Know Your Rights if the IRS Breaks the Rules
Glen Frost, managing partner of Frost & Associates, was quoted in an article featured in the USA Today speaking on taxpayers rights. Most individuals are aware of the severe consequences they may face if they break a tax law, even if it was done accidentally. However, most aren’t well versed in the rules that the […]
Maryland Field Enforcement Division
The Field Enforcement Division is part of the Comptroller of Maryland’s Office and is responsible for the enforcement of tax laws regarding alcohol, motor fuel, tobacco, business licenses, and sales. The Division includes the Motor Fuel Laboratory, the State License Bureau, and the Field Enforcement Bureau. The Motor Fuel Laboratory is responsible for testing gasoline […]
Tax Court: Economic Hardship Exception to Proposed Levy Only for Individuals
Mary Lundstedt, Esq In Lindsay Manor Nursing Home, Inc. v. Commissioner, 148 T.C. No. 9 (Mar. 23, 2017), where a corporate taxpayer sought release from a proposed levy because it would create an economic hardship, the Tax Court concluded that limiting economic hardship relief to individuals is a permissible interpretation of the statute. Taxpayer, a […]
President Trump filed for an extension on his 2016 tax return
A White House spokesperson has confirmed that President Donald Trump filed for an extension on his 2016 tax return. The president has refused requests to release his previous returns and has made conflicting statements in regards to whether or not he ever intends to release them. During one interview, he stated that he had no […]
New FBAR Filing Date and Extension
U.S. taxpayers with more than $10,000 in a foreign financial account at any time during the calendar year are required to report foreign financial interests on Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Financial Accounts (FBAR). Since the financial crisis in 2008, the government has increased its attention to overseas […]
Frost & Associates, LLC wins What’s Up? Magazines Best Of Contest
June 1, 2017 – Washington, D.C based law firm Frost & Associates, LLC has won What’s Up? Magazine’s Best of Eastern Shore, West County and Annapolis for the 2017 Reader’s Poll for ‘Best Tax Attorney’. The firm focuses their practice on estate planning and administration, tax planning, business law, tax controversy and litigation, international tax […]