Bernard J. Powers, Wisconsin Tax Attorney

	BERNARD J. POWERS TAX CASES HANDLED
HOME ARTICLES TYPES OF TAX BACKGROUND TAX CASES SPEECHES ORGANIZATIONS EMAIL	Attorney Bernard J. Powers has been involved in over 210 tax matters since 1995. General descriptions of different tax matters worked on include: BUSINESS OWNERS’ TAX PROBLEMS Defended a former store manager who had been assessed substantial tax liabilities of his former corporate employer, even though he was not an owner or officer. Incorporated a sole proprietorship which had fallen behind on tax deposits and was having levies on its bank accounts and accounts receivable due from customers. Negotiated an acceptable installment payment plan for a client who was not eligible for a compromise but needed time to payoff his tax debt. Negotiated a settlement of the liability assessed against a partner for unpaid partnership payroll tax liabilities. Negotiated an offer in compromise for a corporation with substantial delinquent taxes. Negotiated an offer in compromise for a large Wisconsin sales tax liability incurred by the client’s defunct corporation while under the management of a relative. Negotiated release of a tax levy on a client’s home in order to free it up for sale. Obtained accepted offer in compromise for a business owner who incurred a large liability for payroll tax withholdings. Obtained an accepted offer in compromise for the former owner of a bankrupt corporation who was assessed personally for unpaid corporate payroll tax Represented a business owner in a voluntary disclosure application with the Wisconsin Department of Revenue for Wisconsin sales and use tax Resolved a large liability with the Department of Workforce Development for unpaid Wisconsin unemployment tax. INDIVIDUAL TAX PROBLEMS Helped a client get back into compliance with the system who had fallen behind in filing tax returns for many years. Negotiated an offer in compromise for a self-employed client who was unable to pay his quarterly estimates and fell behind on tax obligations. Represented a client on a voluntary disclosure application with the Wisconsin Department of Revenue for not having filed his past Wisconsin returns. Settled a Wisconsin individual income tax liability with the Wisconsin Department of Revenue. AUDIT ADJUSTMENTS: EXAMPLES OF DIFFERENT ISSUES IN TAX AUDITS, APPEALS AND LITIGATION DEFENDED BY ATTORNEY BERNARD POWERS Abatement of penalties (negligence, fraud, etc.) Accounting method changes; cash versus accrual Alimony versus Child Support Deduction Automobile expenses Bad Debt Write-off Basis Allocation and Adjustment Cancellation of Indebtedness Income Capital Contributions versus Loans Capital Gain versus Ordinary Income Characterization Capital Losses from Investments in Corporations Casualty Losses from Tax Shelter Investments Charitable Contributions – Valuation Compensation: Unreasonable amount paid to officer Constructive Receipt of Income Corporation: Unreasonable Accumulated Earnings and Profits Personal Holding Company Tax S Corporations: Late Elections Invalid Election Unreasonable Compensation Basis from Shareholder Debt Second Class of Stock Carry Over of Losses Debt versus Equity Dividends Paid Deduction Liquidation Gift Tax Covenant Not to Compete Amortization Depreciation Methods and Deductions Employee versus independent contractor classification Employment Tax: Fringe Benefits Plans Gift Loans Goodwill Amortization Hobby Loss Rules Installment method accounting Installment Sales: Disposition of Installment Obligations Interest Expense on Business Loan Interest Expense: Personal versus Investment Interest Inventory Accounting Methods Inventory Capitalized Costs Levy on Taxpayer’s Checking Account and Home of Taxpayer with Delinquent Taxes Meals Partnerships: Allocations of Tax Deductions among Partners Penalties for Late Filing of Partnership Returns Personal Exemptions – Allocation of Children Between Former Spouses Personal Exemptions for Relatives Prepaid income items Prepaid insurance premiums Reconstruction of Income Methods Seizure of Property of Taxpayer with Delinquent Taxes Statutes of Limitation: for Assessments for Collection Tax – Free Exchanges of Real Estate Tax Shelter Write-off and Penalties Travel and entertainment expenses Wagering and Gambling Losses Vacation Home Rules Valuation of Gifts