News - John R. Dundon II, Enrolled Agent
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News

US citizens are required to carry minimum essential health insurance coverage beginning January 1st 2014. This is also commonly referred to as the 'individual mandate' and some people are exempt from this individual mandate including: Members of recognized religious sects that are exempt from self-employment...

I have another new client who is a day trader and wow is he good at it! Even though he has another job he makes so much more money as a trader that this ultimately is his primary vocation. The following are a few things...

The IRS has over the last week or so started sending Letter 5036 to small businesses questioning the possible under reporting of income. The letter looks intimidating as it's header states "Notification of Possible Income Under reporting" and starts with "Your gross receipts may be under reported." Rest...

Taxpayers living in Vail Colorado contacted me most recently to represent them in an IRS audited covering tax years 2009, 2010 and 2011 relevant to several small items but specifically to the mortgage interest deduction claimed on Schedule A of form 1040. The taxpayers are domestic...

The following is a compilation of the presentations given at the last IRS Stakeholder liaison meeting as prepared by IRS Senior Stakeholder Liaison Debra Rodgers complete with some very pointed questions and answers. Please pay particular attention to Nancy Carver's remarks concerning implementation of DOMA...

If you are an individual who buys and sells securities you may qualify as a “trader in securities,” for tax purposes. This post attempts to explain how traders must report the income and expenses from being in the trading business. First though it is important to...

The following states recognize same sex marriages:  Connecticut, Delaware, Iowa, Maine, Maryland, Massachusetts, Minnesota, New Hampshire, New York, Rhode Island, Vermont, Washington, and District of Columbia.  In the most recent Supreme Court decisions that I blogged about earlier a great deal of disconnect surrounding the following...

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