Partnership 1065 and S Corp 1120S Filing Deadline and Penalties

The deadline to file the Partnership 1065 and S Corporation 1120S tax returns is September 15, one month before the extended personal 1040 deadline...

Employment Tax Audit – 941, 940, W2. Footnote on IRS downsizing

We recently represented several taxpayers in employment tax audits stemming from irreconcilable 941′ ‘s to W2’s. Employment tax should have zero errors: quarterly 941’s...

Paid Tax Return Preparer Audits

Over the years we have represented several tax preparers who the IRS selects for examination as part of the Paid Preparer Due Diligence Program....

$80 1040 Tax Service Launch

$80 flat rate for basic 1040, 1 W-2 and 1 state, efiled addons: Child Tax Credit $50Earned income Credit $50 If you would like...

Charitable Remainer Annuity Trust – High Value, Low Basis Property for Income Stream

You want to tap into that value by way of income stream. One solution is to contribute that property to a Charitable Remainer Annuity...

Gotcha: IRS Tax Return Proposed Changes CP2000 – Omitted 1099

Taxpayer receives CP2000 from the IRS, which is IRS's proposed changes to the 1040 tax return. IRS has a before (shown on return) and...

Tax Debt Collection: Statute of Limitations Tolling

The IRS has a limited amount of time to collect your tax debt. This blog post discusses some of the your actions or reasons...

New Entity EIN and Tax Classification

This is one of the most important steps that could impact the entire future of your new business. Take your time before applying for...

S Corp Requirements (disproportionate distributions)

S Corporations can only have one class of stock. An argument can be unsuccessfully made that uneven de facto distributions to shareholders would be...

Guilty until Proven Innocent? Tax Court Burden of Proof

Who has the upper hand in Tax Court, the IRS or the Taxpayer? You decide. You are considering filing a petition with the United...