Archive for December, 2009

Tax law or litigation?

Thursday, December 31st, 2009

Which is more lucrative? Which is "better"? I’m just looking for any information really.

They are both insane and neither one is better than the other. All tax laws except sales tax should be banned and sueing somebody, I think, is morally wrong. Think about what the government is taking from you when they pass a tax law and what ipmact it has on you. Anyone who sues is just someone who has had an attitude problem and have nothing better to do.
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Are IRS Audits public information if it is for an individual tax payer?

Thursday, December 31st, 2009

are audits public information if the audit was performed on an individual tax payer? If the individual tax payer owns their own business but has no federal EIN # does that make a difference?

26 USC section 6110 makes it a crime for the IRS to disclose confidential matters about an individual. They do have the right to gather third party information, but results of audits are completely confidential on the IRS part unless a) the audit is of a public company that has to disclose the material on its financial statement, in which case it’s the corporation making the disclosure, b) the audit becomes a tax court case, in which case it is a matter of public record (http://www.ustaxcourt.gov) or c) the IRS files a notice of federal tax lien with the county recorder or serves a levy on someone that owes the audited person money. That’s it. In the typical audit, the only people who learn of it are the ones the taxpayer tells.

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Dupage County Estate Planning Attorney| Dupage Business Lawyer| Denice Gierach

Thursday, December 31st, 2009

Based in Naperville and servicing Chicago and northern Illinois, the Gierach Law Firm has helped hundreds of clients with their business and personal legal matters, from business formation and tax planning to commercial real estate to business succession planning and estate planning.

We are a boutique law firm with a highly specialized practice geared toward businesses and business people. We receive many referrals from past and present clients, as well as other lawyers because of our experience, knowledge, and personal service.

Our Experience and Knowledge
We have been assisting clients for over 30 years. Attorney Denice A. Gierach earned her J.D. at the IIT/Chicago Kent College of Law and has practiced before the Seventh Circuit Court of Appeals, the U.S. Tax Court, U.S. District Court for the Northern District of Illinois, as well as in Illinois state court. Many of you may know her from her monthly newspaper column in the Naperville Sun or Aurora Beacon discussing aspects of business, tax, and estate planning law.

An experienced negotiator and business litigator, Ms. Gierach is also a Certified Public Accountant (CPA) and has a Masters Degree in Management from Illinois’ prestigious Kellogg School of Management at Northwestern University.

Our business clients appreciate the fact that Ms. Gierach understands accounting principles, financial statements, and tax implications, and she knows how to present these issues to a judge or jury in the event of a dispute. It was in this appreciation that the Business Ledger, a newspaper dedicated to the Chicago area, named Denice Gierach one of the “Influential Women in Business” for 2008.

In addition, many clients rely upon Ms. Gierach’s experience and knowledge to counsel them in preventative law, i.e., how to avoid costly litigation. They also appreciate her ability to see the big picture and the client’s bottom line when advising and representing them in business disputes.

Our Personal Client Services
We attribute much of our success to our understanding that we are in a service industry. We take the time to listen to you, understand your business or legal situation, and your concerns. Then we analyze the legal matters and issues and provide you with options, as well as an explanation of the benefits and detriments of each option at a personal and business level.

You also will appreciate our proactive communications regarding any business dispute or new laws that may affect you or your business. If you are involved in a business litigation matter, we will keep you informed of any changes to the status of your case or any settlement offers.

In addition, when you retain our firm, you will get the services of our founding partner, Denice Gierach—an attorney with over 30 years of experience, who also has a CPA and a Master’s in Management—as opposed to an inexperienced associate. Because in business matters or business litigation, as in life, experience matters.

Contact the Gierach Law Firm
To retain the services of one of Illinois’ most respected and well known attorneys, or to discuss your legal matter with an experienced professional who will take the time to understand your concerns and offer you practical advice, please schedule a confidential consultation by calling us at (630) 756-1160, e-mailing us, or filling out our intake form.

Visit our website at: http://www.gierachlawfirm.com

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DioGuardi Tax: “The TaxMan Is Watching”

Thursday, December 31st, 2009

What Canadians need to know and fear about the Canada Revenue Agency

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Surviving an IRS Tax Audit : IRS Audit: Items Not Needed

Thursday, December 31st, 2009

Don’t bring in all receipts and documentation to an IRS audit. Learn what to do if the IRS audits your taxes in this free personal finance video from an experienced accountant.

