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  • Posted in: Tax Talk

    I agree with Howard and followed this same advise in June. I received the IRS acceptance confirmation last week. I found the important words to be "Reasonable Cause", and "Duty of Care" in my statement...

  • Posted in: Tax Talk

    I assume because of the S corp status, you're concerned about the 1374(d)(7) BIG (Built-In Gains) issue which would trigger the highest rate? The PATH Act (PL 114-113) in December 2015 reduced the...

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    Posted in: Tax Talk

    The rules are very liberal for the allocation. I have a case in which the parent made more income than expected and would have had to pay back some of the subsidy. However, I allocated 100% of the...

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