Category Archives: Uncategorized

A.     Introduction Although LLCs and partnerships possess attractive tax attributes, the fact remains that in 2004, 48.1 percent more returns were filed by S corporations than were filed by entities taxed as partnerships. An S corporation is a domestic small … Continue reading →

Senators McCain and Obama offer starkly differing tax philosophies. Mr. Obama favors a middle-class tax cut but not “a permanent tax cut for Americans who don’t need them.” Citing the inequity of  hedge fund managers who pay less tax than … Continue reading →

Reversing the Court of Federal Claims, the Supreme Court held that the Claims Court was without jurisdiction to hear the taxpayer’s refund claim since the taxpayer had not complied with refund procedures articulated in the Internal Revenue Code. U.S. v. … Continue reading →

Steven T. Miller, Commissioner of the IRS Tax Exempt and Government Entities Division, stated that the IRS will ensure that charities are furthering a charitable purpose in a manner commensurate with their financial resources. Public charities, unlike private foundations, are … Continue reading →

IRS Commissioner Douglas Shulman announced at the National Press Club on April 13 that the IRS wants to provide “tangible relief to taxpayers in distress while also helping others from straying across the line into non-compliance.  Mr. Shulman stated that … Continue reading →