October 10, 2011

IRS Extends Filing Deadline For Victims Of Natural Disasters

In an effort to provide relief to those impacted by natural disasters last summer, the IRS has announced that taxpayers who submitted extensions to file their income […]
October 7, 2011

It Seems The Federal Government Has Had Enough Of Medical Marijuana

On Wednesday we posted a blog discussing the recent IRS ruling against medical marijuana dispensaries’ ability to take deductions for payroll, expenses, etc.  Now it appears that […]
October 5, 2011

IRS Rules Against Medical Marijuana Dispensaries

The IRS has ruled that dispensaries of medicinal marijuana cannot deduct standard business expenses such as payroll, security, or rent.  In a ruling against Harborside Health […]
September 29, 2011

IRS Called Upon To Investigate Political Groups

Two campaign finance reform advocates have asked the IRS to investigate the special tax status claimed by four tax-exempt organizations that are expected to play a […]
September 27, 2011

IRS Launches Voluntary Compliance Settlement Program In An Effort To Resolve Past Worker Classification Issues

The IRS has recently announced the launch of its new Voluntary Compliance Settlement Program (VCSP); an effort to enable employers to resolve past worker classification issues by […]
September 26, 2011

Taxpayer Identity Theft On The Rise

Imagine filing your tax return and learning that someone else got your refund by using your name and Social Security number.  It seems that identity theft […]
September 15, 2011

IRS Issues Guidance On Employer Provided Cell Phones

The IRS has recently issued Notice 2011-72 which provides guidance on the tax treatment of cell phones that employers provide to their employees primarily for business purposes.   Section […]
September 13, 2011

The Difference Between Nonprofit And Tax-Exempt Status

Many times we come across individuals who feel that a “nonprofit” and “tax-exempt” entity are the same thing. However, this is not the case and there […]
September 12, 2011

Sale Of A Single Member LLC Presents Special Issues For Buyer And Seller

Generally, unless a single-member LLC elects to be treated as a corporation it will be considered a disregarded entity under the IRS check-the-box regulations. Since the […]
September 8, 2011

IRS Debt Settlement: Offer In Compromise

If an individual has a sizable tax debt, minimum assets and income prospects, and can fulfill the right circumstances, the IRS may accept an Offer in […]
August 30, 2011

How Long Does The IRS Have To Audit Income Tax Returns Or Collect Back Income Taxes?

Many people wonder just exactly how long the IRS has to begin an audit of an income tax return or to collect unpaid income taxes. The […]
August 22, 2011

Payroll Taxes And The Trust Fund Recovery Penalty

If you own a business and have employees then you likely familiar with the requirement to remit payroll tax to the IRS. When an employer pays […]