Monthly Archives: August 2015

PAYMENT OF ALIMONY HELD NOT DEDUCTIBLE – TAX COURT APPLIES STATE LAW

Posted on August 28, 2015 by taxpenaltylawyer

For alimony to be deductible under Sec. 215 (a) of the Internal Revenue Code (IRC), the payments must meet all four of the conditions specified in IRC Section 71(b) (1). One of those conditions is that the payment not continue … Continue reading →

Posted in DIVORCE TAX | Tagged , , , , , , , | 2 Comments

STATUTES OF LIMITATIONS WORK TWO WAYS

Posted on August 26, 2015 by taxpenaltylawyer

In my blog post of August 10, 2015 (Statutes of Limitation and Streamlined Filings or File Forward Strategies) I discussed the impact of various statutes of limitations (SOLs) on Streamlined Filing decisions.   It is important to remember that SOLs are a … Continue reading →

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STATUTES OF LIMITATIONS AND STREAMLINED FILINGS OR FILE FORWARD STRATEGIES

Posted on August 10, 2015 by taxpenaltylawyer

In earlier blog posts I have discussed how Streamlined Filings differ from OVDP submissions. One major difference: unlike an OVDP submission, a taxpayer making a Streamlined Filing is not informed upfront whether his or her filing has been accepted as … Continue reading →

Posted in 2014 OVDP, FBARS, STREAMLINED FILING COMPLIANCE PROCEDURES, TAX STATUTES OF LIMITATIONS | Tagged , , , , , , , | Leave a comment

SOME FBAR GOOD NEWS AND MORE OVDP BAD NEWS

Posted on August 6, 2015 by taxpenaltylawyer

FBAR FILING DATE CHANGED TO APRIL 15 It is rare but occasionally congress enacts a law that makes eminent good sense. Tucked away in the Highway Funding Bill (HR 3236) signed by President Obama on July 31, 2015 are tax … Continue reading →

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