John R. Dundon II Archives - Page 2 of 3 - John R. Dundon II, Enrolled Agent

08 Dec Eight Issues to Watch for as You Prepare to Have Your 2021 Income Tax Returns Filed

Posted at 20:58h in Charitable Contribution, Child Tax, Children, Earned Income Tax Credit, Education Expense, Premium Tax Credit, RMD, Tax Guidance & Preparation

As 2021 comes to a close, eight issues to watch for as you prepare to have your 2021 income tax returns filed: required minimum distributions (RMD); charitable contributions; child & dependent care credit; child tax credit; education benefits; qualified principal residence debt cancellation exclusion; premium...

16 Nov Medicaid Waivers and IRC 131

Posted at 18:24h in Medicaid Waiver

Medicaid Waivers and IRC 131 The intent of this article is to address the extent to which private for profit and non-profit agencies that place individuals in need of foster care in foster homes as well as parents of disabled children may have certain tax reporting...

11 Nov Partnerships and Income Tax – Staring into the Abyss of IRS Form 1065

Posted at 21:08h in 1065, IRS Form 1065

Partnerships and Income Tax - Staring into the Abyss of IRS Form 1065 and its accompanying regulations is a challenge, not for the faint of heart. The first question I always ask partners in on-going partnerships looking for bookkeeping, accounting, payroll and tax prep services is ...

11 Nov IRS Commissioner calls CRISIS!

Posted at 20:06h in IRS, IRS Crisis

IRS Commissioner calls CRISIS! Rettig's editorial in the Washington Post as released by the US Treasury is as remarkably bold as the man himself. He is calling CRISIS! This is BIG and must be repeated. The IRS Commissioner is CALLING CRISIS! Messaging from a Trump appointed 'republican' via a 'liberal rag'...

08 Jun Postings on www.IRS.gov are NOT Necessarily Legal Authority

Posted at 00:00h in IRS Audit, IRS Enforcement, IRS Examination, IRS FAQ

Postings on www.IRS.gov are NOT Necessarily Legal Authority...

07 Mar How much can you deduct for the gently used goods donated to charity?

Posted at 00:00h in Charitable Contribution, Deductible Expense

How much can you deduct for the gently used goods donated to charity?...

09 Feb Business Entity Selection and the Tax Consequences of Converting

Posted at 00:00h in Business Structure, Corporation, LLC, Sole Proprietor, Sub-chapter S

Business Entity Selection and the Tax Consequences of Converting...

18 Jul Foreign Bank Account Reporting (FBAR) – FinCEN Form 114

Posted at 00:00h in Asset Classification, FBAR, Foreign Income, Foreign Investment, Immigrant

Foreign Bank Account Reporting (FBAR) - FinCEN Form 114 FinCEN Financial Crimes Enforcement Network (FinCEN) is a bureau of the Treasury Department. Authorized under the Bank Secrecy Act, foreign bank account reporting commonly referred to as “FBAR” is electronically reported to the IRS via FinCen Form 114 separate and...

Foreign Financial Asset Reporting (FATCA) - Form 8938

14 Jul Lessons Learned Preparing & Defending IRS Form 8938 – FATCA

Posted at 00:00h in FATCA, FBAR, Foreign Income, Foreign Investment, International Tax, Tax Treaties

Foreign Financial Asset Reporting (FATCA) - Form 8938 was enacted March 18, 2010 and requires filing of Form 8938. The FATCA requirement does not replace or otherwise affect a taxpayer’s obligation to file an FinCEN Form 114. Basically if you are a US taxpayer holding foreign financial assets you...

23 Jan Colorado Filing Processes – the Good, Bad & Ugly

Posted at 00:00h in Colorado Department of Revenue, Colorado Income Tax

Mostly Ugly. Colorado is the Wild, Wild West in many things - including taxing authority....

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