Five Basic Tax Tips for New Businesses

BizPpl
If you start a business, one key to success is to know about your federal tax obligations. You may need to know not only about income taxes but also about payroll taxes. Here are five basic tax tips that can help get your business off to a good start.

 

  1. Business Structure. As you start out, you’ll need to choose the structure of your business. Some common types include sole proprietorship, partnership and corporation. You may also choose to be an S corporation or Limited Liability Company. You’ll report your business activity using the IRS forms which are right for your business type.
  2. Business Taxes. There are four general types of business taxes. They are income tax, self-employment tax, employment tax and excise tax. The type of taxes your business pays usually depends on which type of business you choose to set up. You may need to pay your taxes by making estimated tax payments.
  3. Employer Identification Number. You may need to get an EIN for federal tax purposes. Search “do you need an EIN” on IRS.gov to find out if you need this number. If you do need one, you can apply for it online.
  4. Accounting Method. An accounting method is a set of rules that determine when to report income and expenses. Your business must use a consistent method. The two that are most common are the cash method and the accrual method. Under the cash method, you normally report income in the year that you receive it and deduct expenses in the year that you pay them. Under the accrual method, you generally report income in the year that you earn it and deduct expenses in the year that you incur them. This is true even if you receive the income or pay the expenses in a future year.
  5. Employee Health Care. The Small Business Health Care Tax Credit helps small businesses and tax-exempt organizations pay for health care coverage they offer their employees. A small employer is eligible for the credit if it has fewer than 25 employees who work full-time, or a combination of full-time and part-time. Beginning in 2014, the maximum credit is 50 percent of premiums paid for small business employers and 35 percent of premiums paid for small tax-exempt employers, such as charities.

 

For 2015 and after, employers employing at least a certain number of employees (generally 50 full-time employees or a combination of full-time and part-time employees that is equivalent to 50 full-time employees) will be subject to the Employer Shared Responsibility provision.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.
IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.
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Tips on Gambling Income and Losses

 

Whether you like to play the ponies, roll the dice or pull the slots, your gambling winnings are taxable. You must report all your gambling income on your tax return. If you’re a casual gambler, odds are good that these basic tax tips can help you at tax time next year:

 1. Gambling income.  Gambling income includes winnings from lotteries, horse racing and casinos. It also includes cash prizes and the fair market value of prizes like cars and trips.

 2. Payer tax form.  If you win, you may get a Form W-2G, Certain Gambling Winnings, from the payer. Generally W-2G’s are issues if you win $1,200.00 or more. The IRS also gets a copy of the W-2G. The payer issues the form depending on the type of game you played, the amount of your winnings and other factors. You’ll also get the form if the payer withholds taxes from what you won.

 3. How to report winnings.  You are required to report all your gambling winnings as income. This is true even if you don’t receive a Form W-2G. You normally report your winnings for the year on your tax return as ‘other income.’

 4. How to deduct losses.  You can deduct your gambling losses on Schedule A, Itemized Deductions. The amount you can deduct is limited to the amount of the gambling income you report on your return.

5. Keep gambling receipts.  You should keep track of your wins and losses. This includes keeping items such as a gambling log or diary, receipts, statements or tickets, even ATM transactions or bank records. If you are a slot machine player, the casino can also give you a Win/Loss Sheet, provided you use your “Players Card”.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.
IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.

 

Don’t Fall for Tax Scams!

Money FlagEvery year, people fall prey to tax scams. We want you to be safe and informed – and not become a victim.

Taxpayers who get involved in illegal tax scams can lose their money, or face stiff penalties, interest and even criminal prosecution. Remember, if it sounds too good to be true, it probably is. Be on the lookout for these scams. 

Identity theft. Tax fraud using identity theft tops this year’s Dirty Dozen list. In many cases, an identity thief uses a taxpayer’s identity to illegally file a tax return and claim a refund.

fLAG eAGLEPervasive telephone scams.  The IRS has seen an increase in local phone scams across the country. Callers pretend to be from the IRS, The Department of the Treasury and the GAO (Government Accountability Office) in hopes of stealing money or identities from victims. If you get a call from someone claiming to be from these organizations do not provide any personal information or send them any money. Take down their contact information, so we can help verify if they are calling from a legitimate government organization. Often our government has specific telephone prefixes not available to the general public. If you know you owe taxes or think you might owe taxes, call the us and we can assist in dealing with the IRS.

Phishing.  Phishing scams typically use unsolicited emails or fake websites that appear legitimate. Scammers lure in victims and prompt them to provide their personal and financial information. The fact is that the IRS does not initiate contact with taxpayers by email to request personal or financial information. This includes any type of electronic communication, such as text messages and social media channels.

