Increased Tax Penalties Under the Trade Preferences Extension Act of 2015

Author: Betsy Glaeser, Senior Tax Associate On June 29th, President Obama signed into law the Trade Preferences Extension Act.  The Act garnered national attention concerning the foreign trade and globalization details contained within its pages, as well as deliberations regarding whether or not the President and Congress would be able to come to an agreement.  […]

Recovering Residential Real Estate: Coupling Gain Exclusions to Avoid Tax

Author: Betsy Glaeser | Tax Senior Associate Now that residential real estate markets are on the road to recovery, many principal residences once again have fair market values in excess of cost. If sold, some of these homes would trigger significant gains. Despite the upside of recovering markets and large home sale profits, many taxpayers […]

Final Net Investment Income Tax Regulations and Self-Rented Property

By Betsy Glaeser | Tax Senior Associate On November 26, 2013, the Internal Revenue Service released the much anticipated final regulations under Section 1411 of the Internal Revenue Code, which provide guidance on the general application of the Net Investment Income Tax (“NII Tax”) and the computation of Net Investment Income.  The newly issued final regulations […]

Member Guarantee Provides Code Sec. 465 At-Risk Basis

Author: Betsy Glaeser For partnership tax experts, general tax practitioners, and LLC members alike, the argument of whether or not an LLC member is at risk under Code Section 465 when the member guarantees debt has been a debate that has raged for many years.  On February 22, 2013, the widely-debated topic was laid to […]

Requesting Copies of Prior Year Tax Returns from the IRS

Have you ever misplaced a tax return?  It may not seem like a big deal until you try to provide data for a refinance of your home mortgage or try to fill out a financial aid form.  We often have clients ask how they can get prior year tax information from the IRS. Taxpayers needing information […]


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