Posts by America’s Tax Attorney LLC.

By Nehemiah Jefferson, Esq., LL.M. Trusts have become an important part of many estate plans.   A trust is a legal document which creates an entity to hold property for the benefit of others.  Trusts come in all types of flavors such as irrevocable and revocable and can even be used for charitable and tax planning.  Of course,…

By Nehemiah Jefferson, Esq., LL.M. What is Probate? Probate is a court supervised process to determine where to distribute a decedent’s assets whether the decedent had a valid will (“testate”) or whether the decedent did not have a valid will (“intestate”).  Assets titled in a decedent’s name creates the estate. Probate can be a long…

By Nehemiah Jefferson, Esq., LL.M. The Corporate Transparency Act (“CTA”) is getting a lot of attention in the accounting, tax, financial planning and legal industry, and rightfully so. This article provides some basic information and required action about the CTA. What is the Corporate Transparency Act?  The CTA created a reporting requirement for certain companies…

By: Nehemiah Jefferson, Esq., LL.M. An estate is created when a person dies. The estate includes everything that the individual owned at death.  In 2024, it seems like there is a tax for everything. There are income taxes, property taxes, sales taxes, transfer taxes, gift taxes, inheritance taxes, capital gains taxes, and yes, even taxes…

By: Nehemiah Jefferson, Esq., LL.M. Certainly, it cannot be assumed that we would always be available and able to care for our loved ones.  Therefore, estate planning for a loved one with special needs is necessary to ensure the continuing care if you are unable to do so. I had an aunt with down syndrome.…

To determine if an individual (or entity) is compliant with the tax laws, the IRS has broad powers to conduct examinations and investigations. According to Internal Revenue Code 7602(a)(1), the IRS may examine a number of sources (e.g. records or data) to determine the accuracy of a tax return or tax liability and for tax…

On a typical business day, a couple of IRS special agents (i.e. criminal investigations) showed up at a taxpayer’s house. You know you are in the presence of an IRS special agent if you see a badge and a gun. The taxpayer immediately begins to ask the reason for the IRS special agents’ visit. The…

Many taxpayers who receive an examination (“audit”) notice from the IRS often are concerned whether “they could go to jail.” Indeed, problems originate with the tax return as a result of errors or fraud. The courts have long since opined connecting the audit to criminal tax convictions. In a Ninth Circuit opinion case, United States…

The landscape of college football, basketball, and athletics in general has changed. As a result of a recent Supreme Court decision against the NCAA (NCAA vs. Alston) and subsequent NCAA rule changes, athletes are now able to make money on their Name, Image, and Likeness (“NIL”). This was long overdue. I recall my time as…

Don’t get it twisted! Taxpayers, you have a right to retain a representative to assist you in your IRS matters. The taxpayer bill of rights states “[t]axpayers have the right to retain an authorized representative of their choice to represent them in their dealings with the IRS. Taxpayers have the right to seek assistance from…