News - John R. Dundon II, Enrolled Agent
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News

The Internal Revenue Service issued new guidance to make it easier for small businesses to determine whether they are eligible for the new health care tax credit under the Affordable Care Act and how large a credit they will receive. The guidance makes clear that...

A retired widow who enjoys playing the slot machines became a regular patron of a casino, and traveled there with friends every other week or so during 2004. Normally the widow would spend at least eight hours at the casino and then return home....

Currently Not Collectible means that a taxpayer has no ability to pay his or her tax debts. The IRS can declare a taxpayer "currently not collectible," after the IRS receives evidence that a taxpayer has no ability to pay. Such evidence is usually obtained from...

One good reason to use a professional tax preparer to do your taxes may be the cautionary tale that appeared the other day in a Washington State newspaper. The Kitsap Sun reported that a Bremerton woman told police there that an older friend who prepared her...

The Hiring Incentives to Restore Employment (HIRE) Act, which was signed into law on March 18th, 2010 provides tax incentives for hiring and retaining workers and purchasing equipment and many other business assets. It also includes new measures that heighten disclosure and reporting requirements for...

There is no standard form available for an application for a Certificate of Discharge of Property from a Federal tax lien. This makes the application a type written letter. Submit your request and all accompanying documents in duplicate to the IRS, Attention Technical...

The purpose of this audit techniques guide (ATG) is to provide guidance for the examination of income in a cash intensive business. This guide can be used during all phases of the examination but is not all-inclusive The accurate reporting of income and expenses by cash...

Filing and Paying on Time Saves MoneyIf you have a balance due and do not pay by April 15, you are subject to a failure-to-pay penalty. If you cannot complete your return and file it by April 15, you may request an extension of time...

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