Taxing, Briefly
Taxing, Briefly

The IRS Collection Process – Taxing, Briefly

The Basic Principles of the IRS Collection Process In our previous post, we discussed how audits are performed and your available options throughout the examination process.  Once the audit is complete, and all administrative and legal remedies are exhausted, how does the IRS actually collect taxes?  The first step in the IRS collection process is assessment. The IRS cannot collect a tax until it has assessed it. There are a bevy of rules surrounding assessments. 

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Scott St. Amand May 25, 2021
Taxing, Briefly
Taxing, Briefly

The IRS Examination Process – Taxing, Briefly

Like Ten Thousand Spoons When All You Need is a Knife Do you feel like you are cursed to forever draw the short straw in life? Is Alanis Morrisette’s Ironic more of a personal anthem than an indictment of the Canadian educational system’s failure to properly differentiate between irony and unfortunate occurrences?  What does this have to do with the IRS examination process?  All in good time… In this post, we will assume that, in addition

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Scott St. Amand May 25, 2021
Taxing, Briefly
Taxing, Briefly

Taxing Social Media Influencers – Taxing, Briefly

Harsh Truths Taxing social media influencers? Way harsh, we know. Influencers have it tough anyhow, what with having to photograph everything they eat, or wear, or sneeze on.  Nevertheless, your fearless editors at Briefly Taxing thought it prudent to discuss some harsh truths about getting your money for nothing (and your “gifts” for free)—just in case you were thinking about getting into the social media influencing gambit. In this post, we won’t cast aspersions against

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Scott St. Amand May 21, 2021
Taxing, Briefly
Taxing, Briefly

Taxation of Cryptocurrency, a Primer – Taxing, Briefly

In the 36 years I have been on this mortal plane, I can’t remember ever thinking I was, as the kids say (or said in the 1990s) hip.  In full candor, the only time your fearless editor uses the word is when I explain to my sprightly wife that my hip hurts because it’s going to rain, and I’ve been sitting on the lawn chair on my porch too long, yelling at the whippersnappers to

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Scott St. Amand May 20, 2021
Taxing, Briefly
Taxing, Briefly

The 2021 Child Tax Credit – Taxing, Briefly

I’m not saying that you had kids for the tax breaks, but no one at Briefly Taxing would judge you if this consideration didn’t play a small role in the decision to bring your dependents (children, rather) into the world.  With that having been said, let’s talk about the 2021 child tax credit. Congress Had Kids, Too (Apparently) Like a groundhog seeing its shadow in February, at some point in 1997, Congress chanced upon its

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Scott St. Amand May 18, 2021
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Redefining Your Financial Outlook for Greater Life Success
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Redefining Your Financial Outlook for Greater Life Success Guest Writer:  Michael Longsdon of ElderFreedom.net* It’s a powerful realization that our financial success is deeply intertwined with our money mindset. This article will guide you through the steps to rewire your perception of money and to redefine your financial outlook, opening

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Scott St. Amand November 28, 2023

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Guest Writer:  Michael Longsdon of ElderFreedom.net* As an entrepreneur, managing the finances of your business can be a daunting task, which is why this Guide to Managing Business Finances for Entrepreneurs was created. It is not uncommon to feel overwhelmed, especially if you lack experience in finance. However, good financial

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Scott St. Amand June 26, 2023

Norberg v. Commissioner
T.C. Memo. 2022-30

On April 5, 2022, the Tax Court issued a Memorandum Opinion in the case of Norberg v. Commissioner (T.C. Memo. 2022-30). The primary issue presented in Norberg v. Commissioner was whether the settlement officer abused its discretion in upholding a notice of intent to levy and denying the petitioners’ request

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Scott St. Amand January 24, 2023

Salter v. Commissioner
T.C. Memo. 2022-29

On April 5, 2022, the Tax Court issued a Memorandum Opinion in the case of Salter v. Commissioner (T.C. Memo. 2022-29). The primary issues presented in Salter v. Commissioner were (i) whether the Code section providing exception from imposition of additional tax resulting from early distribution from retirement plan applied;

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Scott St. Amand November 23, 2022