News - John R. Dundon II, Enrolled Agent
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News

If your minor child has been blessed with the opportunity to be endowed with income producing investments be wary as I have witnessed this can indeed become a curse for you on many levels. As if parenting isn't hard enough it seems to only be...

Dispensary owners now finally have some precedent to follow in arriving at federal taxable income. In Olive v. Comm'r, 139 T.C. No. 2 (8/2/12), Mr. Martin Olive the owner of an operation called the Vapor Room was required to prove among other things that he...

I am not a big fan of this deduction for a wide variety of reasons but mostly because there can be a substantial administrative burden associated with recapturing depreciation expense taken in previous tax years upon the sale of one's home in the current tax...

I've been engaged in a running dialog with extraordinary nuances as to whether a loosely organized group of people are or are not fully recognizing taxable revenue from engagement in barter transactions with each other. The nuances inside this topic ranged from record keeping (as...

People living in a federally declared disaster area are entitled to a wide variety of tax benefits. Around the Nation provides IRS news specific to local areas, primarily disaster relief or tax provisions that affect certain states. 2012 federally declared disaster areas issued by the department of Homeland...

The following are the notes from the most recent IRS Stakeholder Liaison Meeting held in Denver Colorado as prepared by IRS Senior Stakeholder Liaison Deborah Rodgers Michael Shuler,  Local Taxpayer Advocate Nina Olson, the National Taxpayer Advocate’s (NTA) objectives report was released in June, revealed some issues...

I opened another file today involving a taxpayer that got scammed by the person who prepared his 2011 tax return. In this scheme the promoter claimed the taxpayer could get a tax refund based on the American Opportunity Tax Credit even though she was not...

Ex parte communication is oral or written communication that takes place between any IRS Appeals employees such as Appeals Officers, Settlement Officers, Appeals Team Case Leaders, Appeals Tax Computation Specialists and employees of other IRS functions without the taxpayer's representative being given an opportunity to participate in the...