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Shamsey Oloko February 24, 2017 News 0

Most Confusing Parts Of The Income Tax Code, Part 1: Passive Activity Loss Rules

Many provisions of the Internal Revenue Code are complicated. Proper interpretation of the rules and regulations contained in these provisions requires the assistance of an experienced and knowledgeable tax professional. The first part of the series about the most confusing provisions…

Shamsey Oloko January 10, 2017 Audit, Business Expense, Business Expenses, Charitable Contributions, Child and Dependent Care Credit, Child Tax Credit, Civil Liabilities, Civil Penalties, Collection Activities, Criminal Liabilities, Delinquent Taxes, Dependents, Expenses Deductions, Filing Status, Fraudulent Return, Income Tax, Itemized Deductions, Late Returns, News, Qualified Expenses, Tax Evasion, Tax Fraud, Tax fraud & evasion 0

Seven Deadly Tax Sins

7 Deadly Tax Sins When it comes to the IRS, some bad acts are worse than others. We have compiled below the top ones to avoid at all costs. However, if you should find yourself in the middle of one,…

Shamsey Oloko July 8, 2016 Corporate Tax, Corporate Tax, Income Tax, News, Tax Court, Taxable Income 0

Makric Enterprises, Inc. v. Commissioner: When Tax Mistakes Are Costly

Not knowing the details of a business transaction sounds preposterous on its face, especially when the ignorant taxpayer is the party which formulated the transaction. In the case of Makric Enterprises, Inc. v. Commissioner, TC Memo 2016-44, a failure to make…