Legal Articles, General Practice
4 Steps to Take After a Car Accident in St. Louis, Missouri
From medical bills to loss of income, an auto accident often comes with a costly aftermath. If you were at no-fault in the car accident, an attorney in Missouri could make the process a lot easier so that you can focus on your recovery.
Chapter 11 Bankruptcy Made Easier for Small Businesses Struggling with COVID-19 Downturn
The Small Business Reorganization Act of 2019 became effective on February 19, 2020. The Act, along with recent changes to the Bankruptcy Code contained in the CARES stimulus bill, will make it easier for small businesses to reorganize through Chapter 11.
The new law could not have come at a better time for South Florida companies suffering from the financial ramifications of the COVID-19 pandemic.
NURSING HOME AND ALF NEGLECT AND ABUSE: YOUR RIGHTS (AND COVID19 LITIGATION UPDATES)
You or your loved one has been the victim of abuse or neglect in a nursing home, assisted living facility, or by an aide from a Home Health Agency, with important Covid19 updates included.
SOCIAL SECURITY – DON’T BE A VICTIM OF A SCAM
Scams never go away. 2020 added Covid Scams but the theft of Social Security information is always with us. In 2019 there were more than 450,000 complaints about fraudulent attempts to obtain personal information and steal Social Security benefits.
Representing Social Security Disability clients for many years, we are all too familiar with the scams our clients have dealt with. Here are some tips to avoid being a victim:
The Ups and Downs of the Program for Voluntarily Reclassifying Your Workers
Whether a worker is properly classified as an employee or as an independent contractor depends upon the facts and circumstances. Generally, the determination is made under common law tests considering the right to control and direct the individual performing services. However, in some factual situations, the determination of the proper worker classification status may not be clear.
The IRS Says I Owe More Tax and We Couldn’t Reach an Agreement. Now What?
When a taxpayer receives a notice from the IRS proposing an additional assessment of tax, the taxpayer can often work administratively with the IRS to resolve the dispute. However, many times, the taxpayer and IRS are not able to come to an agreement. In those instances, there are four different forums which can be utilized to litigate a Federal civil tax case: the United States Tax Court, United States District Courts, the United States Court of Federal Claims, and United States Bankruptcy Courts.
QBI Guidance Issued; Safe Harbor Provided for Real Estate Enterprises
As we detailed in Section 199A: New 20% Pass-Through Deduction1, the Tax Cuts and Jobs Act of 2017 created new Internal Revenue Code §199A-providing a significant tax break to flow-through entities and structures. Subject to certain limitations, many eligible taxpayers (excluding C corporations) may deduct up to 20% of the “qualified business income” (QBI). Significantly, even qualified real estate businesses may benefit from the deduction.2
IRS Reminds You to Report Virtual Currency Transactions
On March 23, 2018, the IRS issued IR-2018-71, reminding taxpayers that they must report income from virtual currency transactions on their income tax returns. The IRS defined virtual currency as “a digital representation of value that functions in the same manner as a country’s traditional currency.” The IRS emphasized that, as with any other property transactions, virtual currency transactions are taxable.
No Evidentiary Burden for IRS Applicable to Accrued Interest and Penalties
Taxpayers who are delinquent with their IRS taxes all too often find themselves facing rapidly accruing interest and penalties, which snowball into dismally high amounts. As the case discussed below indicates, when delinquent taxpayers and the IRS have repeatedly failed to resolve a matter, the IRS can file an action to reduce liabilities to judgment. And, assuming the action is filed within the statute of limitations (SOL) applicable to all tax years at issue, the IRS can easily win on motion for summary judgment to collect the accrued interest and penalties without submitting any evidence in its motion regarding these amounts. Cases like this should be read to prompt delinquent taxpayers to engage the services of a tax professional who can help them find a resolution with the IRS as soon as possible.
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