Issue Under the tax code, when cancellation of indebtedness income excluded from gross income results in a reduction of combined net operating losses, and a business entity can carry forward this reduction to offset income in following tax years, must…
In this most interesting presidential election primary season, many different issues have dominated the news. Perhaps no candidate has dominated the airwaves more than Donald J. Trump, the leading candidate in the Republican primaries. Unsurprisingly, Mr. Trump has made a…
Congratulations on your New Home Purchase…Oops! You’re liable for Seller’s Taxes! As a buyer, no more rude shock can intrude on your new home celebration than finding out you are liable for Seller’s taxes. Understandably, by the time of…
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At Thorgood Law Firm in New York, we are IRS attorneys dedicated to bringing legal counsel to taxpayers across the United States.
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