Tax Litigation Law Office of Scott Kauffman
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October 2014 Archives

Account seizure and structuring allegations: IRS to dial it back

RS may be able to seize your bank account or other assets if you don’t pay your taxes or work out an arrangement to do so. This is a pretty basic principle, though its application to particular cases naturally depends on the specific facts.

Understanding the health-care coverage penalty

For those who opted out of purchasing health-care coverage mandated by the Affordable Car Act, this is the first year that they will owe a penalty. The massive 2010 health-care changes came with a carrot in the form or tax credits to reduce premiums, but also the stick of a tax penalty for those who did not comply.

Tax court decision benefits artist

In a recent post, we covered the difference between a business and hobby. The distinction is important for tax purposes and often relates to the profitability of an enterprise. Expenses for a business are deductible even if they result in a loss, but those related to a hobby are limited.