We’ve helped very prestigious clients and down to earth common folk that ran into problems. We wish we could give you a list with the full names of our satisfied clients but in the tax relief business that just doesn’t happen. Virtually nobody is willing to make their tax problems know...
Rev. Proc. 2022-19 provides clarification for common Subchapter S election issues and provides simplified relief procedures if specific requirements are met. The Revenue Procedure also excludes certain S corporation status issues from being resolved through private letter rulings. Taxp...
Facebook Twitter Comments Print Email By Megan Henney FOXBusinessVideo The IRS unveiled new debt relief options on Monday for taxpayers still reeling from the coronavirus pandemic. Under the new system, taxpayers who still owe money to the government will receive expanded choices for making ...
Internal Revenue Service Commissioner Douglas Shulman testified before the House Small Business Committee, detailing the agency's plans to help entrepreneurs take advantage of tax relief in the stimulus bill and describing the IRS's plan to conduct outreach and education for small firms.rn"Ask any ...
EXECUTIVE SUMMARY * Taxpayers may seek relief under IRS Revenue Procedure 2010-36, which addresses tax implications of corrosive drywall and the resulting economic loss. The procedure addresses what constitutes a deductible casualty loss... K Fava,E Weiss,R Huber - 《Journal of Accountancy》 被引...
to receive a simple status update, much less their long-overdue payment. Many small business owners have simply been left in the dark to wonder when or if their pre-moratorium claims will ever be processed, and some are struggling to continue operating as they wait for this promised relief....
TheIRS announced in late 2020that it will increase tax audits of small businesses by 50 percent in 2021. At a time when many small-business owners are still scrambling to findrelief from the coronavirus pandemic, this is likely the last news entrepreneurs wanted to hear. For...
If you request reasonable cause relief but its records show you qualify for first-time penalty abatement, the IRS will waive your penalty under the first-time abatement program. If you don't qualify for first-time abatement, the tax agency will consider reasonable cause penalty relief. In eithe...
In Rev. Proc. 2007-62 (released Oct. 9, 2007), the IRS has provided a new simplified method for taxpayers to request relief for late S corporation elections. A small business corporation may make an election to be an S corporation at any time during the preceding tax year or at any ti...
Tags: February 3 2025, IRS, major disaster, May 1 2025, tax, tax deadlines, tax relief, taxes, winter weather IRS will accept e-filed business tax returns on Jan. 15 Friday, January 03, 2025 It's ready, set, almost go for tax season 2025. The Internal Revenue Service has set Ja...