IRS WAIVES PENALTIES FOR FARMERS FISHERMEN

IRS waives penalties for farmers fishermen. In IRS Revenue Notice 2022-13, the IRS issued a memorandum on granting a waiver of estimated tax penalties to qualifying farmers and fishermen, prompted by the inability of some of them to e-file the new Form 7203, S Corporation Shareholder Stock and Debt Basis Limitations., by March 1st. The […]

INDEPENDENT CONTRACTOR OR EMPLOYEE

Independent contractor or employee. This issue comes up with companies that we have dealt with over the last 32 years. Often, companies incorrectly classify an employee as an independent contractor, hoping to avoid payroll taxes and health insurance obligations. This is trend has swept through the ranks of corporate America over the last 30 years […]

TAX RECORDS & DISASTERS

Tax records & disasters. Tax records are vital if you want to recover from a Natural Disaster. I know, as I have spoken to dozens of victims of natural disasters over 28 years in the Tax Resolution Services industry. One common denominator among all of those victims is this, the taxpayers who planned ahead, and […]

CONNECTICUT’S TAXES

Connecticut’s taxes. Per Capita income, Connecticut’s taxes is a mess. It’s pensions are woefully under funded. It’s deficit is projected to surpass $2 billion, or 12% of its total annual revenue. Hartford is approaching bankruptcy. Conservatives look at Connecticut and see a liberal dystopia, where high taxes have ruined the economy. Liberals, on the other […]