Confrontations with Minnesota or federal tax collectors are not something any business or individual looks for. Avoiding practices that could lead to needing to resolve tax disputes is something most experts agree deserves prioritizing. Achieving that aim typically requires solid tax planning, or as singer/songwriter, Carly Simon crooned about – “Anticipation.” Anticipation is about looking forward. Wherecontinue reading…
Tax Controversy
Nexus tax web isn’t untangling with passage of time
Back in the 1990s, the U.S. Supreme Court issued a ruling that established that if a business has a physical presence in a state, even if that presence is a person, sales taxes apply to any transactions that occur. As we noted in a series of posts more than a year ago, this notion of so-called nexuscontinue reading…
I’m a ‘responsible person.’ What might that mean re: Taxes?
Being a responsible person is a good thing. Of course, there are two sides to every coin and the same applies when using this term. In terms of the IRS, carrying the responsible person label in a role associated with a Minnesota business can mean significant headaches for you in the event of a dispute overcontinue reading…
Beware: Too-good-to-be-true tax avoidance plans often are
There is tax evasion and then there is tax avoidance. The former isn’t something anyone with experience in tax law would recommend. The latter is legal, but the caveat is that there are limits to what is possible. The IRS has its own notions about what those limits are. And those with experience in taxcontinue reading…
Report suggests IRS tax whistleblower program will grow
The IRS uses many tools to identify and go after individuals to meet their tax obligations. Those with experience dealing with federal or Minnesota tax issues know that one of the most common is the audit. The error many people seem to make, though, is drawing the conclusion that an audit means the agency alreadycontinue reading…