Tax Articles

Accounting Methods for Cryptocurrency Trades & Sales

By Eric P. Rothenberg, Esq. – (Published Article)   The world of cryptocurrency transactions was changed dramatically at the end of 2017 when the Internal Revenue Code [“IRC”] was modified to remove all types of assets eligible for Tax Free Exchanges under IRC Section 1031 [also known as “1031 Transactions] EXCEPT for real estate. Prior […]

Cryptocurrency [Bitcoin] and the IRS

By Eric P. Rothenberg, Esq. – [Download PDF Article] The creation and use of cryptocurrency is very recent. Back in 2010, it just began trading. In 2011, it hit its first “bubble” at $31 per coin when previously they traded for just pennies. Most people by now have already heard it hit nearly $18,000 in […]

IRS Uses Private Collection Companies

By Eric P. Rothenberg, Esq. – The Internal Revenue Service [“IRS”] announced on April 5th , 2017 that they will begin to use private collection agencies to collect back taxes owed. Soon, the IRS will begin its process of sending letters to certain taxpayers that their past due federal tax accounts are being turned over […]

Are You Tax Return Prepared?

By Eric P. Rothenberg, Esq. – In order for you or your preparer to do a good job on your income tax returns, which in turn will reduce the risk of being audited, here are some notions you must keep in mind. The Internal Revenue Service requires individuals to gather the adequate documents that can […]

What Should You Do If You are Audited?

By Eric P. Rothenberg, Esq. – Some of you might get hit by what we in the tax law call the “AUDIT LOTTERY”. This is when you are selected for an audit. Due to extreme budget cuts by Congress for the IRS funding, the odds of being audited are as small as they have ever […]

American Tax Relief Giving Back $16 Million To Clients

By Eric P. Rothenberg, Esq. – August 15, 2014 – According to today’s Boston Globe, the Federal Trade Commission (FTC) was able to get a federal judge to close down a company taking advantage of taxpayers needing tax relief from their debts to the IRS and state revenue agencies. American Tax Relief is giving back […]

The Great Property (and Tax) Comeback

Attorney Eric Rothenberg was quoted in The Wall Street Journal recently in an article titled “The Great Property (and Tax) Comeback”.  We’ve provided an excerpt below and you may read the entire article here. March 28, 2014 Higher real-estate prices normally spell good news for sellers, but there’s an associated cost that many tend to […]

Partner Cannot Deduct Unreimbursed Expenses

By Eric P. Rothenberg, Esq. – The difficulty for a partner to deduct their own out-of-pocket expenses, not paid for by their partnership, was recently outlined well by the Fifth Circuit Court of Appeals in McLauchlan v. Commissioner of Internal Revenue [citation omitted and decided March 6, 2014].  These situations come up often with RE […]

IRS Phone Scam Targeting Taxpayers Throughout The Country

The Internal Revenue Service warned consumers about a sophisticated phone scam targeting taxpayers, including recent immigrants, throughout the country. Victims are told they owe money to the IRS and it must be paid promptly through a pre-loaded debit card or wire transfer. If the victim refuses to cooperate, they are then threatened with arrest, deportation […]

DOMA Affects Income Tax Returns

By Eric Rothenberg – With the Supreme Court’s ruling on June 26th, 2013, that the Defense of Marriage Act (“DOMA”) is unconstitutional, there will be major tax implications to the lesbian, gay, bi-sexual and transgender (“LGBT”) community. So a couple that previously were forced to file as “SINGLE” when they were legally married under a […]

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