Category Archives: Tax attorneys

Building Wealth through Real Estate: Financial and Tax Policies of the United States Government That Can Lead To Significant Wealth through Real Estate Ownership

Financial and tax policies of the United States government can help Americans achieve significant wealth through real estate ownership. These policies tend to favor taxpayers who, like the Trump family, are willing to commit to "the long game”, where the full benefits of real estate ownership accrue over decades and ...

The Bank of America Case: May Massachusetts Tax the Trust Fund Income of Non-Resident Families with Unborn and/or Unascertained Members?

Background  Before addressing the Bank of America case,[1] it is necessary to understand the Massachusetts taxation of trustees and their beneficiaries, which is described in 830 CMR 62.10.1: Income Tax on Estates and Trusts (the “Regulation”).  Massachusetts Jurisdiction to Tax Trusts When dealing with jurisdiction to tax, the Regulation distinguishes between testamentary trusts and inter vivos trusts, as follows:

4th Annual Tax Update at Bentley University, Wednesday, June 24, 2015

Invitation

You are cordially invited to attend our 4th Annual Tax Program at Bentley University. This Program is co-sponsored by the New England Chapter of the American Association of Attorney-CPAs, a national organization.

Preregistration Required

Preregistration to this free event is required. To register, please click here....

Preserving Massachusetts Appellate Tax Board Appeals Rights: Recent ATB Decision Highlights Three Traps for the Unwary

Phillips v. Commissioner of Revenue (ATB 2015-113 published on March 20, 2015) highlights three traps for the unwary that can hurt Massachusetts taxpayers. For example, it may be a trap to follow the appeals procedures set forth in Massachusetts Department of Revenue (“MDOR”) letters to taxpayers. In Phillips, taxpayers followed these procedures. The Massachusetts Appellate Tax Board (“ATB”)[1] nonetheless dismissed the taxpayers’ appeal for lack of jurisdiction. The ATB decision in Phillips is summarized and discussed below. The full text is available for download on the ATB website.[2]

Filing a Timely Appellate Tax Board Appeal: Recent ATB Decision Highlights a Trap for the Unwary

Prompt appeal of an adverse tax audit result to the Massachusetts Appellate Tax Board (“ATB”) is essential in order to preserve your rights as a taxpayer. The ATB has jurisdiction to hear state tax appeals pursuant to Massachusetts General Laws, Chapter 62C, Section 39. You must appeal within sixty (60) days after the Massachusetts Department of Revenue (“DOR”) has denied your abatement application. The ATB does not have jurisdiction and cannot preside over a late-filed appeal. Therefore, taxpayers and tax professionals need to understand when the sixty-day appeal window opens and closes.

Practice Tips for New Tax Associates

We are tax law specialists with a focus on international and Massachusetts taxation. I have drafted this memorandum to help new tax associates understand what is expected of them. This memorandum covers tips on drafting effective tax documents; complying with tax ethics; and dealing with unanticipated tax issues. Disclaimer This ...