Tax Controversy

Not everyone has the need or desire to open up a foreign bank account, but they are fairly common for some individuals in Minneapolis. These accounts are held offshore, in another country and under different rules, so how are they treated under the Federal Tax Code? And what are the reporting requirements?  Even the saaviestcontinue reading…

Major legislative changes were made in the recent past and especially this week that will affect many same-sex couples that currently reside in Minnesota or may choose to move here in the future. That change was to legalize same-sex marriage. This change will affect not only the personal lives of many, but it will alsocontinue reading…

There are a lot of taxpayers in Minneapolis that have ties to a business, whether it is a somewhat detached investment interest or a hands-on management role. Can these businesses be reached to satisfy a personal tax liability? The answer, like so many others is “it depends.” Much of the argument rests around not only howcontinue reading…

In many marriages one spouse takes care of the finances. Whether it is for ease or because of understanding, the bills are often paid, the investments made and the assets controlled by one and not both partners. When the spouse with the financial responsibilities dies, it can be a very confusing task for the other.continue reading…

Tax controversy is a term that involves a contested matter with the Internal Revenue Service. The matter can be a civil or criminal matter and administrative or judicial. When dealing with the IRS there are a few truths, one being that CPAs are adept at preparing tax returns and are trained in auditing a companycontinue reading…