Effective January 1, 2016, a seriously delinquent tax debt may result in the loss of your U.S. passport. If you have unfiled tax returns or if you owe more than $50,000 to the Internal Revenue Service (“IRS”), the State Department can now revoke your passport. In addition, the State Department […]
Taxation Blog
Related Practice: Taxation
It’s Already November – Have You Considered Your Year-End Charitable Strategy?
November 17, 2015 | by Gary BotwinickIt seems lately that as soon as Halloween ends, the holiday season begins and we all look forward to the end of the past year and the beginning of a new, and hopefully, wonderful exciting one. The air grows colder, the leaves are gone, and the days seem so short. […]
Do I have to pay taxes on money I receive in settling my claim? Is any of the settlement non-taxable? Plaintiffs frequently asked these questions when settling a personal injury, contract or employment case. Unfortunately, these questions are asked at the time the plaintiff is asked to sign the settlement […]
Lost among all of the talk about Federal estate tax repeal, is one of the greatest opportunities that Congress has given to many of my clients in years — the uncapped Roth IRA conversion opportunity. Until 2010, a Traditional IRA could only be converted to a Roth IRA by a […]