tax audits

Tax Issues for Art Collections

Posted on: July 21st, 2016
Artwork and collections left behind in one’s estate will be subject to probate unless the decedent prepared a trust or other planning tool to hold and manage the art during their lifetime. Regardless whether the art is considered a probate asset, in the case of an estate that is subject to federal or state estate tax, art is a unique asset that poses several potential tax problems. The IRS may carry out an art valuation audit under certain circumstances....

Tax Concerns for New Domicile

Posted on: May 23rd, 2015
Living in one state while claiming domicile in another could offer many benefits depending on the jurisdictions. Tax benefits are generally a prime factor when an individual considers claiming domicile outside their resident state....

What to do if you receive an IRS Notice

Posted on: June 5th, 2009
Here’s the text of IRS Tax Tip 2009-72, but don’t forget, you can always contact a tax lawyer, CPA or enrolled agent for assistance and representation before the IRS:...
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