"Abatement" is a pretty multi-syllabic word. It generally means a reduction or lessening of something, but it can also mean a cancellation or removal.As a result, there is an element of ambiguity implicit in the word "abatement." Indeed, its continued use by the IRS...
Given the complexity of the federal tax code, it's easy to overlook some detail or other in the rush to get your taxes filed.The IRS is aware of this. That is why there is a procedure available to allow you to amend your tax return.In this post, we will discuss when...
"Half a loaf is better than none," or at least so the old saying goes. And indeed, compromise is often better than protracted conflict.To a somewhat surprising degree, this is true for the IRS as well. In recent years, the agency has shown itself increasingly willing...
In the first part of this post, we began discussing the role of the IRS Criminal Investigation division.As we noted, the CI's role includes some rather surprising features. It goes beyond investigating suspected tax crimes to include other types of financial crimes....
There is no single magic bullet for effective tax planning.To be sure, the majority of taxpayers use a professional tax preparer to assist them with tax compliance. But even a competent preparer cannot make bricks without straw. He or she must first be given the...
