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Why You Should File Your Taxes On Time

Why You Should File Your Taxes On Time

Make sure you file your taxes timely. If you do not you are on the IRS radar, and they start collection action against you. They will send you letters which should not be ignored. The problem just doesn’t go away until you file your taxes.  Please be sure you file an...
How to Get IRS Penalties Removed

How to Get IRS Penalties Removed

You get a letter from the IRS and it says you owe a penalty for various reasons. The IRS is really good at sending out those letters. Assessing penalties is part of their job actually. However many times it is an untrained unsupervised IRS employee who generated the...
What is Reasonable Compensation for an S Corp? 

What is Reasonable Compensation for an S Corp? 

So, you got tired of being a Schedule C sole proprietor and paying all that self-employment tax! So, you formed an S Corporation and now you have no self-employment tax. You just take draws from the corporation so no self-employment tax. What is wrong here? Have you...
How to Get IRS Penalties Removed

What is an IRS IP PIN?

The IRS has instituted a new tactic to add to your confusion and pressure. The IRS is sending out special IP PIN numbers to specific taxpayers. You must have this IP PIN letter to e-file your tax return. Otherwise, you are forced to mail in your tax return to the IRS....