28 Years Of Positive Results
Uncle Sam, the posterchild for the U.S. government and its agencies, brings visions of a strong and demanding force. The Internal Revenue Service (IRS) projects much the same image. This federal agency expects all taxpayers — individuals and businesses alike — to meet...
Reasonable Cause, First Time Abatement, Reliance on a Professional, Exercising Ordinary Care and Prudence A live 110-minute CPE webinar with interactive Q&A Thursday, December 1, 2022 (in 2 days) 1:00pm-2:50pm EST, 10:00am-11:50am PST (Alert: Event date has...
Employment Taxes & Protecting the Business Owner from Personal Liability. We will discuss best practices, speak about increased IRS scrutiny on both the civil and criminal sides, how to avoid paying your company’s taxes personally and what to do when you are over...
President Joseph Biden recently signed the Inflation Reduction Act into law, which, along with many other changes, led to an influx of funding for the Internal Revenue Service (IRS). Treasury Secretary Janet Yellen states that the agency is set to get almost $80...
In (IR 2022-162, 9/21/2022; Chief Counsel Advice 202237010) the IRS noted that many PPP loan recipients who received loan forgiveness were qualified and used the loan proceeds properly to pay eligible expenses. However, the IRS has discovered that some recipients who...
Expansion of Membership Permissible: IRC 501: The IRS accepts the Voluntary Employees’ Beneficiary Association Plan (“VEBA”)'s proposal to expand its eligible membership to include all former employees. It does not matter if said former employees was a member of VEBA...
The Internal Revenue Service (IRS) recently announced that it will provide penalty relief to qualifying taxpayers who filed late taxes for the 2019 and 2020 tax years. The agency explained that the move is part of the agency’s broader plan to use recent funding to...
No one wants to find themselves in arrears with the government, let alone for a significant amount. Thankfully, those who find themselves owing a large sum to the Internal Revenue Service (IRS) may find that they have more options to pay their bill than those who owe...
Our tax system is based on the expectation that taxpayers pay their tax bills. A failure to voluntarily comply with tax obligations can result in fines, penalties, and even potential imprisonment. Those who have failed to comply in the past and want to come into...
When Your Client is Closing its Doors for Good & the IRS: File a final tax return and related forms are Required for the year everything is closed. Employees Must be paid their final wages/compensation and federal tax deposits must be made in the year of last...
