Archive for October 13th, 2007
Posted by taxguru on October 13, 2007
IRS Steps Up Scrutiny On Popular Tax Strategy – Thanks to an alert reader for the heads up on this article about upcoming IRS scrutiny of 1031 exchanges. A big stumbling block for IRS will be in educating its agents on the proper application of 1031 rules, especially the fact that different kinds of real estate qualify as like kind. I’ve lost track of the number of IRS agents I’ve had to train on this and other 1031 related issues.
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Comparing tax software
Posted by taxguru on October 13, 2007
Interesting article from the Journal of Accountancy reporting on the results of their survey of professional tax preparers’ opinions on software. Very handy side by side comparison of the features in the different programs in this pdf file.
I just received a copy of the 2006 Drake program and will be taking it for a test spin to see if it’s a suitable replacement for Lacerte after I make it through the October 15 crunch.
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Tax Guru - Ker$tetter Letter 