You need to pull Wage & Income transcripts for all years (probably 3 or 4) and see what is in the 5498s ------------------------------ Steve Odem EA, IRS CAA, Australian Tax Agent, NTPI Fellow firstname.lastname@example.org...
Bill, check out FIRPTA - Foreign Interests In Real Property Tax Act. I encourage such clients to list it for rent for a week or so at an outrageously high rent such as Craigs List, then pull the listing,...
IRC 368 has been in the law for many years, long before LLCs.
I agree with the attorney's bottom line but he skipped over some pieces.
For IRS purposes, an LLC taxed as a corporation is a corporation...
ClientRelate customers who have run the search associated with the Small Business Inventory Exception Service can send this letter to clients appearing on the search results list. (09/20/2016)
Update: To address questions received after W&I Commissioner Debra Hollands’s presentation at the NPL Practitioner meeting last week, the IRS has added a PDF document – Answers to Follow-Up Questions – to Important Update about...
IRS Definition of a Farm
IRC Section 2032A(e)(4): The term “farm” includes stock, dairy, poultry, fruit, furbearing animal, and truck farms, plantations, ranches, nurseries, ranges, greenhouses or other similar structures used primarily...
This post provides a brief overview of computing the effective tax rate and how certain business deductions/credits can significantly reduce the Effective Tax Rate to maximize business tax incentives. For a complete overview, tune in to the NSA Webinar...
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