Be Wary of Tax Problems in Difficult Times

Be Wary of Tax Problems in Difficult Times

During difficult times, everything can become a stress point. This includes federal income taxes and obligations to comply with them. Domina Law Group pc llo does not specialize in federal income taxation. We do not provide tax opinions, or offer tax planning advice.

We do participate in tax litigation. Domina Law Group pc llo’s history of tax compliance is varied Terry A. White of Domina Law Group pc llo’s practiced law in the District of Columbia with a former Commissioner of Internal Revenue and has extensive experience at white collar criminal, and particularly tax, defense.

Rev Proc 2009-25 – IRS Opinions

The Internal Revenue Service promulgated a new revenue procedure, known as Rev Proc 2009-29, to deal with the current troubled times. This procedure permits taxpayers to submit ruling requests involving one or more issues involving the tax consequences or characterization of the transaction (or part of the transaction) that occurs in the context of a distribution under § 355 of the Internal Revenue Code without requiring a request on the entire transaction.

The new revenue procedure reduces the previous burden on the taxpayer by permitting submission of representations and summary information in lieu of detailed data concerning the totality of the transaction. This revenue procedure amends Rev Proc 2009-1 and 2009-3. The new revenue procedure will be published in the Internal Revenue Bulletin on June 15, 2009.

Domina Law Group pc llo is a firm of trial lawyers. We specialize in complex litigation on a national basis. Our lawyers are ethical, aggressive, and committed to providing spirit and vitality to the judicial system and our client’s legal rights.

Categories: