Lance Drury Law
Ste. Genevieve 573-883-3056
Columbia 573-886-8900
St. Louis 314-200-0003

February 2017 Archives

Will mortgage interest deductions be getting greater scrutiny?

Tax season is upon us. Among the things this means is that taxpayers are seeing a lot of tax documents. Sometimes, changes are made to such documents. Recently, some changes were made to a tax form that regards something many people here in the U.S. claim deductions in relation to: mortgage loan interest payments. We discussed deduction issues related to mortgages in a previous post.

What does separation of liability do?

Sometimes, a person encounters an unpleasant surprise after divorcing their spouse. This could include an unpleasant tax surprise. For one, they might be informed by the Internal Revenue Service that their spouse underpaid taxes on joint returns they had filed. Upon such a discovery, one thing a person might be quite worried about is that they could face a large tax liability as a result of their ex-spouse’s conduct.

Report recommends IRS make a culture change in interactions

Many people view interactions with the Internal Revenue Service negatively and as something to dread. There are various reasons for this. One is that such interactions sometimes happen in very stressful and high-stakes situations, such as situations in which a taxpayer is accused of having done something wrong on their taxes or told they owe more in the way of taxes than they thought they did. Another is that there is a certain degree of intimidation a person can feel when dealing with a major federal agency that can take enforcement actions that could have major impacts on a person’s life.

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The Law Firm of Lance R. Drury
150 Merchant Street
Ste. Genevieve, MO 63670

Phone: 314-200-0003
Fax: 573-883-3095
Ste. Genevieve Law Office Map

St. Louis Office
3636 South Geyer Road, Suite 100
St. Louis, MO 63127

Phone: 314-200-0003
Fax: 314-238-7201

Columbia Office
3610 Buttonwood Drive, Suite 200
Columbia, MO 65201

Phone: 573-886-8900
Fax: 573-886-8901

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- Lance

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