MONEYFalse promises of “free money” from inflated refunds.  The bottom line is that you are legally responsible for what’s on your tax return, even if someone else prepares it. Scam artists often pose as tax preparers during tax time, luring victims in by promising large tax refunds. Taxpayers who buy into such schemes can end up penalized for filing false claims or receiving fraudulent refunds. Take care when choosing someone to do your taxes.

Return preparer fraud.  About 60 percent of taxpayers will use tax professionals this year to prepare their tax returns. Most return preparers provide honest service to their clients. But some dishonest preparers, prey on unsuspecting taxpayers, and the result can be refund fraud or identity theft.  Choose licensed professionals and reputable companies when hiring an individual or a company to do your return.  Only use a tax preparer that will sign your return and enter their IRS Preparer Tax Identification Number (PTIN).

OFFSHOREHiding income offshore.  While there are valid reasons for maintaining financial accounts abroad, there are reporting requirements. U.S. taxpayers who maintain such accounts and do not comply with these requirements are breaking the law. They risk large penalties and fines, as well as the possibility of criminal prosecution. The IRS has prosecuted and collected billions of dollars in back taxes, interest and penalties from people who participated in offshore voluntary disclosure programs since 2009. Don’t become another  defense statistic. It is a taxpayers right to reduce your taxes, but it also in the best interest of taxpayers to come forward and pay the taxes owed. Call our offices and we will help you legitimately save on your taxes.

Impersonation of charitable organizations. Taxpayers need to be sure they donate to recognized charities. Following major disasters, it’s common for scam artists to impersonate charities to get money or personal information from well-intentioned people. They may even directly contact disaster victims and claim to be working with our government to help the victims file casualty loss claims and get tax refunds.

False income, expenses or exemptions.  Falsely claiming income you did not earn or expenses you did not pay in order to get larger refundable tax credits is tax fraud. This includes false claims for the Earned Income Tax Credit. These taxpayers often end up repaying the refund, including penalties and interest or faces criminal prosecution.

Frivolous arguments.  Frivolous schemes encourage taxpayers to make unreasonable and outlandish claims to avoid paying the taxes they owe. There are numerous legitimate ways to contest tax liabilities, before the IRS and  in court. Don’t get trapped  by someone suggesting crazy schemes or defenses to reduce your tax liability or fight the IRS. These may lead to higher taxes, penalties and interest or even criminal prosecution.

Falsely claiming zero wages or using false Form 1099.  Filing false information with the IRS is an illegal way to try to lower the amount of taxes owed. Typically, fraudsters use a Form 4852 (Substitute Form W-2) or a “corrected” Form 1099 as a way to improperly reduce taxable income to zero. The fraudster may also submit a false statement denying wages and taxes reported by a payer to the IRS.

Abusive tax structures. These abusive tax schemes often involve sham business entities and dishonest financial arrangements for the purpose of evading taxes. The schemes are usually complex and involve multi-layer transactions to conceal the true nature and ownership of the taxable income and assets. The schemes often use Limited Liability Companies, Limited Liability Partnerships, International Business Companies, foreign financial accounts and offshore credit/debit cards.

Misuse of trusts.  There are reasonable uses of trusts in tax and estate planning. However, questionable transactions also exist. They may promise reduced taxable income, inflated deductions for personal expenses, ways to hide your assets, the reduction or elimination of self-employment taxes and reduced estate or gift transfer taxes.  These trusts rarely deliver promised tax benefits.

Tax scams can take many other forms as well. The best defense is to remain vigilant.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947847-466-7947 of 702-966-2770702-966-2770.
IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.

IRS Criminal Prosecutions Rose under Obama

USA CtDuring the Obama administration, the number of criminal prosecutions referred by the Internal Revenue Service to the Justice Department has increased 23.4 over the Bush years. Prosecutions in fiscal year 2013 alone jumped 30.6 percent from last year to 2,010 new prosecutions, a banner year for criminal prosecutions.

Convictions for tax crimes are also drawing slightly longer average prison terms. Under Obama prison terms are 27 months versus only 25 months under Bush, according to information obtained by TRAC under the Freedom of Information Act from the Executive Office for United States Attorneys.

For both administrations, the odds have been roughly 50-50 that federal prosecutors will accept an IRS referral for criminal prosecution. However, a surge in IRS criminal investigations referred under Obama has fueled an increase in the number of cases prosecuted. This has occurred even though the number of IRS fulltime criminal investigators has not grown: the average of 2,758 IRS criminal investigators during the Bush years has shrunk to 2,705 (a 2% drop) during the Obama administration.

