News - John R. Dundon II, Enrolled Agent
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News

Okay this is fun, writing about employee stock options that is. The biggest thing that kicked me in the jimmy as it were was the Alternative Minimum Tax (AMT) obligation associated with Incentive Stock Options that were exercised (converted to stock) but the underlining stock...

The Colorado state Vendor's Fee also known as the sales tax Service Fee has been restored at 2.22%. The fee may be claimed on timely filed and paid Colorado sales tax returns submitted on or after July 1, 2011 beginning with sales tax returns for June...

Regardless of the type of restaurant one fact that is consistent when it comes to IRS audits is that all restaurants have numerous sales transactions with small(er) dollar amounts, taking place in a short time frame, such as during lunch or dinner. Many restaurants, especially...

According to the Internal Revenue Manual Chapter 5.14.2.1.1 a full Collection Information Statement is required for all Partial Payment Installment Agreements (PPIA's). IRS Forms 433A or 433B must be completed to determine the taxpayer’s ability to pay Conditional expenses are not allowed for PPIAs. Only necessary...

According to IR-2011-20 published on Feb. 24, 2011, in its latest effort to help struggling taxpayers, the Internal Revenue Service announced a series of new steps to help people get a fresh start with their tax liabilities. The goal is to help individuals and small businesses...

Complete IRS Form 12153, Request for a Collection Due Process or Equivalent Hearing, or other written request with the same information and send it to the address shown on your lien or levy notice. To request an equivalent hearing, you must check the Equivalent Hearing box on line 6 of...

If you rent a house or condominium to someone in Colorado for less than 30 days sales tax is owed on that rental. Not only that but in order to collect sales tax you must have a Colorado sales tax license. In addition to a license...

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