Tax Law Blog | IRS Tax Attorneys
TAX LAW NEWS - TAX LITIGATION
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Tax penalties can be avoided if the relevant facts affecting the item’s tax treatment are adequately disclosed in the tax return. However, disclosure cannot be used to avoid incorrect valuation tax penalties.
Another way to dispute a tax penalty is to show that substantial authority exists for your tax treatment of an item. To establish substantial [...]
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The traditional view of an IRS tax audit is a face-to-face contact with an IRS auditor. About one-third of IRS “tax audits” are in the form of letters asking for explanations of various tax items on a tax return or supporting documentation. If you receive a tax audit letter from the IRS, examine your records [...]
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As of 2007, there are about 138 million taxpayers in the United States. The Treasury Department in 2006 reported, based on Internal Revenue Service (IRS) data, the share of federal income taxes paid by taxpayers of various income levels. The data shows the progressive tax structure of the U.S. federal income tax system on individuals [...]
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