Overall, prosecutions of this type are up 63.4 percent from the level of 1,230 reported in 2003, with “Fraud and False Statements” at the top of the list (230 in 2013). This is followed closely by “Attempt(s) to Evade or Defeat Tax”, with 200 prosecutions in 2013.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.
IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.

During the Obama administration,

Who Should File a 2012 Tax Return?

TaxRet

If you received income during 2012, you may need to file a tax return in 2013. The amount of your income, your filing status, your age and the type of income you received will determine whether you’re required to file. Even if you are not required to file a tax return, you may still want to file. You may get a refund if you’ve had too much federal income tax withheld from your pay or qualify for certain tax credits.

Even if you’ve determined that you don’t need to file a tax return this year, you may still want to file. Here are five reasons why:

1. Federal Income Tax Withheld.  If your employer withheld federal income tax from your pay, if you made estimated tax payments, or if you had a prior year overpayment applied to this year’s tax, you could be due a refund. File a return to claim any excess tax you paid during the year.

2. Earned Income Tax Credit.  If you worked but earned less than $50,270 last year, you may qualify for EITC. EITC is a refundable tax credit; which means if you qualify you could receive EITC as a tax refund. Families with qualifying children may qualify to get up to $5,891 dollars. You can’t get the credit unless you file a return and claim it. Use the EITC Assistant to find out if you qualify.

3. Additional Child Tax Credit.  If you have at least one qualifying child and you don’t get the full amount of the Child Tax Credit, you may qualify for this additional refundable credit. You must file and use new Schedule 8812, Child Tax Credit, to claim the credit.

4. American Opportunity Credit.  If you or someone you support is a student, you might be eligible for this credit. Students in their first four years of post-secondary education may qualify for as much as $2,500 through this partially refundable credit. Even those who owe no tax can get up to $1,000 of the credit as cash back for each eligible student. You must file Form 8863, Education Credits, and submit it with your tax return to claim the credit.

5. Health Coverage Tax Credit.  If you’re receiving Trade Adjustment Assistance, Reemployment Trade Adjustment Assistance, Alternative Trade Adjustment Assistance or pension benefit payments from the Pension Benefit Guaranty Corporation, you may be eligible for a 2012 Health Coverage Tax Credit. Spouses and dependents may also be eligible. If you’re eligible, you can receive a 72.5 percent tax credit on payments you made for qualified health insurance premiums.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.
IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.

 

Illinois Legislation Requires Lenders to Respond to Short Sale Requests within Ninety Days

Written & Contributed by Karen G. Courtney, Managing Attorney, Attorneys’ Title Guaranty Fund, Inc. Short Sale Coordination

House KeyThe short sale process is complicated and lengthy. Distressed homeowners often experience frustration with the short sale approval process because many lenders do not respond to the homeowner’s request for a short sale in a timely manner. Many short sales fail when buyers walk away due to their unwillingness to wait the many months it often takes to obtain short sale approval. A new law in Illinois could bring relief to distressed homeowners.

Effective January 13, 2012, the Illinois Mortgage Foreclosure Law was amended to add new Section 15-1401.1, which requires the mortgagee in a foreclosure of residential real estate to respond to the mortgagor’s written request for a short sale within 90 days after receipt of a bona fide written offer to purchase the property that is the subject of the foreclosure proceeding and written request from mortgagor to approve the sale on the terms of the offer to purchase. See 735 ILCS 5/15-1401.1(b).

Presumably, if a lender fails to respond within this 90-day period, the borrower could bring a motion before the judge hearing the foreclosure case to compel a response from the lender regarding the request for a short sale. Under Section 15-1401.1(c), however, the mortgagee shall determine whether to accept the mortgagor’s short sale offer, and failure to accept the offer shall not impair, abrogate, or affect the status of the foreclosure proceedings, and the 90-day period shall not operate as a stay of the foreclosure proceedings. See 735 ILCS 5/15-1401.1(c). The full text of Section 15-1401.1 provides as follows:

Sec. 15-1401.1. Short sale in foreclosure.(a) For purposes of this Section, “short sale” means the sale of real estate that is subject to a mortgage for an amount that is less than the amount owed to the mortgagee on the outstanding mortgage note.(b) In a foreclosure of residential real estate, if (i) the mortgagor presents to the mortgagee a bona fide written offer from a third party to purchase the property that is the subject of the foreclosure proceeding, (ii) the written offer to purchase is for an amount which constitutes a short sale of the property, and (iii) the mortgagor makes a written request to the mortgagee to approve the sale on the terms of the offer to purchase, the mortgagee must respond to the mortgagor within 90 days after receipt of the written offer and written request.(c) The mortgagee shall determine whether to accept the mortgagor’s short sale offer. Failure to accept the offer shall not impair or abrogate in any way the rights of the mortgagee or affect the status of the foreclosure proceedings. The 90-day period shall not operate as a stay of the proceedings.

