The Guterman Tax Law Firm, PC

Curious to know the difference? Read this article and get more information on when's best to contact a Tax Attorney. https://www.superlawyers.com//0034525b-730b-406f-b00b-6309

The IRS revamps its ‘postcard-sized’ tax return, drafts a new one for 2019 https://www.cnbc.com//the-irs-drops-its-postcard-sized-tax

Reuters Featured Article of the Day U.S. TAX COLLECTORS URGE OWNERS OF VIRTUAL CURRENCIES TO PAY BACK TAXES, FILE AMENDED RETURNS .... By Katanga Johnson . WASHINGTON (Reuters) - The U.S. Internal Revenue Service on Friday said it was sending thousands of letters to taxpayers who failed to report virtual currency transactions, saying they may owe taxes. . The IRS said it planned to send over 10,000 letters to taxpayers in an effort that began earlier in July and will continue through August. . "Taxpayers who do not properly report the income tax consequences of virtual currency transactions are, when appropriate, liable for tax, penalties and interest", the agency said in a statement. . "Taxpayers should take these letters very seriously by reviewing their tax filings and when appropriate, amend past returns and pay back taxes, interest and penalties." . In July 2018, the IRS announced that it would begin a series of compliance campaigns on U.S. taxpayers to "collect tax on worldwide income from all sources", including transactions involving virtual currency. . The IRS has said that it considers cryptocurrencies such as bitcoin property for federal tax purposes, meaning any profits or losses from their sale should generally be reported as capital gains or losses. https://yournews.com//u-s-tax-collectors-urge-owners-of-v/

We've all heard of oppurtunity zones: Now here's what you need to engage By: Gerry Clancy, Nick Gibbons, Michael Krueger and Brett Mlinarich https://www.lexology.com/library/document.ashx...

Then and Now: 40 years of California tax: Here are a few gems . By California Taxletter Staff . Reporting on state tax issues is far from the dull task that it may seem to someone from outside of our industry. But if you've been with the California Taxletter for the long haul, you know that the tax world is filled with all kinds of gems, from weird legislation to crazy taxpayer appeal arguments to FTB audit tactics. If you're a newer subscriber, here are a few entertainin...g tidbits we covered in the past. . In September of 1984, we reported that the FTB was searching the "foothill and mountain communities" near the Nevada border looking for taxpayers who physically lived in California but who have vehicles registered in Nevada, P.O. boxes in Nevada, etc. Some of these taxpayers were estimated to not have filed a California return for up to 15 years. . In 1989, the "Answer the Damn Phone" bill passed,1 and in January 1990 we reported on new Government Code 11022, which had been added to the Code to require state government agencies to answer the phone within 10 rings between the hours of 8:00 a.m. and 5:00 p.m. But compliance was not required if answering the phone in a timely manner would require overtime, compensating time off, or when an emergency or illness affects staff levels. . After resigning from the vice presidency in 1973 for accepting bribes, Spiro Agnew moved to Ranch Mirage, California. In 1982, he was court-ordered to pay restitution of the bribes plus interest in the amount of $268,482 (that's $716,650 in 2019 dollars), which he then deducted on his California return. Needless to say, the deduction was disallowed and the BOE rejected his claim for refund, saying it would be "ludicrous" to construe the repayment of bribes as a deductible business expense.2 1 Ch. 89-706 2 Appeal of Agnew (April 6, 1989) 89-SBE-009 From Spidell’s July 2019 California Taxletter