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…
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…
Gig economy growth has serious business tax implications
It’s hard to know how large the so-called gig economy is and how fast it is growing. The federal Bureau of Labor Statistics says current data sheds some light on the subject, but the agency admits it’s unreliable because it’s so old. One report by the Brookings Institution’s Metropolitan Policy Program, credited by some as the mostcontinue reading…
What’s my best option for resolving IRS tax claims?
There is no single answer to the question posed above. Perhaps the most useful response is that the best option is the one in which you clear your tax debt in the shortest amount of time with the least amount of financial hardship. In one previous post, we discussed the potential value of seeking a first time penaltycontinue reading…
Is there a statute of limitations on IRS collection of taxes?
For nearly every legal action, there is a point after which the case cannot be pursued. This is called the statute of limitations. Under Minnesota law, the shortest period of time in which a civil case can be brought is two years. The shortest period for criminal cases is three years. There is no statute ofcontinue reading…