12 Feb IRS ‘HOT’ Issues
What to know when filing your 2021 income tax forms....
John R. Dundon II Tag
05 Feb Compliance Issues for Liquidating Distributions of a Partner’s Interest in a Partnership
What is YOUR exit strategy from THAT partnership?...
24 Jan First Day of Tax Filing Season, the IRS Ogden (Utah) Service Center is Hobbled – IRS Crisis
Posted at 20:34h
in IRS Crisis, Tax Filing Status, Tax Guidance & Preparation, Tax Preparer, Tax Problems & Requests, Tax Reform, Tax Relief
Monday January 24th 2020 was NOT a good first day of tax filing season, the IRS Ogden (Utah) Service Center was Hobbled. Is the stage being set for a proverbial $hit$how over the next several months? Was the IRS campus center housing all those servers hacked? Who...
13 Jan Estate Tax and Legacy Planning Considerations
Estate Tax and Legacy Planning Considerations Now that the Build Back Better (BBB) ‘Framework’ has evidently been shelved there seems to be no better time to contemplate estate tax and legacy plans. Afterall what better time is there? And who wants to give 40% of their...
09 Dec Paycheck Protection Program (PPP) Loans Reporting – Rev. Proc. 2021-48
Posted at 11:21h
in PPP Loan
Forgiveness of Paycheck Protection Program (PPP) Loans Reporting – Rev. Proc 2021-48. Under IRS Rev. Proc. 2021-48, Section 3.01, taxpayers are permitted to treat tax-exempt income resulting from the forgiveness of a PPP loan as received or accrued: as, and to the extent that, eligible expenses...
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 Are Certain Foster Care Payments Taxable? Medicaid Waivers and IRC 131
Posted at 18:24h
in Medicaid Waiver
Are Certain Foster Care Payments Taxable? Medicaid Waivers and IRC 131...
11 Nov Partnerships and Income Tax – Staring into the Abyss of 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!
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
Postings on www.IRS.gov are NOT Necessarily Legal Authority...