Reasonable cause is based on objective facts and circumstances. What constitutes "reasonable cause" under code section 6651 to avoid penalties for failure to file an...
Posted by The TaxAdvocate Group, LLC on 04/06/2021
The country is gradually recovering from the Coronavirus's effects, and the tax deadline has been pushed until May 17th and while we have just over a month to the filing deadline,...
Posted by Tiffany Gaskin on 04/06/2021
The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
Posted by Carmen Garcia on 03/31/2021
The Keogh plan (HR 10 plan) is a tax-deferred retirement plan funded by the employer targeted at self-employed people and businesses that are not incorporated. Distributions to such...
Posted by Tucker Accounting Services LLC on 03/26/2021
The employer shared responsibility requirements under the Patient Protection and Accessibility of Care Act (PPACA or ACA) include the employer's mandate - paid or play- and the...
Posted by James Financial Services Inc on 02/17/2021
What do you do if you receive a notice stating that a revenue officer is investigating your file for probable tax evasion? What will be the first steps to take and who will you turn...
Posted by Daniel P Vigilante CPA and Profit Consultants on 12/21/2020
The IRS expects that all income be reported on an income tax return and may otherwise result in financial penalties and sometimes criminal penalties. However, most penalties can be...
Posted by UNIVERSAL ACCOUNTING & FINANCIAL SERVICES INC. on 12/20/2020
April 15 is normally U.S. Tax Day, which is when personal income tax returns are due with the IRS unless that day is a weekend or statutory holiday. When this is the case, the due...
Posted by CORE PERFORMANCE on 12/19/2020
When you consider the amount of money you have to send to Uncle Sam every month, it might be tempting to forge figures and inflate your tax returns. Intentionally lying on your...
Posted by Tim Thompson CPA PLLC on 08/30/2020
