Most tax practitioners are familiar with reasonable cause as the basis for penalty abatement. But many often overlook another important reason for penalty abatement: the so-called...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/27/2022
Under federal law, employers are required to withhold certain funds from their employee's wages and remit them to the IRS as income and payroll taxes. United States Code Sec. 6672(a)...
Posted by Abundant Wealth Planning LLC on 02/08/2022
If a partnership that has a foreign partner has income related to a trade or business in the United States, a partnership withholding must be reported. This is done by filling out...
Posted by James Financial Services Inc on 01/27/2022
Even the most responsible business owner can fall behind with taxes. Every year, unforeseen delays, expenses, and other financial hardships keep people from paying their taxes to the...
Posted by CORE PERFORMANCE on 12/27/2021
Failure to comply with the tax declaration deadline or non-payment of the entire tax bill can have serious consequences. The Internal Revenue Service (IRS) recommends filing unpaid...
Posted by Taxes Made EZ Inc on 12/18/2021
Starting a new business comes with many upfront tax issues. Let's take a look at some of the tax considerations you need as an entrepreneur when starting a business, including...
Posted by James Financial Services Inc on 11/21/2021
With the tax season just rounded up, everyone wants to know the magic trick to reduce their tax burden. But terms like credits, exemptions, and deductions often have a nebulous meaning...
Posted by Abundant Wealth Planning LLC on 11/04/2021
Usually, when taxpayers receive a notice and are assessed for penalties and interest related to federal income and informative tax returns, they tend to just pay them. Not so fast!...
Posted by James Financial Services Inc on 10/30/2021
Most countries in the world are taking the issue of diversity seriously by checking all aspects of government rules and ensuring no group in society is marginalized. This transformative...
Posted by Tiffany Gaskin on 07/31/2021
