Wealth Strategies Journal

Do More, Better, Faster

Tag: Tax

Tax Court Holds Taxpayer Not Entitled to Innocent Spouse Relief

In a summary opinion, the Tax Court found that a taxpayer was not entitled to innocent spouse relief.  The IRS allows a a spouse, who files a joint income tax return, to be relieved from joint and several tax liability when it would be inequitable to hold the taxpayer liable … Continue reading

OPR Warns Practitioners to Remove Circular 230 Disclaimers

The IRS Office of Professional Responsibility advised practitioners to stop using Circular 230 disclaimers.  The IRS finalized Circular 230 (T.D. 9668) replacing the covered opinion and establishing one standard for covered opinion rules.  The OPR warned that practitioners that include any disclaimers that state “The Internal Revenue Service says” or … Continue reading