News - John R. Dundon II, Enrolled Agent
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Here is the hard part, to qualify: 1. The corporation must have ceased business operations and must have neither assets nor income for the tax year. 2. The exemption request must be submitted to the local IRS Insolvency office handling the case. For the appropriate address to...

When an individual files a bankruptcy petition under chapter 7 or 11 of the bankruptcy code a bankruptcy estate is established. The bankruptcy estate is treated as a separate taxable entity. If a trustee is appointed, the trustee is responsible for preparing and filing the...

According to IRS Publication 501, Exemptions, Standard Deductions and Filing Information. a dependent qualifying relative can be any person who lives with you all year, is not a qualifying child of another taxpayer, and someone for whom you provided over half of his or her support whose gross...

After it was learned that thousands of identity theft 'Information Referrals' reported on IRS Form 3949‑A were not being processed the Treasury Secretary General for Tax Administration (TIGTA) investigated and published a report (#2012-40-106) essentially stating that the "process for individuals to report suspected tax law violations is...

I have a client who failed to file 1099-misc for contract labor and am dealing with an examiner who denied all contract labor expenses because of a lack of IRS Form 1099-MISC back to 2007 even though an audit trail exists substantiating the expense. So the Service's...

I've worked with many good people inside the IRS on a wide variety of cases. So please do not get me wrong I'm not bashing ALL IRS employees. However like any big bloated bureaucracy I've also worked with some real shit heads inside the IRS...

A taxpayer came to me today for verification on dependent care expenses. Their basic profile may be similar to yours. A husband and wife with two children in day care. The wife is a full time student that does not work outside of the house....

A new client came to me this week - husband/wife - filing a joint tax return.  Their son a full time 21 year old student with some earned income but not enough to provide for over one half of his own support. The son meets...

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