by Pierre Philantrope | May 31, 2023 | Tax Tip
In Cardiovascular Center LLC v. Commissioner of Internal Revenue Service, the Tax Court had to determine the employment status of the workers at cardiovascular Center, LLC pursuant to IRC section 7436. In a Notice of Employment Tax Determination of Worker...
by Pierre Philantrope | May 24, 2023 | Tax Tip
Business Owners Can Hire their Children to Lower their Tax Liabilities Summer is coming! If you have not taken advantage of the tax benefit of hiring your kids because you want them to focus on their school activities, why not change your focus to get a huge tax...
by Pierre Philantrope | May 10, 2023 | Tax Tip
There are many ways to resolve a tax debt. We discussed several of them in previous tips. on this tip, we turn to Offer in Compromise (OIC). Taxpayers could consider applying for an Offer in Compromise when paying the full tax due could cause financial hardship. An...
by Pierre Philantrope | May 3, 2023 | Tax Tip
The Internal Revenue Service will send notices to taxpayers in many situations after filing a tax return, when they did not file, when they did not pay, or when they fail to deposit (TFR- Trust Fund Recovery). Unfortunately, many taxpayers ignore the notices to their...
by Pierre Philantrope | Apr 26, 2023 | Tax Tip
Taxpayers are liable for every position taken on their tax return. You take a position on the return by reporting certain items of income and taking some deductions. When a taxpayer signs the return, the taxpayer attests under penalty of perjury that the statement...
Recent Comments