7 Biggest IRS Audits & Tax Court Cases You Need to Know About
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- Опубликовано: 21 июл 2024
- I have the BIGGEST IRS Audits & Tax Court Cases you need to hear about. Because there are some grey areas in tax law that DO NOT explicitly state, how to take some tax deductions. Especially for business owners. In this video, I will cover some court cases & tax laws, that can help you can avoid some painful mistakes.
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Timestamps
Why This is Important (0:00)
IRS Tax Court Case #1 (2:04)
IRS Tax Court Case #2 (6:00)
IRS Tax Court Case #3 (7:35)
IRS Tax Court Case #4 (9:50)
IRS Tax Court Case #5 (11:30)
IRS Tax Court Case #6 (13:48)
IRS Tax Court Case #7 (15:22)
VERY IMPORTANT TO REMEMBER (17:13)
One important IRS tax court case involves a CPA, a certified public accountant, who got an IRS AUDIT for misusing the Vehicle Tax Deduction
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Hey, I'm Sean with lyfe accounting. The accounting company that helps you save on taxes and build more wealth. Please be sure to give this video a like and subscribe to our channel so you don't miss out on future videos!
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Disclaimer: The information provided in this video is for informational purposes only and is not meant to take the place of professional legal, accounting, or financial advice. If you have any legal questions about this video or the subjects discussed, or any other legal matter, you should consult with an attorney or tax professional in your jurisdiction (i.e. where you live).
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Suggested video to watch next, IRS Receipt Requirements: ruclips.net/video/R7BNZPCz310/видео.html
fantastic stuff. perhaps a vid on non-pro-rata v pro rata disbersments in LLC Operating Agreements with por rata disbersements, per early 2022 cases in Alabama and Utah DO NOT protect LLC members from being gutted when facing a Charge Order
I’m an enrolled agent and am always glad to hear of tax cases so I won’t get lazy in requiring documentation from my clients. Thank you!
That’s so great to hear from an EA, thanks, Teresa!
Truly awesome video. I find very helpful this information, thanks and keep then coming!
Great video
Great video, please continue with them! The court cases provide the necessary details and the "why" in their final decisions.
Good to know, thanks for commenting, Delores!
Awesome video! Would love to see more taxes case review type content!
So helpful! Would love more.
This is valuableeeee information! Thank you tremendously!
Love these!
thanks for the information, very informative would to see more videos like it
Appreciating your comment, very helpful
Your vidios are very informative and helpful. Please keep doing them.
Great video! I loved this! I hope to see more!
great video!!!!
Very helpful, thank you so much!
Thanks for commenting to let me know, great to hear feedback!
Love your content and your approach. Definitely a loyal subscriber here.
Yes please do more tax court case reviews
Great stuff, Sean!
Much appreciated!
As a paralegal who struggles with taxes & business expenses, THIS MADE SENSE TO ME! And it was more interesting. Please do more like this.
I'm glad you found it enjoyable, Kristin! I put alot of effort into it. Please share with any of your other legal colleagues!
I enjoyed this video.
Great information!
Love the new contents! Would like to use your tax services…
This is very helpful, so yes I would like to see more videos like this. Thank you.
More to come!
Glad to hear tax court cases, they give great detail in what the IRS is looking for in audits.
Yes keep these coming
I think this was quite useful. Thank you!
Thanks for watching and sharing your feedback with me, Sharon!
awesome bvideo more tax cases please !
Great video! Thankyou 👍
Thanks Dan!
this is dope!
Please do more like this
Yes do more!
Can you make a video on accountable plan for a S Corp
Yes more of this
Hi Sean, great chanel man, thanks for all the great info. I started filing my real estate company taxes in 2021. It was them a sole proprietorship. I made new business deductions last year. This year I made it an LLC. Can I still make new business write offs? Thanks.
Unless things have changed in the last decade, it might be worth mentioning that the Tax Court is not bound by precedent decisions (decisions made before your case), though they are definitely worth mentioning in an appeal.
Enjoyy hearing how folks try to massage their tax reasons to get that deduction.
Hell yeah more tax LAW cases!!!! 🧠
Roger that!! Thanks, Toney!
I find it hard to find videos specific to Travel Agents/Travel Advisors that operate under a host agency and how they should properly manage taxes for office, travel, marketing. If you could dedicate some information solely for agents that would be amazing 🤩
When I was an IRS R/O. I had a taxpayer who was audite through correspondence. I was an Auditor before being an R?O. What I told him was that
the reason why he was audited was that the "freebies' he got from the resort for vacation, free hotels,etc. whether or not he got the benefit or not or gave the benefit to his employees, he still must declare the $ equivalent and report it as income. So I gave him the benefit of the doubt and sis an audit recon. The time came that the IRS sent a R/A from district office to our post of duty. I heard my taxpayer started yelling at the agent. My boss said since I transferred the case to audit, that I must intervene. I told the boss was the taxpayer is complaining about the command of English of the R/A. She was Vietnamese and I came from the neighboring country, the Philippines. I told my boss, that the R/A never called me and discussed the case with me; That's bull for the examiner and further said that, we collection people at least would have the courtesy of a phone call. The taxpayer eventually lost but I don't think the taxpayer wanted me to collect.
