TX-LW Firm Blogs
Given our diverse firms, we are constantly exploring new ideas and staying up to date on the latest trends and developments in our industries.
On this page, you’ll find a selection of blog posts written by our experts across a range of disciplines, including tax, probate, business, and other services. These posts cover a wide range of topics, from industry-specific news and analysis to advice on how to navigate complex challenges.
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If You Never Received a Form 1099, Do You Still Have to Report the Income?
The U.S. tax system reports income through Form 1099s and similar information returns. The payer fills out the form, sends one copy to the IRS, and mails another to the recipient. The recipient has no economic stake in whether that second copy ever arrives. He needs nothing from it. He takes no deduction that depends………
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Can the IRS’s Automated System Issue a Valid Notice of Deficiency?
Every year, millions of taxpayers receive letters from the IRS proposing adjustments to their tax returns. Most people assume those letters came from a human being who reviewed the file, weighed the facts, and made a considered decision to send the notice. That assumption is increasingly wrong. The IRS relies heavily on automated systems to………
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Who Gets the Tax Credit When You Outsource Payroll to a PEO?
Many businesses outsource their payroll, human resources, and employment tax responsibilities to professional employer organizations. These arrangements make sense. The PEO handles the administrative burden of onboarding workers, processing wages, withholding taxes, and managing benefits. The business owner focuses on running the business and directing the workers. But when it comes time to claim employment-related………
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Too Late to Appeal: When Guardianship Orders Expire Before Courts Can Act
Guardianship proceedings in Texas can become battlegrounds almost overnight. When a family is already divided over who should care for a vulnerable loved one, court orders restricting one parent’s participation can feel like attacks rather than protections. And when a parent believes the appointed guardian is failing the ward, the impulse to keep filing motions……
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Selling a Furnished Vacation Home: Allocating Between Real & Personal Property
A vacation home is nice to have. Many vacation homes are owned for years–if not decades. The capital gains tax can be substantial when the owner goes to sell the property. And unlike a primary residence, the $250,000 or $500,000 gain exclusion under Section 121 is not available for a property that was never the………
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Can Corporate Suspension Foreclose U.S. Tax Court Review
There are a number of administrative rules that businesses have to comply with. This can create administrative headaches for businesses–particularly small businesses. The requirement for annual maintenace of state corporate status is an example. Businesses, particularly small businesses, often fail to meet annual state filing requirements. The result is that their corporate powers are limited.………
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Emergency Guardianship Sales in Texas: When Can Courts Ratify Sales Completed Without Prior Approval?
It can be challeging to be a guardian. The process can be time consuming and expensive. This is particularly true when the ward needs funds for their care, but the funds are not liquid. This raises questions as to whether a guardian can just sell illiquid assets to pay for the wards care expenses? What……
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Can the IRS Walk Away from an Installment Agreement?
Taxpayers who owe the IRS back taxes often try to work out terms with the IRS for the balance. This often involves an installment agreement. Once established, the IRS often terminates the agreements and it often does so without any notice or explanation as to why it did so. This can be extremely frustrating for………
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Contribution of A Note to a Subsidiary: The Zero-Basis Rule
Businesses organized through multiple related entities routinely use promissory notes to move money between them. A parent company may issue a note to a subsidiary to capitalize it or fund operations. Affiliates lend to one another as part of ordinary treasury management. In the partnership context, a partner who wants to demonstrate additional financial commitment—but………
