< "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> The Tax Prophet
Copyright ┬ę 1995-2013 Robert L. Sommers, All rights reserved.
< "http://www.w3.org/TR/xhtml1/DTD/xhtml1-transitional.dtd"> The Tax Prophet
Copyright ┬ę 1995-2013 Robert L. Sommers, All rights reserved.


What's our government up to? What are the current tax strategies and are they working? The latest taxpayer victories and defeats in the Courts and with the IRS.

Caution: Think you can avoid income taxes by transferring your assets to a "pure equity" or common-law trust?   Visit the Tax Prophet's Trust Scam Bulletin Board.  Save yourself a lot of money and potential grief!

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Tax Prophet Newsletters


May, 2009 Is Your Life Insurance Policy Imploding?

April, 2009 Top Tax Scams for 2009

March, 2009 Limited Amnesty for Off-Shore Accounts

February, 2009 Swiss Bank Admits to U.S. Tax Fraud

January, 2009 The 2009 Estate Tax Roller Coaster


December, 2008 The Madoff Scam - Tax Relief for Victims?

November, 2008 Swiss Secret Accounts Under Fire

October, 2008 Sarah Palin's Makeover - Tax Issues

September, 2008 Theft Loss Deduction

August, 2008 Residence Exclusion - New Limitation

July, 2008 Your Independent Contractor Business: Choice of Entity

June, 2008 Wheel of Fortune IRS Style

May, 2008 Foreign Bank Accounts

April, 2008 Wesley Snipes Headed for Club Fed

March, 2008 2008 Dirty Dozen Tax Schemes

February, 2008 The Economic Stimulus Act of 2008

January, 2008 The Wesley Snipes Trial


December, 2007 The Mortgage Debt Tax Relief Act

November, 2007 NY Yankee Derek Jeter - A Tax Outlaw?

October, 2007 Tax Consequences of Mortgage Foreclosures

September, 2007 Trust Transfers and Proposition 13 - Part Two

August, 2007 Trust Transfers and Proposition 13 - Part One

July, 2007 A Major New Tax Loophole for Tax Exempt Entities

June, 2007 The Private Equity Tax Loophole

May, 2007 Congress Shafts Families Saving for College

April, 2007 Tax Consequences of Stock Option Backdating

March, 2007 IRS Attacks Private Trust Annuity Tax Ploy

February, 2007 Selected Divorce Tax Traps

January, 2007 Introducing the Ownership Continuity and Control Plan ("OCC Plan")


December, 2006 An Outline: "Update: Foreign Earned Income Exclusion"

November, 2006 Taxation of Stock Options Transferred Pursuant to Divorce

October, 2006 IRS Crackdown on Obscure International Entertainers

October, 2006 - Special Edition Comparing S corporations with Limited Liability Companies

September, 2006 A Tax Haven for Rock Stars

August, 2006 Deducting International Business Travel

July, 2006 Deducting Personal Travel

June, 2006 IRS Targets Small Business

June, 2006 Taxation of Bounties (Special Edition)

May, 2006 Tax Increase Prevention and Reconciliation Act of 2005

May, 2006 Subsequent Capital Losses Cannot Offset AMT (Special Edition)

April, 2006 Qualified Personal Residence Trust

March, 2006 IRS - Too Kind and Gentle?

February, 2006 New U.S. Production Activities Deduction

January, 2006 "Survivor" Richard Hatch Guity of Tax Evasion


December, 2005 Estate Planning Considerations for 2006

November, 2005 Tax Evasion Through Pay Pal?

October, 2005 IRS Announces Tax Shelter Initiative

September, 2005 Hurricane Katrina - Tax Breaks

August, 2005 Tax Free Exchanges part 2 of 2

July, 2005 Tax Free Exchanges part 1 of 2

June, 2005 Major Tax Court Scandal

May, 2005 The Residence Exclusion

April, 2005 Hidden Dangers of California's Community Property Law

March, 2005 Wealthy Taxpayers Ignore Mainstream Tax-Planning

February, 2005 Strict Limits on Foreign Profits Tax Break

January, 2005 Combining the Residency Exclusion with Tax-Free Exchanges


December, 2004 Last Minute Planning Ideas for 2004

November, 2004 California's Domestic Partners Act

October, 2004 American Jobs Creation Act of 2004

September, 2004 Limited Amnesty for California Taxpayers

August, 2004 Basics of the Federal Estate Tax

July, 2004 Administering a Revocable Living Trust after the Death of the Settlor

June, 2004 Tax Consequences of Gifts

May, 2004 Taxation of Vacation Homes

April, 2004 Alternative Minimum Tax

March, 2004 - New Investment Tax Rules

February, 2004 - Tax Breaks for 2004

January, 2004   - The Basics of Asset Protection


December, 2003 - Last Minute Planning Ideas

November,2003 - Irrevocable Trusts - The Basics

September, 2003 - TAX PROBLEMS - What To Do If You Get A Notice For Additional Taxes

August, 2003 - A Revocable Trust - The Basics

June, 2003 - Jobs and Growth Tax Relief Reconciliation Act of 2003

May,2003 - Pending Tax Legislation


Note: Hot Topics has been replaced by the monthly newsletters above.

2004 Hot Topics

2003 Hot Topics

2002 Hot Topics

2001 Hot Topics

2000 Hot Topics

1999 Hot Topics

1998 Hot Topics

1997 Hot Topics

1996 Hot Topics

1995 Hot Topics

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All contents copyright ? 2008 Robert L. Sommers, attorney-at-law. All rights reserved. This internet site provides information of a general nature for educational purposes only and is not intended to be legal or tax advice. This information has not been updated to reflect subsequent changes in the law, if any. Your particular facts and circumstances, and changes in the law, must be considered when applying U.S. tax law. You should always consult with a competent tax professional licensed in your state with respect to your particular situation. The Tax Prophet(TM) is a trademark of Robert L. Sommers.