Expert: Edie Thomas
Contact: www.cmccpas.com
Bio: Diana Crawford is a CPA with more than 20 years of public accounting experience. She is a graduate of Georgia State University with a bachelor’s degree in accounting.
Filmmaker: Edie Thomas

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PATRIOT #167 US PATRIOT ACT

Thursday, December 31st, 2009

US,Patriot, UNITING AND STRENGTHENING AMERICA BY PROVIDING APPROPRIATE TOOLS REQUIRED TO INTERCEPT AND OBSTRUCT TERRORISM.
U = UNITING AND
S = STRENGTHENING AMERICA
P = PROVIDING
A = APPROPRIATE
T = TOOLS
R = REQUIRED TO
I = INTERCEPT AND
O = OBSTRUCT
T = TERRORISM
fraud and abuse),” before “1032”; and (D) by inserting “any felony violation of the Foreign Agents Registration Act of 1938,” before “or any felony violation of the Foreign Corrupt Practices Act”. SEC. 316. ANTI-TERRORIST FORFEITURE PROTECTION. (a) Right to Contest.–An owner of property that is confiscated under any provision of law relating to the confiscation of assets of suspected international terrorists, may contest that confiscation by filing a claim in the manner set forth in the Federal Rules of Civil Procedure (Supplemental Rules for Certain Admiralty and Maritime Claims), and asserting as an affirmative defense that– (1) the property is not subject to confiscation under

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IRS Audits of Tax-Exempt Organizations: Policies, Practices, and Procedures

Thursday, December 31st, 2009

IRS Audits of Tax-Exempt Organizations: Policies, Practices, and Procedures

IRS Audits of Tax-Exempt Organizations: Policies, Practices, and Procedures

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Lange Law Offices, PLC advertisement

Tuesday, December 29th, 2009

Lange Law Offices, P.L.C.
Attorney James R Lange, J.D., M.A.
Serving the Communities of:
Chaska, MN; Chanhassen, MN; Carver, MN; Waconia, MN; Shakopee, MN; Eden Prairie, MN; Edina, MN; Minnetonka, MN; Mound, MN; Minnetrista, MN
Licensed to practice law in Minnesota and South Dakota
The idea that the best legal advice is found in the hallowed halls of mega law firms is countered by the existence of a network of highly qualified lawyers who have left these companies to work on a more personal basis. James Lange is one of these qualified, competent and experienced lawyers who work right in your neighborhood delivering legal assistance. Give him a call and you’ll immediately notice how easy it is to work with him and the wealth of experience he brings to your situation. You’ll also benefit from Jim’s ability to handle a multitude of details at the same time while processing your case.

Business Services include:
Business Transactions and General Real Estate; Entrepreneur Planning Services
Forming a business entity – Corporation, Limited Liability Company, S-Corp, finance, operations…
• Analysis of appropriate entity (corporation, LLC, LLP, Partnership, S Corporation, etc…)
• Analysis and tax planning and strategy and to answer any questions relating to entity selection and formation.
• Creating documents for legal formation, bylaws or rules of operation, minutes of the governing board.
• Application for state tax identification number, federal tax identification numbers, state unemployment insurance
application and subscription agreement.
• Shareholder Purchase and Control Agreement.
• Patent, Copyright and Trademark issues of creation, control and protection.
Litigation Services include:
Estate Planning — Wills, Trusts, Living Wills, Health Care Directives, Family Limited Partnerships…
Insurance Coverage Litigation — Business Interruption Claims, Storm, Fire, Hail, Structure…
Personal Injury Litigation — Traffic, Construction Site or Workplace Accidents, Product Failures…
Civil Litigation — Lawsuits between two or more different people or organizations.
Tax services include:
IRS Tax & Audit Defense.
Past Debt Negotiation and Settlement with the Minnesota Dept. of Revenue.
Offers in Compromise — Agreements to pay portions of past due tax debt to settle the whole debt.
Preparing transactions involving transfer of ownership, such as:
Buying or selling a business.
Preparing complex tax returns.

James R. Lange
Phone: 952-368-9314
Cell: 612-382-6450
Fax: 952-368-9653
Email: jlangelaw@aol.com

Office: 112 5th Street East
(Across the street from the Chaska Bakery — enter new yellow brick building)
Suite 201, Chaska).

Planning Your Estate
A primary purpose of estate planning is to distribute your assets according to your wishes after your death. Successful estate planning transfers your assets to your beneficiaries quickly and usually with minimal tax consequences. The process of estate planning includes inventorying your assets and making a will and/or establishing a trust, often with an emphasis on minimizing taxes.
Adding up the value of your assets can be an eye-opening experience. By the time you account for your home, investments, retirement savings and life insurance policies you own, you may find your estate in the taxable category.
Take a fresh look at your estate plan if:
•The value of your assets changes significantly.
•You marry, divorce or remarry.
•You have a child.
•You move to a different state.
•The executor of your will or the administrator of your trust dies or becomes incapacitated, or your relationship with that person changes significantly.
•One of your heirs dies or has a permanent change in health.
•The laws affecting your estate change.
Health Care Directives
In Minnesota the generally known concept of a “Living Will” is defined by statute as a Health Care Directive. The Health Care Directive is an integral component of any estate plan and is utilized primarily to give direction to the doctor or other care-giver providing treatment in the final stages of life; however it can also be used to ease the transition of your estate to your beneficiaries.

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DioGuardi Tax Blog on UBS and Swiss Secrecy

Tuesday, December 29th, 2009

Is the secret Swiss bank account dead? Tax lawyer Philippe DioGuardi discusses Switzerland’s decision to release the names of UBS Swiss bank account holders to the US and Canadian tax authorities.

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How To Bluff Your Way Through an IRS Audit

Tuesday, December 29th, 2009

So your creative accounting has finally caught up with you. Now you’re going to really have to use your noodle if you’re going to survive the audit.

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