Recently, Dennis was interviewed by Bankrate.com on his thoughts on tax implications of a cash-out mortgage refinance. Below is an excerpt of the quote: “Capital improvements must substantially improve your home,” explains Dennis Brager, a certified tax specialist with Los Angeles-based Brager Tax Law Group. “Kitchen and bathroom remodels, room…
On Tuesday evening our tax lawyers sent out an announcement discussing some of the tax filing and payment implications of the Covid-19 virus. We indicated that Secretary of Treasury Mnuchin had announced payment and filing extensions for the 2019 income tax returns. Mnuchin was quoted as saying “We encourage those…
In Greek mythology, King Sisyphus is punished by the gods and forced to roll a huge boulder up a hill only for it to roll down as it nears the top. No matter how much effort Sisyphus puts into attempting to push the boulder over the crest of the hill,…
The IRS must notify the other spouse—referred to as the nonrequesting spouse—if one spouse files a request for innocent spouse relief. If your spouse is successful in their attempt to receive innocent spouse relief, you will be on the hook for the tax debt, interest, and penalties that they get…
Fast Track Settlement (FTS) is an IRS program designed to resolve tax disputes within 60 days with the help of a trained mediator. Small businesses and self-employed taxpayers can used this program to quickly and efficiently resolve tax disputes, while still retaining all of their other appeal rights. Before using…