Why Americans want a Buffett Tax Robert Wood San Francisco California

Why Americans want a Buffett Tax Robert Wood San Francisco California from Sequence Media on Vimeo.

Forget travel if you owe the IRS!

Forget travel if you owe the IRS Tax Lawyer Robert Wood from Sequence Media on Vimeo.

A tax law quietly proposed a few months ago—Owe IRS Taxes, Lose Your Passport—is quietly gaining momentum. Now more people have noticed. If you owe the IRS? You’renot going anywhere if this law passes. In America, we love to tinker with our tax laws. Congress is always introducing one bill or another to tweak an already bloated and increasingly dysfunctional tax system. A tax law quietly proposed a few months ago—Owe IRS Taxes, Lose Your Passport—is quietly gaining momentum. Now more people have noticed. If you owe the IRS? You’renot going anywhere if this law passes. In America, we love to tinker with our tax laws. Congress is always introducing one bill or another to tweak an already bloated and increasingly dysfunctional tax system.

Beware sharp increase in IRS audit rates Tax Lawyer Robert Wood San Francisco California

Beware sharp increase in IRS audit rates Tax Lawyer Robert Wood San Francisco California from Sequence Media on Vimeo.

The IRS has released its 2011 IRS Data Book showing an unprecedented 62.8% spike in audit rates on the wealthiest taxpayers. These audits top out an all-time high of 30%. The IRS has long been criticized for putting too many resources into auditing taxpayers with comparatively simple issues and relatively few dollars at stake. High income persons not only have more dollars on the table but tend to have tougher and more nuanced tax issues. That can make audits more revenue productive.

Robert W. Wood, Wood LLP San Francisco California

Can Failing to Issue 1099 Preclude Settlement Deduction?

Can Failing to Issue 1099 Preclude Settlement Deduction? from Sequence Media on Vimeo.

woodllp.com/Publications/Articles/pdf/Can_Failing.pdf
It’s no secret that information matching has become an increasingly important part of tax administration and enforcement. In many contexts, including the settlement of litigation, the need to determine whether Forms 1099 will be issued and if so, how and to whom, can loom large. San Francisco Tax Lawyer Robert Wood examines the commonly held view that a payer that fails to issue a Form 1099 can claim no deduction.

Lawyer's "International Consulting" A Hobby, Says Tax Court

The Tax Lawyer Robert Wood talks about his article in Forbes titled "Lawyer's 'International Consulting' A Hobby, Says Tax Court."

Robert W. Wood practices law with Wood LLP, in San Francisco.  The author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th Ed. 2009 with 2012 Supplement, Tax Institute), he can be reached at Wood@WoodLLP.com.  This discussion is not intended as legal advice, and cannot be relied upon for any purpose without the services of a qualified professional.

The Tax Lawyer Robert Wood talks about his article in Forbes titled "Lawyer's 'International Consulting' A Hobby, Says Tax Court."
Robert W. Wood practices law with Wood LLP, in San Francisco.  The author of more than 30 books, including Taxation of Damage Awards & Settlement Payments (4th Ed. 2009 with 2012 Supplement, Tax Institute), he can be reached at Wood@WoodLLP.com.  This discussion is not intended as legal advice, and cannot be relied upon for any purpose without the services of a qualified professional.