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Tax Liability Income Taxes Amended Tax Returns

Bowditch & Dewey

I Made a Mistake on My Taxes – Now What Do I Do?

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Mistakes happen, and the tax law can be complex and ambiguous. The question becomes, what does a taxpayer do if they discover a mistake on their tax return? Should an amended tax return be filed? In some cases, the taxpayer...more

Freeman Law

Tax Court in Brief | Lamprecht v. Comm’r | Qualified Amended Return and Foreign Banking Reporting

Freeman Law on

Tax Litigation:  The Week of August 29th, 2022, through September 2nd, 2022 Sparta Pink Property, LLC v. Comm’r, T.C. Memo. 2022-88 | August 29, 2022 | Lauber, J. | Dkt. No. 12114-20 Pressman v. Comm’r, T.C. Summ. Op....more

Freeman Law

Protective Refund Claims: Preserving the Right to a Tax Refund

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When is a protective refund claim available?  Taxpayers often face uncertain outcomes in litigation or business transactions, giving rise to contingent tax refund claims.  For example, if a pending lawsuit ends in a favorable...more

Freeman Law

A Missed Tax Election: Section 9100 Relief Gives a Second Chance

Freeman Law on

It’s a common scenario: A taxpayer misses the deadline to file an election with the IRS. What options does the taxpayer have now? I have helped many clients out of this jam, and it is a situation that often presents several...more

Freeman Law

Qualified Amended Returns: How to Avoid Tax Penalties

Freeman Law on

A “qualified amended return” is an amended tax return that, if properly filed before a taxpayer is “on the IRS’s radar,” protects a taxpayer against accuracy-related penalties—in layman’s terms, it is a get-out-of-jail-free...more

Perkins Coie

You Received One of the IRS Crypto Letters—What’s Next?

Perkins Coie on

Taxpayers should take prompt action to assess their situation, yet move carefully before making representations or filings to the IRS. Over the past month, the Internal Revenue Service (IRS) has sent letters to over ten...more

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