Tax Controversy

President Donald Trump made due on his promise. Congress got a proposed tax law onto his desk before the end of the year. He signed it. Now taxpayers are trying to get a better idea of how the law will impact their tax returns. A recent piece in Forbes notes that whether or not individual tax payerscontinue reading…

The sale of a home is more than just a simple transaction. It is important that home owners are aware that these transactions can have tax implications. Three specific tax implications to watch for include: Gain or loss. A publication by Tax Buzz touches on this, noting many taxpayers assume the calculation for determining if a sale wascontinue reading…

The Internal Revenue Service (IRS) was recently accused of discriminatory practices. In Linchpins of Liberty v. United States of America, a group of plaintiffs allege that the agency intentionally delayed the approval of their tax-exempt status. How did these groups build a case against the IRS? One of the linchpins for the case is the fact thatcontinue reading…

It can be difficult for entrepreneurs and humanitarians to put together businesses to benefit society. There are a few perks that are present to help encourage these endeavors. One of the main perks: exemption from taxation. How can an organization qualify for exemption from taxation? Charitable organizations operate under the rules provided by the Internal Revenuecontinue reading…

Talk about your sticky wickets. Pardon what might seem a flip remark about a sensitive issue, but it’s hard to describe the situation regarding legalizing marijuana any other way. Minnesota is only at the stage of allowing the use of marijuana for a short list of specific medical conditions. Regulatory structures for that aren’t incontinue reading…