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
Under federal law, employers are required to withhold certain funds from their employees' salaries and remit them to the Internal Revenue Service in the form of income and payroll...
Posted by Income Taxes and Bookkeeping LLC on 08/15/2021
Forensic accounting is investigating fraud or financial manipulation by conducting very detailed investigations and analyses of financial information. Forensic accountants are often...
Posted by Pat Raskob on 07/31/2021
Taxes on trust funds can create big problems for small businesses. When an employer withholds part of an employee's salary to pay income tax, health insurance, and social security,...
Posted by Taxes Made EZ Inc on 05/19/2021
It is no longer possible for the 2018-2025 fiscal years to claim accidental loss and personal property theft as itemized deductions unless your claim is declared as a federally declared...
Posted by Rosovich & Associates, Inc. on 02/05/2021
Direct payment bonds have always encouraged investment in infrastructure in times of economic uncertainty. Unlike traditional municipal bonds, interest on direct payment bonds is taxable,...
Posted by BEST FINANCIAL GROUP LTD on 11/25/2020
Working and getting tips are tough, but regulations on tips and taxes can make life even more difficult if you don't know what to do. Some tax software can help, but it is best...
Posted by James Financial Services Inc on 10/01/2020
Small businesses that have employees must collect taxes from their employees whenever the employer issues a paycheck. These funds then go into a trust fund account that employers use...
Posted by Income Taxes and Bookkeeping LLC on 01/06/2016
