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……
TX-LW Blogs
Proving Equitable Adoption in Texas: What Evidence Do Courts Require?
Blended families are common across Texas. When a stepparent steps into a parental role and raises a child as their own, the emotional bonds formed can be just as strong as those between biological parents and children. However, Texas law draws a sharp distinction between stepchildren and legally adopted children when it comes to inheritance…
An Offer of IRS Appeals Review Can Preclude Judicial Review
The IRS assesses a tax penalty against you or your business. The audit closes and the IRS assesses the penalty. So how do you get a judge to look at it? For most tax disputes, the answer is the U.S. Tax Court. You can go there without first pre-paying the tax. But for certain types……
When the IRS Levies Estate Property, Whose Fight is it?
When a taxpayer dies with unresolved IRS issues—unpaid taxes, disputed levies, or unrefunded overpayments—the family often assumes that whoever inherits the estate can pick up where the decedent left off. That assumption might not be the correct. The tax code gives specific rights to specific parties. When the wrong person shows up in federal court……
Mental Capacity & Property Transfers Shortly Before an Incapacity Declaration
It can be difficult to care for elderly parents when they begin showing signs of cognitive decline. Families often try to manage their affairs. This may include getting appointed as the guardian of the parent. Before being appointed, there can be questions about whether the parent can still make major financial decisions. The stakes rise…
The IRS Audit Credit-Card-to-Cash Estimation Method for Cash Businesses
When it comes to income taxes, cash businesses have always been a challenge for the IRS. Cash is hard to track. Businesses, whether large or small, often fail to keep records of cash transactions. In other cases, businesses keep the records lose the records by the time the IRS audits the business years later. And……
Provision in a Will that Allows the Family to Dispose of Assets Mean that the Entire Family Inherits?
As probate attorneys, we see a lot of wills that just don’t cut it. We see everything from wills that fail to name executors, that fail to mention anything about death or dying, that fail to have witness signatures, etc. While we get that folks like to save a few dollars and skip the estate…
When are Court’s Orders in Guardianship Cases Appealable in Texas?
Say you find yourself in need of a guardianship attorney. You end up litigating an issue related to the guardianship. The court rules against you on some aspect of the case, and enters an order saying so. What rights do you have? Can you immediately appeal the order or do you have to wait until…
When Does a Tax Return Mistake Become a Crime?
The IRS has limited resources. This is true of its human capital and its technology resources. Even with significantly more resources, the IRS would still not be able to verify every entry on every return. There are just too many taxpayers, too many types of returns, and too many calculations and entries on the tax……