brand150

Tax Article Archives

Read about some of John’s more memorable experiences navigating the conflicting sections of the Internal Revenue Code.

View articles

mountain

Receive Immediate Attention

Directly Contact John via his contact form or call 720.234.1177

Read more

John Head Shot

Ask a Question

Ask John a question and get a written response.

Ask a Question

Tax Articles

What is an ITIN? T.D. 8671, 1996-1 C.B.314

In 1996, the U.S. Treasury Department issued T.D. 8671, 1996-1 C.B.314 introducing the ITIN – Individual Taxpayer Identification Number – requiring people foreign to the USA to use a unique identification number on their United States federal income tax returns. These regulations were intended to address concerns by the IRS and elected officials that without a unique…

Details

Why to Revoke An S Election and How to Do It – Internal Revenue Code Section 1362(d); Reg § 1.1362­6(a)

Many entrepreneurs get caught up in selecting the “most appropriate business structure” – particularly people planning to conquer the moon right out of the gate. If this is you beware as business structure is a determination that is best driven out of operational efficacy. Why? Most all new businesses fail, it is a fact of life. Properly…

Details

Defining Small Employer with Regards to Offering Health Insurance

Many business owners of all sizes have been posting to this blog lately with concerns about offering minimum essential health insurance coverage for their employees. It is indeed a complex topic full of both pitfalls and opportunities. When you drill down into the nuances of what it really means to be a small employer in these regards it quite…

Details

Meal Expense – Navigating Between Internal Revenue Code Sections 162, 274, 132; IRS Technical Advice Memorandum 200030001; and, Churchill Downs v. Commissioner

As per usual I’m swimming in areas where the tax code is seemingly at odds. The latest matter across my desk regards meals and entertainment (M&E) expense. These are the two questions at hand: Specifically at what point does a meeting expense incurred under IRC section 162 to present a sales pitch to groups of prospective investors…

Details

Richard S. Leyh et ux. v. Commissioner – Contemporaneous Log Detailing Rental Property Activity Permissible in Defining Real Estate Professional for Income Tax Purposes

Richard S. Leyh et ux. v. Commissioner (T.C. Summ. Op. 2015-27) details a case in which a taxpayer could revise her contemporaneous log of daily rental property activity and qualify as a real estate professional for income tax reporting purposes. When the IRS audited the taxpayer’s 2010 return, the log totaled 632.5 hours spent in…

Details

Incorrectly Issued Health Insurance Marketplace Statement Relief – Form 1095A

I had a grEAt conversation with my friend Bob Kerr Friday. We talked about the Department of the Treasury expanding the relief it announced previously on February 24, which will mitigate any harm to tax filers in regards to filing Form 1095A under the Affordable Care Act. Basically, if you enrolled in Marketplace coverage, received…

Details