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.

Probate
tax
Business

  • IRS Collection From Business Partner’s Property

    Many business owners choose to acquire and operate their businesses with partners. This allows them to divide the responsibilities and share the risks and the rewards. But what happens when one business partner falls behind on their federal taxes? Could the tax-compliant partner’s share of the business and business assets be at risk? Can the…… Continue reading IRS Collection From Business Partner’s Property

  • Conduct During IRS Audit Evidence of Tax Return Fraud

    The courts have taken an expansive view as to what counts as fraud for tax matters. Some courts have even said taxpayers can be held accountable for fraud committed by their tax return preparers. When considering fraud, there is a question as to what activities are considered. Take for example the civil tax fraud penalty.…… Continue reading Conduct During IRS Audit Evidence of Tax Return Fraud

  • The IRS’s Challenges With Ghost Tax Preparation

    The IRS conducts very few audits. The IRS has recently focused its limited audit resources on higher-income taxpayers who already voluntarily comply with our tax laws. This has made the IRS audit much less effective and even less of a deterrent for most taxpayers. The IRS does have other deterrent measures in its tax enforcement…… Continue reading The IRS’s Challenges With Ghost Tax Preparation

  • IRS Can Revoke Your Offer in Compromise if it Does Not Like You

    Imagine working for years to resolve your tax problems and finally reaching an agreement with the IRS to settle your tax debt. You make all the required payments, fulfilling your part of the bargain. You think you are in the clear, but say the IRS employees who worked on your case do not like you.…… Continue reading IRS Can Revoke Your Offer in Compromise if it Does Not Like You

  • When You Can’t Deduct Annual Business Expenses

    Many businesses have significant recurring expenses that occur like clockwork each year. Think of annual maintenance shutdowns for manufacturing plants, seasonal refurbishments for hotels, or equipment rebuilds for industrial operations. While these expenses are predictable and virtually certain to occur, the timing of when they can be deducted for tax purposes isn’t always straightforward. The…… Continue reading When You Can’t Deduct Annual Business Expenses

  • Tax Refunds Lost to Timing Rules: Lesson, File Early, Pay Late

    You should always pay your taxes on time, right? After all, early payment avoids tax penalties and interest, and shows good faith compliance with tax obligations. This is not always the best approach. Why? Taxpayers who pay early or even on time may be precluded from getting money back from the IRS if they overpaid…… Continue reading Tax Refunds Lost to Timing Rules: Lesson, File Early, Pay Late

  • Navigating the Highway Transportation Excise Tax

    Many of our tax laws are written in very broad language. This provides a significant advantage to the IRS, as the IRS can issue interpretive guidance to clarify these rules in a way that is easier to administer and, often, in ways that maximize tax revenue for the government. This flexibility also aids IRS auditors…… Continue reading Navigating the Highway Transportation Excise Tax

  • IRS Cannot Assess Foreign Information Return Penalties

    Many businesses today have some international transactions. Many U.S. businesses even have operations in foreign countries–which may include ownership of entities, operations, or just sales. Our tax laws include several provisions that require U.S. taxpayers to report most of these foreign business interests and activities. These filings are mostly made by filing various information returns.…… Continue reading IRS Cannot Assess Foreign Information Return Penalties

  • Most Probate Court Orders Are Not Immediately Appealable

    When a probate court makes decisions during the administration of an estate, parties who disagree with those decisions may want to appeal right away. If the probate court makes a decision that negatively impacts the party’s rights, time may be of the essence to fix it. From an economic or practical perspective, a delayed fix… Continue reading Most Probate Court Orders Are Not Immediately Appealable