THE TAX ATTIC with Jerry Coon

The tax profession industry is regularly given updates of the areas that the Internal Revenue Service will emphasize in the near future. The IRS doesn’t keep these areas secret. Especially in compliance, they want all of us to know what they are going to be looking at in audits and the areas they are going […]

THE TAX ATTIC with Jerry Coon

New, changed forms Just to shake things up a bit for tax professionals, from time to time the Internal Revenue Service changes how a form will look or will even do something more sinister: they develop a new form. For 2011, they did both. First, they created a new Form 1099-K, Merchant Card and Third […]

THE TAX ATTIC with Jerry Coon

IRS, Congress crack down on assets in foreign institutions Over the past many years, we have seen a concerted effort by Congress and the Internal Revenue Service to force United States citizens to disclose whether they have financial assets in foreign countries. The basis for wanting to know this information is very straightforward: as tax-paying […]

The Tax Attic with Jerry Coon — December 30, 2010

Consider 10 items before 2011 Leave it to the Internal Revenue Service to assume the role of the “Grinch who stole Christmas” one more time. They announced last Thursday that due to late changes made by Congress, the IRS will require some extra time to revise their processing software. The extra time means that approximately […]

The Tax Attic with Jerry Coon

RAL a thing of the past   Recently, I wrote an article publicizing that the Internal Revenue Service, starting next January, is not going to provide something called the “debt indicator” to tax preparers and financial institutions. This is a big thing because the “debt indicator” is the one item that tax preparers and financial […]