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|Copyright© 2005 Colin M. Cody, CPA and TraderStatus.com, LLC, All Rights Reserved.|
Daytrader, Securities trader, Commodity, Futures and FOREX traders all rely on
their tax professionals for appropriate advice.
But even when tax compliance work is performed with the best intentions by highly qualified professionals, the nuances of "trader status" taxation too often result with their clients feeling that their expectations were not competently addressed.
Throughout the country tax professionals are being challenged for their actions (and inactions) by their former clients regarding "trader status" tax issues.
Prior advice given regarding obtaining and complying with trader status, the mark-to-market election, and the use of single-member LLC's (SMLLC) are difficult concepts for which expert testimony or consultation may be required.
We have noticed that not even the largest and the most highly respected CPA / Attorney / Tax Advisory firms in the USA are above reproach when it comes to trader status. Colin M. Cody, CPA has been retained in litigation and mediation proceedings involving the well-known "household names" that you know who have been alleged to be guilty of failing the taxpayer's needs or neglecting at some level the specialized expertise needed to thoroughly, properly and professionally handle trader status taxation issues.
Litigating over "professional standards" and "due professional care" is not enough when ether plaintiff or defendant may be overlooking some facet of the case because of the unfamiliarity of this niche practice area of taxation.
Litigation over the applicability of the IRS Code §475 mark-to-market election can result in very complex litigation projects. From discovery to decision, Colin M. Cody, CPA stands ready providing complete trader status litigation support services for major law firms.
The types of litigation services provided:
April 15, 2008