This amendment does not provide for any monetary penalties for non-compliance, but the hope is that it will incentivize reputable lenders to respond to homeowners’ short sale requests in a timely fashion. The process is complicated enough without unnecessary delays.

One possible unintended consequence of this amendment, however, could be that some lenders may simply decline a short sale request without fully evaluating it when faced with a 90-day response time frame and motion to compel. Nevertheless, this amendment gives homeowners a potential judicial remedy to help keep the short sale process moving forward in a timely manner.

Attorneys’ Title Guaranty Fund, Inc., Can Help Us Coordinate Your Short Sales

Short sales are difficult to complete. The process is inefficient and labor intensive. Attorneys’ Title Guaranty Fund, Inc. can help us take care of the administrative tasks involved in obtaining short sale approvals, so we can focus on doing what we do best—representing you, our client. ATG’s experienced Short Sale Coordination professionals perform the following tasks:

  •  Work directly with our office, your real estate agent and you to assemble and submit documentation in an efficient and timely manner to persuade the lender to agree to the short sale.
  • Partner with the us to prepare and submit the required HUD-1 Settlement Statement.
  • Communicate with lenders and servicers throughout the short sale process, saving everyone valuable time.

If the short sale is not approved, ATG charges no fee! Interested? Have questions? Contact us.

Our Title Company, ATG Can Help us Close Your Short Sales

Short sales are difficult to complete. The process is inefficient and labor intensive. ATG helps us take care of the administrative tasks involved in obtaining short sale approvals, so we can focus on doing what you do best—representing you our client. ATG’s experienced Short Sale Coordination professionals perform the following tasks:

  • Work directly with us, your attorneys and you to assemble and submit documentation in an efficient and timely manner to persuade the lender to agree to the short sale.
  • Partner with the us to prepare and submit the required HUD-1 Settlement Statement.
  • Communicate with lenders and servicers throughout the short sale process, saving the everyone valuable time.

If the short sale is not approved, ATG charges no fee! Contact our office for more information.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.

IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.

ATG EDITOR’S NOTE: In the event that this communication is disseminated to the consumer in connection with ATG’s Short Sale Coordination Services, ATG hereby provides the consumer with the following disclosures in compliance with the Mortgage Assistance Relief Services Rule (16 C.F.R. Part 322) promulgated by the Federal Trade Commission:

 IMPORTANT NOTICE FROM ATG – You may stop doing business with us at any time. You may accept or reject the offer of mortgage assistance we obtain from your lender [or servicer]. If you reject the offer, you do not have to pay us. If you accept the offer, you will have to pay us an amount equal to one percent (1%) of the purchase price, or a minimum of $2,000.00, whichever is greater, for our services. ATG is not associated with the government, and our service is not approved by the government or your lender. Even if you accept this offer and use our service, your lender may not agree to change your loan. If you stop paying your mortgage, you could lose your home and damage your credit rating.

ORIGINALLY PUBLISHED IN THE TRUSTED ADVISER  – which is published by Attorneys’ Title Guaranty Fund, Inc., P.O. Box 9136, Champaign, IL 61826-9136. Inquiries may be made directly to Mary Beth McCarthy, Corporate Communications Manager. ATG®, ATG® plus logo, are marks of Attorneys’ Title Guaranty Fund, Inc. and are registered in the U.S. Patent and Trademark Office. The contents of the The Trusted Adviser © Attorneys’ Title Guaranty Fund, Inc..

TaxMasters – Latest Tax Resolution Service to have Trouble Files for Bankruptcy

Tax Client ScreamingTax Masters, Inc. is the latest in a series of tax resolution services that have had legal troubles for defrauding their clients.

 TaxMasters Inc, a Houston based tax advisory firm, whose claims of solving taxpayers’ IRS problems landed them in hot water with Texas regulators, declared bankruptcy in court papers on Sunday. According to reports, the company filed for Chapter 11, listing assets of less than $5,000 and up to 5,000 creditors after it failed to secure capital funding.

