Article by Roni Deutch The Internal Revenue Service (IRS) has implemented procedures for taxpayers to request a reimbursement of the fees charged by a bank against a taxpayer for processing a bank levy when the bank levy was issued erroneously by the IRS. Reimbursements are limited to $ 1,000.00 and must be claimed within one … Read more
For investors interested in real estate, there may be no better and worthwhile tool than the 1031 exchange. In short, it is a process through which capital gains tax liability can be completely deferred. Enabling otherwise lost funds to be used for investment. It can be, however, a complex process, requiring due diligence … Read more
A 1031 exchange is a tactic used by real estate investors to indefinitely defer tax liability on a property’s sale. This is achieved by giving the rights to a property one would like to sell to an intermediary, who holds on to the funds gained from the sale of the relinquished property and uses them … Read more
HISTORICALLY, Americans have never had a great affection for being taxed. The great author and political commentator Mark Twain, once stated that the difference between a tax collector and a taxidermist is that a taxidermist only takes your skin. Thus, it usually sparks great interest whenever the Internal Revenue Service may appear willing to allow … Read more