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S Corporation Tax Returns: Income Tax Filing Requirements: Form 1120S
Filing your 2024 S corporation tax return on time is crucial. Otherwise, missing the March 15, 2025 deadline can therefore result in significant penalties. This guide will help you understand your...
View ArticleThe Importance of Filing Your Taxes: A Guide for Unfiled Tax Returns
Why Filing Your Taxes Matters Stop IRS penalties for late filing and late payments. The longer you delay, the more these penalties can add up. In addition, interest accrues on any unpaid tax from the...
View ArticleChoosing Your Tax Representative
This year, choosing the “right” Tax Preparer is perhaps one of the most important decisions you’ll make when preparing your taxes. Tax preparers see a lot of personal information from their clients....
View Article12 Things You Need to Know About the IRS Audit
This year we compiled a list of perhaps the most important things you need to know about getting audited by the IRS. The “good news” is that IRS office examinations are perhaps at an all time low. The...
View ArticleIRS Form 1099 MISC Filing Due Date February 1st
Are you a business owner? Did you engage the services of an independent contractor and pay him or her more than $599 in 2015? Are you paying rent? Have you paid an attorney? You may need to prepare and...
View ArticleThe Late Filing Tax Penalty and Late Payment Tax Penalty – What You Need to Know
Did you miss the April 15th income tax filing deadline? If you file your taxes late, you may be assessed tax penalties and interest. The two most common tax penalties are the late filing tax penalty...
View ArticleProperty Management Tax Reporting for Foreign Investors
Property Management Tax Reporting for Foreign Investors. Before agreeing to manage U.S. real property for a foreign taxpayer, a real estate professional or rental agent should discuss with the foreign...
View ArticleForeign Bank Account Reporting
Perhaps, the number one IRS audit risk for many taxpayers will be the failure to report foreign bank accounts. There it is. I said it. Plain and simple. If you have a foreign bank account and you’re...
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S Corporation Tax Returns – Nine Things You Really Need to Know
Here’s Nine Things You Really Need to Know Regarding S Corporations and Income Taxes What is an S-Corporation? An S-corporation is a corporation that makes a federal election to have the federal income...
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The IRS Fresh Start Initiative and IRS Tax Liens
Recent changes to tax collection procedure established by the Internal Revenue Service (IRS) “Fresh Start” Initiative have now made it possible to often prevent federal tax liens or have existing tax...
View ArticleGet the Best Price for Tax Preparation, Get Your Biggest Income Tax Refund,...
Or is it? These are the 3 main reasons people get in trouble with the IRS. Best Price Tax Preparation In the last three days, we acquired three new clients, for each of the three biggest reasons they...
View ArticleChoosing Your Tax Representative
This year, choosing the “right” Tax Preparer is perhaps one of the most important decisions you’ll make when preparing your taxes. Tax preparers see a lot of personal information from their clients....
View ArticleGet the Best Price for Tax Preparation, Get Your Biggest Income Tax Refund,...
Or is it? These are the 3 main reasons people get in trouble with the IRS. Best Price Tax Preparation In the last three days, we acquired three new clients, for each of the three biggest reasons they...
View ArticleProspective ways to make an Offer in Compromise
The IRS or Internal Revenue Service launched the Offer in Compromise program for the best interest of the government and the taxpayer. It supports voluntary agreement with potential tax payments and...
View ArticleNew Relief Provisions to IRS Installment Agreements (Payment Plans) – Fresh...
Taxpayers who can’t afford to pay income taxes often request a payment plan or installment agreement to pay their taxes. An installment agreement is a payment option for those who cannot pay their...
View Article12 Things You Need to Know About the IRS Audit
This year we compiled a list of perhaps the most important things you need to know about getting audited by the IRS. The “good news” is that IRS office examinations are perhaps at an all time low. The...
View ArticleIRS Form 1099 MISC Filing Due Date February 1st
Are you a business owner? Did you engage the services of an independent contractor and pay him or her more than $599 in 2015? Are you paying rent? Have you paid an attorney? You may need to prepare and...
View ArticleWhat is the Obama Care Penalty for 2014 for Not Having Health Insurance?
Obama Care’s individual mandate requires that most Americans obtained health insurance by 2014 or pay a tax penalty (the Obama Care Penalty for 2014). The individual mandate went into effect January...
View ArticleIRS Adopts “Taxpayer Bill of Rights” – Taxpayer Rights
The Internal Revenue Service (IRS) this week announced the adoption of the Taxpayer Bill of Rights. For the most part, there’s really nothing new here. The IRS does not necessarily have the “final...
View ArticleThe Late Filing Tax Penalty and Late Payment Tax Penalty – What You Need to Know
Did you miss the April 15th income tax filing deadline? If you file your taxes late, you may be assessed tax penalties and interest. The two most common tax penalties are the late filing tax penalty...
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