Deergrass Law, S.P.

Stop by and see my new office. I will be hosting an open house on February 17th with the East Sac Chamber. Everyone is welcome. Please RSVP here.

Monthly Mixer - Deergrass Law - Event Registration Every month East Sac Chamber members gather after hours to catch up, meet new members, do a bit of networking and get an inside glance at a local business.

Charitable Deduction for individuals who don't itemize. Federally (not California), taxpayers may claim a cash contribution (cash, credit/debit card) to a qualified charity of up to $300 for single filers and $600 for joint-filers even if they choose the standard deduction. Please ask your charity if they are qualified or visit this website to search for a qualified public charity: https://www.irs.gov/charities-non-profits/tax-exempt-organization-search

Foreign bank account? Didn't know about mandatory US reporting requirements for that Italian bank account you inherited 5 years ago?

Come into voluntary compliance by means of 1) the Voluntary Disclosure Practice, 2) the streamlined filing compliance procedures or 3) the delinquent FBAR and information return submission procedures.

CONTACT ME to assist in voluntarily reporting the accounts or to attempt to mitigate the massive penalties the IRS is proposing or assessed against you. I'm happy to work on a contingency basis where you only pay for successful performance.

Credit Card Rewards NONTAXABLE
The IRS attempted to ignore its own policy and issued a $200k bill to a couple for their inventive way to maximize their credit card rewards and, calling this an abuse of its policy, the Tax Court said it hopes the IRS "polices the IRS policy in the future in regulations or public pronouncements rather than relying on piecemeal litigation." Anikeev, T.C. Memo. 2021-23

My thoughts: If these folks couldn't afford the time or money to bring the issue in front of a Tax Court judge, who simply applied the law AS WRITTEN BY THE IRS ITSELF, they'd be staring down a quarter of a million dollars of tax debt, have liens placed on their realty (destroying their credit scores), and begin fielding collection calls from outsourced 3rd party collectors who would treat them like tax deadbeats. I don't know if we need to add funding to IRS enforcement efforts if we can't trust it to abide by its own "black-letter" law. Where was the quality control?

We would love to help you with your “write offs”.

"That's not a write-off" scene from Schitt's Creek "That's not a write-off" scene from Schitt's Creek

Deergrass Law Tax Preparation and Bankruptcy Attorney Law Firm: Deergrass Law, S.P. is a solo practice, debt relief law firm based in Sacramento, California, owned and operated by Kale Marzion, Esq. who is licensed to practice law by the State Bar of California, which helps people file for Chapter 7 bankruptcy relief of the Bankruptcy Code.

Learn More Here:
https://deergrasslaw.com/faq?offset=1612815216665

Deergrass Law Tax Preparation and Bankruptcy Attorney Law Firm: Deergrass Law, S.P. is a solo practice, debt relief law firm based in Sacramento, California, owned and operated by Kale Marzion, Esq. who is licensed to practice law by the State Bar of California, which helps people file for Chapter 7 bankruptcy relief of the Bankruptcy Code.

Learn More about filing 1099-C
https://deergrasslaw.com/faq/2021/2/8/filing-1099-c

https://deergrasslaw.com/faq/2021/2/8/ex-claiming-you-as-a-dependant-for-stimulus

Dear Teachers/Aides/Counselors of K-12, you may include the unreimbursed costs of Covid-19 protective items e.g. face masks, air purifiers, disinfectant etc. in the $250 (or $500 if married to a teacher) above-the-line deduction.https://www.irs.gov/pub/irs-drop/rp-21-15.pdf 😷

www.irs.gov

Now booking online tax appointments.
https://deergrasslaw.com/schedule-an-appointment

Now that Teslas no longer qualify for a tax credit do you wonder which vehicles still qualify for a dollar-for-dollar reduction of your federal income tax? Here is an updated list (also don't forget about a credit for installing a charger in your home!)

IRC 30D New Qualified Plug-In Electric Drive Motor Vehicle Credit | Internal Revenue Service Review the IRS credit for Qualified Plug-in Electric Drive Motor Vehicles, including passenger vehicles and light trucks, and a qualified vehicle index.