Tax law is a moving target. Legislative changes, amendments to regulations, updated tax guidance and new court decisions constantly alter the tax landscape. Learn how significant tax developments can affect individual and business taxpayers.
2020 Deadlines and Delays
More than ever, this tax season will be riddled with delays despite the extended tax deadline. The Internal Revenue Service was already behind before the COVID-19 outbreak. The IRS closed in late March due to the pandemic. And now they are struggling to re-open and...
Reducing the Tax Gap
Politicians are in constant debate over how to decrease the budget deficit: raise taxes or cut them? Tax researchers often cite a more politically-neutral third option: reduce the “tax gap.” The tax gap is simply the difference between taxes owed and taxes paid....
IRS More Behind Than Ever Before
According to a report from National Review, recent changes to the tax code, staffing issues and aging technologies have created significant administrative challenges for the IRS: New Rules – There are more than 80 changes to the tax code within the new Tax Cuts...
Choosing a Business Structure
If you are running or creating a small business, Britt & Burroughs understands that you have a lot of decisions to make. This September, we will look into some of the options for choosing a business structure and how we can help. Taxes Influence Business...
Can the IRS Revoke Your Passport?
Some taxpayers in danger of losing their passports now have some breathing room, thanks to the Taxpayer Advocate Service. Don't let the IRS revoke your passport. The TAS Offers Help On August 8, 2019, the Internal Revenue Service (IRS) reminded taxpayers with...
Tax Withholding 2019 – Are You Ready?
Get a headstart on the 2019 tax season. Now is a great time to ensure not only that your return is compliant with current tax laws but also optimized so that you pay no more than required. Make sure you've properly managed tax withholding 2019.Here’s What Taxpayers...
Do You Have Expiring ITINs in 2019?
Get a headstart on the 2019 tax season. Now is a great time to ensure not only that your return is compliant with current tax laws but also optimized so that you pay no more than required. If you have expiring ITINs in 2019, make sure you renew them before the end of...
The United States Tax Court Adopts Vinatieri as a Financial Hardship Exception to the IRS Compliance Rules
The United States Tax Court Decision in Vinatieri v. Commissioner of Internal Revenue, 133 T.C. 392 (2009), now seems to stand for a marked departure from prior collection standards. In Vinatieri, a pro se taxpayer filed a petition for review of the IRS settlement...
Mediating With The IRS
Mediation is an efficient Alternative Dispute Resolution (ADR) tool in almost all justiciable controversies from commercial contracts to domestic relations. Unfortunately few tax professionals and even fewer taxpayers know that mediation is available as a tool to...
Litigation Costs in Contingent Fee Contracts — Loans or Business Expenses
By Daniel L. Britt, Jr. , and Christopher Eastwood[1] Risk is endemic to any business enterprise; none, more so, than the risk inherent in plaintiffs’ trial law. Sadly, attorneys who rely upon contingent fees for their income also face risks filing their tax returns....