FINDING A COMPANY STATUS AND TAXES

Finding a company status and taxes. We have dealt with a multitude of companies who fell behind on their taxes due to incorrectly filing for the proper status when they started the company. Several of these companies, painfully, found out the only way to fix the IRS debt they owed, was to re-file what they […]

DETAILS OF TAXING THE RICH

Details of taxing the rich. After campaigning on the promise to tax the rich to pay for more programs to advance social programs, President Biden President is doing just that. President Biden’s ambitious spending plans would significantly increase what the federal government lays out for childcare and education and spend trillions more on infrastructure. It […]

SURPRISE TAX BREAK IN NEW RELIEF BILL

Surprise tax break in new relief bill. The coronavirus pandemic has brought the global economy to its knees, and lawmakers in Washington are pulling out all the stops to find ways to support hard hit Americans. Even after three rounds of legislation to stimulate the U.S. economy, there’s been discussion of still more proposals to […]

FEDERAL COURT REJECTS REPORTING CHANGE

Federal court rejects reporting change. In our ongoing series of articles designed to cover any Tax Court issues, we need to mention that the IRS no longer wishes to require tax exempt organization to report information about their substantial financial donors. It must follow a proper notice and comment process, a federal court in Montana […]

ROTH 401K FOR IRS TAXES

Roth 401k for IRS taxes. If you are looking forward to a retirement spent paying hefty tax bills, a trend called the Roth 401 K has developed to help buy your ticket to happiness. Once you turn age 70 and a half, you are forced to start taking money out of your retirement plan, the […]