Santos v. Commissioner, TC Summ. Op. 2011-108 (September 12, 2011)
Facts:
Ada Santos lived in Utah with her 30-year-old disabled adult son, Walter. Ada paid the mortgage, as well as the property tax
Ham v. Commissioner, TC Summ. Op. 2012-3 (January 5, 2012)
Facts
Like many taxpayers, George Ham invested some of his excess cash in mutual funds; specifically he invested his money with Janus Capit
Among the complicated matters that every paid tax preparer is certain to encounter each year are controversies about claiming children as dependency exemptions. Divorce decrees often fail to acknowled
Over the next several years, tax preparer work will entail reporting extra income for individuals who claimed the First Time Homebuyer Credit in 2008. The IRS is supposed to send reminder notices to t
The difficulty level of the registered tax return preparer examination is not too much of a burden, but what happens after passing it could bring significant challenges to a tax professional. With suf
Looking in advance at IRS cost-of-living increases for 2012 presents interesting tax planning considerations. It doesn’t affect 2011 tax returns. However, some individuals are likely to ask tax prep
The IRS is increasing its oversight over claims for the Earned Income Tax Credit (EITC) and is demanding help from paid tax preparers. The EITC is a refundable credit, meaning that it’s payable to a
Most individuals assume that scholarships, grants, and fellowships for students in higher education are free of income tax consequences. Unfortunately, that is not always correct. Seeking the advice o
Businesses providing health insurance coverage to employees may qualify for a valuable tax credit. Calculation of the credit amount is a complex matter that is best handled by someone with registered
Individuals with investment income normally have plenty of items to identify for separate tax treatment. In addition to deciding the correct tax reporting for each income type, taxpayers must verify t