On the eve of the fraud trial with the State of Houston, TaxMasters filed for bankruptcy protection claiming they owe thousands of people millions of dollars. This appears to be in the hopes that it would stop or delay he trial. On Monday afternoon at TaxMasters west Houston corporate headquarters, an employee, who identified himself only as “Exactly,” told ABC News, that TaxMasters, Inc. was still open.

Back in May 13th of 2010 the Texas Attorney General files enforcement action against TaxMasters, Inc.; cites nearly 1,000 complaints about defendants’ conduct and business practices

Texas Attorney General Greg Abbott charged Houston-based TaxMasters, Inc., and its chief executive officer, Patrick Cox, with multiple violations of the Texas Deceptive Trade Practices Act and Texas Debt Collection Act.

According to the state’s enforcement action, the defendants unlawfully misled customers about their service contract terms, failed to disclose its no-refunds policy, and falsely claimed that the firm’s employees would immediately begin work on a case – despite the fact that TaxMasters did not actually start to work on a case until its customers paid in full for services, even if that delayed response meant taxpayers missed significant IRS deadlines.

”Attorney General Abbott said. “A state investigation and nearly 1,000 customer complaints indicate that the defendants routinely misled customers about the nature of their tax resolution service agreements – and worse, attempted to enforce those improper agreements through unlawful debt collection tactics. The state’s enforcement action seeks to prohibit the defendants from continuing to violate the law and seeks restitution for the financially struggling taxpayers who were harmed by the defendants’ unlawful conduct.”

According to court documents, many callers were offered an installment plan so that they could pay the defendants’ fee over a specified period of time. However, callers who asked to see written terms and conditions prior to making a payment were informed that a credit card or bank account number is necessary to generate a written TaxMasters service contract. As a result, TaxMasters customers were unaware – and the defendants’ personnel did not have a practice of disclosing – multiple aspects of the TaxMasters service agreement that were harmful to taxpayers.

 For example, the defendants did not disclose that all customer payments submitted to TaxMasters are non-refundable. Because customers were not provided written contracts and sales personnel did not reveal the no-refunds policy, customers did not know that they would not be able to recover any installment payments they submitted to TaxMasters – even if they ultimately decide to cancel before TaxMasters actually did any work on their tax case.

The state’s enforcement action also cites TaxMasters for failing to reveal that it would not begin work on a case until all installment payments had been remitted and the entire fee was paid. Multiple complaints indicate that customers entered into an installment agreement with the understanding that TaxMasters would immediately begin work on their case – only to discover later that no action was taken.

TaxMasters, Inc is just one in a series of major tax resolution services to have legal and financial troubles for fraud and misrepresentation, which includes:

  • Roni Deutch – On August 23, 2010, the office of the Attorney General of California announced that it would be filing a $34 million lawsuit against Deutch for allegedly “orchestrating a ‘heartless scheme’ that swindled thousands of people facing serious and expensive tax collection problems with the IRS.” See our Article on 04/25/2011 at http://wp.me/p2fL1B-1w


  • JK Harris – The company has been sued by a number of U.S. Attorneys General after receiving numerous consumer complaints about misleading business and advertising As a result of multiple lawsuits, JK Harris & Company LLC filed for Chapter 11 bankruptcy protection on October 7, 2011. The case was converted to a chapter 7 liquidation, closing the business, on January 10, 2012. JK Harris Small Business Services, LLC filed Chapter 11 and converted to Chapter 7 on the same dates, respectively. On March 11, 2012, company founder John K. Harris was arrested for contempt of court for failure to obey a court order in a separate case that pre-dates the bankruptcy.
  •  American Tax Relief – Federal Trade Commission (F.T.C.), filed a lawsuit against American Tax Relief in October of 2010, in an attempt to win consumers’ money back. At the F.T.C.’s request a federal judge in Chicago has ordered the company to stop making deceptive claims and appointed a receiver to take charge of the company. Of the 20,000 clients that the F.T.C. says it believes that American Tax Relief signed up, “we have not been able to find a single one” that the company helped to reduce a tax burden, said David Vladek, the chief of the commission’s division of consumer protection.

This article is provided for information purposes only and should not be relied upon for legal or financial advice. We would be happy to discuss how the information in this article affects or may help you. For more details about this matter, please contact our offices at 847-466-7947 of 702-966-2770.

IRS CIRCULAR 230 DISCLOSURE: Pursuant to requirements imposed by the Internal Revenue Service, any tax advice contained in this communication (including any attachments) is not intended to be used, and cannot be used, for purposes of avoiding penalties imposed under the United States Internal Revenue Code or promoting, marketing or recommending to another person any tax-related matter.