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The attorneys at Bell, Davis & Pitt are committed to staying current in our respective areas of practice. We maintain this blog to serve as an additional resource for our clients and our communities. Our aim is to provide useful and thoughtful content for anyone in search of information in these areas.

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IRS REPORTING REQUIREMENTS FOR INDEPENDENT CONTRACTORS

August 10, 2022
John A. Cocklereece, Jr. Travis Woolen
Tax Controversy Law
In a recent announcement, the IRS reminded businesses about their compensation reporting requirements for independent contractors and other nonemployee workers. When a business hires an independent contractor, the employer is generally not responsible for withholding income taxes, Social Security, or Medicare taxes from their compensation. However, business taxpayers who pay nonemployee compensation of $600 or more per year are required to report these payments to the IRS.
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GOOD REMINDERS ABOUT INDIVIDUAL RETIREMENT ACCOUNTS ["IRAs"]

July 17, 2022
John A. Cocklereece, Jr. Travis Woolen
Tax Controversy Law
 The IRS recently published some good summary information about the different types of, and different rules applicable to, IRAs. IRAs are perhaps one of the most common retirement planning vehicles, so it is good to be reminded of the basic ins and outs. IRAs provide tax incentives for people to make investments that can provide financial security when they retire. These accounts can be with a bank or other financial institution, a life insurance company, mutual fund, or stockbroker.

2022 Bell, Davis & Pitt Summer Clerkship Program Complete: Celebrating Summer Law Clerks Nicholas Tremps and Kaylie Jessup

July 7, 2022
Firm News
This week marks the completion of the 2022 Bell, Davis & Pitt Summer Clerkship program. Traditionally summer law clerkship programs give law students the opportunity to work alongside attorneys and legal professionals assisting them in assembling case materials, preparing legal drafts, researching law, writing reports, and conducting client interviews. As any law student will tell you, the completion of a clerkship is a career hallmark worth celebrating.

FILING A FINAL TAX RETURN FOR SOMEONE WHO HAS PASSED AWAY

June 23, 2022
John A. Cocklereece, Jr.
Tax Controversy Law
The IRS recently sent a notice that gave some good advice for anyone filing a tax return for someone who is deceased. Here are their tips: When someone dies, their surviving spouse or representative files the deceased person’s final tax return. On the final tax return, the surviving spouse or representative will note that the person has died. The IRS doesn’t need any other notification of the death.

FORSYTH COUNTY NC APPEAL DEADLINE FAST APPROACHING

June 10, 2022
John A. Cocklereece, Jr.
North Carolina Property Tax Law Monitor
The first step in appealing your property tax value is to appeal to the county Board of Equalization & Review ["BER"]. Each county has its own BER. So, one obviously appeals to the BER in the county where the property is located.  In order for the appeal to be timely, it must be filed by the "date of adjournment" of the BER.  The date of adjournment is a somewhat artificial date, as the BER will continue to meet and hear appeals after its "adjournment date." Nonetheless, to be timely, an appeal has to be filed by the adjournment date. 

REVISED PTC HEARING DATES ANNOUNCED

June 10, 2022
John A. Cocklereece, Jr.
North Carolina Property Tax Law Monitor
The North Carolina Property Tax Commission (PTC) is the state-level appeals body for property tax appeals. The PTC hears appeals from decisions of the Boards of Equalization and Review of all 100 N.C. counties. Hearings before the PTC are de novo. Decisions of the PTC are appealable to the North Carolina Court of Appeals. The PTC normally holds hearings once a month for 4 days at a time.

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