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February 2017 Archives

How does a new streamlined auditing process affect partnerships?

In our last post, we talked about how the Bipartisan Budget Act of 2015 and what it means for partnerships going forward. The simplification of the auditing process for partnerships was a huge boost for the Internal Revenue Service. It is now much easier for the IRS to audit partnerships, and these businesses must be prepared for this new world when the calendar flips from December 2017 to January 2018.

Why are partnership tax rules changing next year?

When the clock moves from 11:59 p.m. on Dec. 31, 2017 to 12:00 a.m. on Jan. 1, 2018, the tax rules will change for partnerships. In 1982, the Tax Equity and Fiscal Responsibility Act was passed and under those rules and regulations, taxes for partnerships have been defined and used ever since. But the rules are about to change in a big way next year.

W-2s should have been mailed, so prepare yourself for tax season

It is now February 1st, and all employers were required to mail or send out their W-2 forms by yesterday. If you haven't received your W-2s yet, you shouldn't panic. But you should be receiving them very soon. As these documents start coming in, taxpayers will soon come to grips with the fact that they need to get their taxes done.

Firm news & Events

Friday, November 18, 2016

Chaya Kundra will be a panelist at the New England IRS Representation Conference on Preparer Penalties.

Preparer Penalties: Everything You Need to Know! Over time the IRS has increased its focus from individual taxpayers to tax preparers. When the IRS identifies a pattern of false or fraudulent returns, it does not hesitate to impose penalties on the return preparers. This panel will walk you through the various penalties and what preparers need to know to protect themselves.

Moderator: Amanda Evans, Green & Sklarz LLC, New Haven, CT

Panelists: Chaya Kundra, Kundra & Associates, Rockville, MD, Barbara Kaplan, Greenburg Traurig, New York, NY

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Rockville Office
110 North Washington Street
Suite 406
Rockville, MD 20850

Phone: 301-637-8130
Fax: 301-424-7047
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Washington, D.C. Office
1025 Connecticut Ave NW (By Appt only)
Suite 1000
Washington, DC 20036

Phone: 301-637-8130
Fax: 301-424-7047
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Kundra & Associates, PC
C/o Anmol Sekhir Consultants Pvt. Ltd. Chartered Accountants
3rd Floor, Sahakar Bazar
Opposite Railway Station
Bandra (West), Mumbai 400 050

Phone: 301-637-8130
Fax: 301-424-7047
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