DonovanLegal

Tax | Real Estate; Dual citizen, USA and Ireland; Tweets are not legal advice. RT/follow ≠ endorsement

[DonovanLegal @DonovanLegal]

1/6 Before choosing a tax advisor, ask three questions:

What type of firm is it?
Who leads the firm?
Who will sign your return?

The answers are not interchangeable. 🧵
https://t.co/Wu4sVSNjV5
#TaxAdvisor #TaxLaw

[DonovanLegal @DonovanLegal]

"Father claims the children in even years" is unenforceable
against the government without the signed federal release, executed year
by year. The agreement should obligate the signature — not just recite
the outcome. Small drafting point; recurring April fight.

Link: https://t.co/8UBWh2QHTs
The decree doesn't bind the IRS — dependency claims
need the federal release. https://t.co/z3GpFlWCL8

#divorce
#custody #dependents #familylaw

[DonovanLegal @DonovanLegal]

Some of the most expensive decisions in a divorce sit between
your two advisors — asset selection, buyout structure, the joint return,
the carryforwards. Structural, not anyone's failure. And fixable, for a
fixed fee, before signing. Tax counsel at the settlement table —
alongside your family lawyer, never replacing them.

Link: https://t.co/wj3kPkvH4A
Your litigator doesn't do tax, your CPA doesn't do
litigation — the advisor gap in divorce. https://t.co/z3GpFlWCL8

#divorce
#divorceattorney #taxcounsel #highnetworth

[DonovanLegal @DonovanLegal]

For post-2018 agreements, alimony is neither deductible to the
payor nor income to the recipient — and modifying an older order can flip
its treatment. The tax planning moved from the support column to the
property column. That changes how settlements get built.
Link: https://t.co/8UBWh2Qa3U
: Alimony isn't deductible anymore — where the tax
planning moved. https://t.co/z3GpFlW4VA
#alimony
#divorce #TCJA #taxlaw

[ABA Tax Section @ABATAXSECTION]

Join the top criminal tax and controversy practitioners this December in Las Vegas. Register for the 2026 Criminal Tax Fraud and Tax Controversy Conference. https://t.co/G9nWzwYVAV

#Tax #TaxLaw #TaxCLE #Taxation #ABA #AmericanBarAssociation #26TaxCTF #TaxControversy #CivCrim

[DonovanLegal @DonovanLegal]

For family lawyers: fees defending or dividing property can
enter the basis of the assets — and the billing narratives your firm
writes this month are the proof your client's CPA will need years from
now. Five minutes of entry discipline preserves a benefit someone else
will discover — with you on record as the lawyer who caught it.

Link: https://t.co/8UBWh2Qa3U
Your time entries are tax evidence — billing
discipline for family lawyers. https://t.co/z3GpFlW4VA

#familylaw #matrimonialbar #legalbilling #taxlaw

[DonovanLegal @DonovanLegal]

Loss carryforwards can be worth six figures of future tax
shelter — and they appear on no asset schedule, because they aren't
accounts. They're lines on last year's return that nobody at the table
has read. We read the returns the way the forensic reads the bank statements.
Link: https://t.co/RQrD82w8Pc
A $400K carryforward is on nobody's schedule — the
invisible assets in the tax file. https://t.co/z3GpFlWCL8
#divorce #assetdivision #TaxPlanning

[The Tax Adviser @TheTaxAdviser]

These distribution provisions for sharing earnings between private fund managers and investors can clash with Sec. 704 partnership rules in certain ways. https://t.co/asKqFklmMZ

[The Tax Adviser @TheTaxAdviser]

While the Sixth Circuit held that the ban is necessary and proper under the U.S. Constitution for collecting a federal excise tax on spirits, the Fifth Circuit held under the same criterion that the ban is unconstitutional. https://t.co/svfeMg1uF7

[DonovanLegal @DonovanLegal]

@IrishTimes Excellent idea

[DonovanLegal @DonovanLegal]

@DelrayBeachPD Slippery slope. They will start with school zones and then they will be everywhere.

[DonovanLegal @DonovanLegal]

The refund is marital property. The audit exposure can be too.
Refunds, carryforwards, estimated payments, open years — they default by
silence, to whoever the rules happen to favor. One page in the agreement retires all of it.
Link: https://t.co/RQrD82vAZE
Alt: Cream graphic: Who gets the refund, who gets the audit — tax claims
in divorce. https://t.co/z3GpFlW4VA

#divorce #taxrefund #audit #settlement

[The Tax Adviser @TheTaxAdviser]

Tax practitioners must heed rules and professional guidelines for substantial authority and other specified levels of confidence in a tax position’s success upon being challenged on its merits. https://t.co/ZnrvxJP5IQ

[DonovanLegal @DonovanLegal]

Financial affidavits put every foreign account under oath and unfiled reporting carries five-figure penalties per year. The cure has an
order of operations, and your own case schedule closes the window.
Fixable — in the right order, under privilege, before the affidavit.

Link: https://t.co/6din5NHr3i
Alt: Green graphic: The divorce is here, the account isn't — foreign
account reporting traps in divorce. https://t.co/z3GpFlWCL8

#FBAR #foreignaccounts #divorce #InternationalLaw

[DonovanLegal @DonovanLegal]

Your marital status on December 31 controls the whole year's
filing. A decree entered before year-end erases the joint option; after,
preserves it. The date of the final judgment is itself worth money in either direction. Few people calendar it that way.
Link: https://t.co/AbVHxtOhue
Alt: Cream graphic: December 30 or January 2 — the decree date is a tax
election. https://t.co/z3GpFlW4VA
#divorce #TaxPlanning #donovanlegal

[DonovanLegal @DonovanLegal]

A joint return makes each spouse liable for the ENTIRE tax —
including income you never saw. Your divorce decree doesn't bind the IRS.
Sometimes signing is right. It should never be right by default — and it
should never be free.
Link: https://t.co/AbVHxtOPjM
Alt: Green graphic: One signature, all the liability — joint returns. #jointreturn #innocentspouse #divorce #IRS
.

during divorce. https://t.co/z3GpFlWCL8

[The Florida Bar @TheFlaBar]

Congratulations to the July Bar Exam takers! For the 1700 of you who have been approved for admission to The Florida Bar, we look forward to you joining us! Completing the Exam is a tremendous task regardless of your score, and we are proud of all of you! https://t.co/Nvy1klp2Na

[The Tax Adviser @TheTaxAdviser]

Businesses should review interest limitation elections filed with 2022–2024 returns. Under the revenue procedure, certain taxpayers can withdraw past elections, potentially changing interest and depreciation treatment. https://t.co/TcY7OENdP2

[DonovanLegal @DonovanLegal]

6/6 At Donovan Legal, every return is personally signed by Paul K. Donovan.

Attorney and CPA with 30 years of real estate tax experience. Admitted in Florida, Massachusetts, the U.S. Tax Court and the U.S. Supreme Court.

https://t.co/nLTMF5jy2e

General information, not legal or tax advice.

[DonovanLegal @DonovanLegal]

1/6 Before choosing a tax advisor, ask three questions:

What type of firm is it?
Who leads the firm?
Who will sign your return?

The answers are not interchangeable. 🧵
https://t.co/Wu4sVSNjV5
#TaxAdvisor #TaxLaw

[DonovanLegal @DonovanLegal]

5/6 Who signs your return?

If the IRS challenges a tax position, avoiding penalties may depend on whether you reasonably relied on a competent professional with sufficient expertise.

Your advisor’s qualifications and accountability matter.
https://t.co/Wu4sVSNjV5