News - John R. Dundon II, Enrolled Agent
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News

An Acceptance Agent is a person or an entity (business or organization) who, pursuant to a written agreement with the IRS, is authorized to assist individuals and other foreign persons who do not qualify for a Social Security Number but who still need a Taxpayer...

When you cannot pay your taxes in full you may be allowed to pay over a prescribed period of time. If full payment cannot be achieved by the Collection Statute Expiration Date (CSED)- USUALLY 10 YEARS, and you have some ability to pay, the IRS...

An abusive tax shelter generally offers inflated tax savings which are disproportionately greater than your actual investment placed at risk. Usually you invest money to generate income or capital appreciation but an abusive tax shelter generates little or no income or capital appreciation, and/or the...

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...

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