Corporate, dissolution

What is Dissolution in Business?

September 13, 2023

Making the decision to close a business can be a difficult one, and the steps that must be taken to do so are often complex. If a business owner determines

Tax Avoidance vs. Evasion — What’s the Difference?

September 6, 2023

Supreme Court Justice Oliver Wendell Holmes, Jr. is credited with saying, “taxes are the price we pay for civilized society.” No one must pay more in taxes than necessary under

Cancellation of Debt: What Do You Mean I Have to Pay Tax on That?

August 30, 2023

If you had debt that was reduced or canceled not through bankruptcy or insolvency, that reduction may be taxable. Even though there are no actual cash proceeds, cancellation or discharge

IRS, Tax

What is a Doubt as to Liability Offer in Compromise?

August 16, 2023

An Offer in Compromise is an agreement made between the taxpayer and the Internal Revenue Service (IRS) that settles a tax debt for an amount less than the amount of

Business of Law

Answering Contract FAQs With Joshua D. Brinen

August 9, 2023

What is a representation in a contract? A representation in a contract is a representation or fact that the seller or buyer promises is true, and is an inducement for

Federal Taxes are Only Half the Battle

August 2, 2023

An audit by the Internal Revenue Service (IRS) can be a long and cumbersome process — but the Internal Revenue Service audit is only half the battle. Following a federal

Form Documents, Securities

What are the Benefits of Filing a Form 8-K?

July 26, 2023

Under the Securities Act of 1934, an issuer – a company that is publically traded – must make certain reports to the Securities and Exchange Commission (“SEC”) on a periodic

Penalties Imposed by the IRS — What Are Your Options?

July 19, 2023

The Internal Revenue Service (IRS) imposes penalties on taxpayers who are not compliant with their tax or information filings. Penalties can be imposed for several reasons, including failure to file

Litigation, Tax

What is a Collection Due Process (CDP) Hearing?

July 12, 2023

If you have outstanding debt, the IRS may pursue a collection action. A Collection Due Process Hearing — commonly referred to as a “CDP” — is typically a taxpayer’s last

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