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The Best Advice for People Under IRS Investigation
https://youtube.com/shorts/tp3XQNIoUS4?feature=share And as a managing attorney at the Tax Workout Group’s Criminal Defense Group, what sort of advice would you give, or would you provide to someone currently under criminal investigation by the IRS? There's an old saying that the person who represents themselves has a fool for a lawyer. And that's no more true…
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Why I Switched From Government To Private Practice_1
https://youtube.com/shorts/LBEuSRjXBXE?feature=share So, Brian, after devoting a substantial amount of your time working for the government, what made you switch into private practice? And what has the journey been like since then? The goal of going to private practice was to leverage what I've learned at the government into helping people and their businesses rather than…
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When It’s Time To Engage A Tax Law Firm
https://youtube.com/shorts/uIbH734bjr8?feature=share People acting on behalf of these taxing authorities such as auditors, they tend to have a field day with these taxpayers. When should a business owner seek assistance for tax problems? So, generally a business owner should seek assistance for tax problems as early as possible. All too often, taxpayers believe everything is fine,…
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TWG’s Main Tax Practice Areas
https://youtu.be/JeXjbf91g38 Tax bankruptcy, tax controversy, criminal tax defense and tax compliance. And what are the main tax practice areas of the Tax Workout group? So, at Tax Workout Group, we have four main practice areas: tax bankruptcy tax controversy, criminal tax, defense and tax compliance. Our tax bankruptcy group focuses on representing clients primarily in…
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TWG’s Unique Selling Point
https://youtu.be/dt6OH5Uo2cQ So by combining our best-in-class team of tax and tax bankruptcy attorneys with various technological advancements, we make it easy for our clients. What is unique about your law firm practice model? Can you explain the virtual nature of the firm and how it's different from a traditional law firm? Yeah, so we have…
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Overpayments and the timing of the bankruptcy filing – Debtor Beware!
A popular planning objective for taxpayer-debtors who are anticipating a bankruptcy filing while expecting a refund, is to make an election to apply the overpayment to a subsequent year. A taxpayer can elect to have an overpayment refunded or applied to the subsequent year’s estimated tax payment. This election, once made, is generally irrevocable (Sec.…
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¿Puede el Capítulo 7 de bancarrota descargar los impuestos estatales sobre las ventas?
El Capítulo 7, coloquialmente conocido como "quiebra directa", es el capítulo "operativo" del Código de Quiebras que normalmente rige la liquidación de un deudor. La liquidación es una forma de alivio que ofrece la legislación concursal y que implica la recaudación, liquidación y distribución de los bienes no exentos del deudor y culmina, si el…
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Can Tax Advice on TikTok constitute «Reasonable Cause»?
As social media continues to grow with new platforms such as TikTok emerging onto the scene, many purported tax advisors are finding a market with large demand for free tax advice. Given the ease of distributing information through this platform and the need for tax advice from laypersons who may not have the financial means…
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The 2019 Global Extension to File Returns – Don’t let it Impact your Bankruptcy Discharge
Generally, in order to convert an income tax claim from priority status to a general unsecured claim eligible for discharge in bankruptcy, an individual must satisfy the three-year rule. That is, the filing of bankruptcy must occur more than three years from when the tax was due, including any extensions. If the debtor timely applied…
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Reliance of tax advice as a defense to the substantial underpayment penalty.
Taxpayers are eligible for relief when they rely on actual advice from a tax advisor, i.e. professional judgment or analysis of a tax advisor, as opposed to “tax preparation” or clerical tasks associated with a tax advisor’s duties. However, if the tax advisor simply transcribed figures provided by you in preparing a tax return and…