I work remotely for my company cause they don’t have an office for me. I also have a side content creation business. How should I deduct my home office?
There is still the Cohan rule. I have a client who is a registered nurse. I made a mistake on applying the wrong tax code I should have used the visiting nurse code. In addition to 5 W-2's in as a Nurse, she had 2 1099 MISC ( in 2018 was used for a NEC.. She claimed mileage based estimate amount. When she was audited last year, we used the records of the Nursing outfit that hired them as visiting nurse. We estimated from her home to the patient home; each patient have different distance wich my client drove. We redacted their last names and house numbers. We submitted these 3rd party documents to reconstruct the data. The Auditor in Philadelphia sent us a letter saying in a "canned" sentence: Because you did not prove that these (car & truck) expenses are not ordinary and necessary, we disallowed the expenses" The usual "allowed" column is "0". Under IRC 7491, the burden of proof shifts to the IRS that a car should not be used to go to her patients ( No car was provided by the Nursing facility). We have evidence that my client perform the Nursing services at the home. She has reached in her W-2 the maximum of SSA tax. She is a nurse and not an accountant. As we speak, we are waiting our turn at Tax Court. We received our Docket #. Please look at the Regs for documentation 1.274. She was an independent contractor and the IRS did not follow the 7491. The expenses were not lavish and extravagant.
i love videos like this. I heard about a case in which the IRS was allowed to get at a persons assets in an LLC, is there truth to that?
If the individual is regarded as a disregarded entity.
@@pkicng210 That seems straightforward enough right, but the case Im thinking of went all the way to the florida supreme court. The guy was living in florida making a living as a scammer. The feds showed up and tried to get his assets but couldn't do so initially. They had to take it to the florida supreme court. The scammers last name started with an "O" and i forgot what book i read that in and im not sure how to look that up. I guess what im trying to ask is why would the federal government need to take a case like this all the way to the florida supreme court to make that ruling when?
Good day, since last week Thursday I've been trying to have my books done by your firm. But I am not getting any response
Home office deduction question. I own a construction business but I do all my quote writing and house building materials at my residence. My work is obviously outside of the home and at multiple locations and I don't have a free standing location as my business store front. Wouldn't I be allowed to write off a portion of my home as a home office
Yes, have an Accountable Plan.
Yes more real tax law cases!
What daes mean.fed tax withholding H?
Please
I love tax court cases !!!
In an LLC....ONE MUST pay oneself a reasonable amount,and pay as a W-2 employee...on that amount,THEN SAVE THE FICA ON THE remainder...BUT you wont save state or fed income tax,only FICA...BUT..you will draw less social security SOMEDAY...TAKING the excess,INCOME ABOVE the W-2 mentioned here, as a dividend ,going S corporation on TAXATION ,BUT BEING AN LLC......IS a good way to go..but.if you go "S'' corp,not LLC ....sounds similar ..BUT YOU MUST...MUST BUY WORKERS COMP ON YOURSELF!!......this can be 14-15,000 a year if you are physically working in construction!
i am a roofing contractor and only claim a daily logged 15-17,000 miles!Wow,, that CPA got greedy and waffled 40,000 miles down to 8000 miles before his court date!!the court said EVEN 8000 MILES PER YEAR wouldnt fly! l wont even take business office on my house!..i never do ANY customer entertainment!,,,,no food on trips...l think MAYBE ...OFFICE USE OF THE HOME will need recaptured when you sell .....IM NOT SURE...
The pastor should have used a 990. Got a W-2,, got himself a witholding plus paying SSA and Medicare or W-2 income would be parsonage income- that has a special self employment tax income. too complicated to discuss here.
It should have a logo; "YSL" to be deductible.\ The reason why the IRS won on appeal the iRS like to pimp on the poor people. because what is the tax on 1,600 of deduction (portion 12:25). and probably could not afford an attorney for Court of Appeal.. That's a lot more that the tax generated. If I were the employee, I would have gone to Appeals and tell the Court. and tell the court to give him a pro bono. I bet the Court of Appeals just gave a summary judgement. If were the employee, I would give away the clothing and get a charitable deduction and get a high end valuation because it was YSL.
990s are not for individuals and churches don't have to file them because they are special. It sounds like it was more of the church's fault for not keeping track of W2 income for the pastor though.
@@mtigress4589 The "special" donations should come in as a UBI or just donation that flow through the pastor's pocket. This how churches can "skim" through the pastors pockets. I don't know why the pastor has a color for this particular donation. But you are correct. Most churches and their affiliates do NOT need to file their 990.
@@pkicng210 they use the different colored envelopes alot of times to try to treat it as parsonage or as a gift and make it untaxable but since we cant see the church's income it comes down to luck that the 1040 gets looked at with bank statements and then hopefully ET or TEGE referral.
@@mtigress4589 You got it. But this pastor had the gall to take the iRS to court and lost.
@@pkicng210 Yea. Some of the tax cases are hilarious. It's even funnier when there's more than one case with almost identical circumstances.
And suppoedly the IRS isn't full of criminals, lmfao.
Great video but……Don’t sax “ax” say “ask.”
It’s just an accent/dialect thing. He’s not saying it wrong