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  • +4

    IRS to start regulating paid tax preparers

    IRS to start regulating paid tax preparers
    WASHINGTON - The Internal Revenue Service plans to start regulating paid tax preparers, requiring them to register with the government, pass competency tests and adhere to ethical standards. The new regulations, announced Monday, will not be in effect for the current filing season - individual tax returns are due April 15. But IRS Commissioner Doug Shulman said tax preparers will be ...
    Rated: +4
  • +1

    Filing Requirements for Filing Status Change from a "C Corp" to an "S Corp"

    Filing Requirements for Filing Status Change from a "C Corp" to an "S Corp"
    C Corporation Requesting a Change to File as an S Corporation In an effort to more accurately receive and process returns from taxpayers who are requesting to change their filing status from a C Corporation (filing Form 1120) to an S Corporation (filing Form 1120S), the Internal Revenue Service recommends that taxpayers follow the steps below and use the following form. ...
    Rated: +1
  • +4

    Series LLCs: Pros and Cons of a Growing Trend

    Series LLCs: Pros and Cons of a Growing Trend
    Eight states allow the formation of series LLCs (Delaware, Illinois, Iowa, Nevada, Oklahoma, Tennessee, Texas and Utah). A series LLC consists of a “master” LLC with one or more series of members, managers, interests or assets. Although contained within the master LLC, each series can have separate rights, powers and duties with respect to specific property and liabilities and can have ...
    Rated: +4
  • +6

    Business Entertainment: What Can You Deduct?

    Business Entertainment: What Can You Deduct?
    NEW YORK – Taking a client out for lunch is one of the most basic business activities there is. And it's one that can run a small business owner afoul of the IRS. There has been a tug of war for years between the government and businesses over entertainment expenses. The agency is on the lookout for companies that take excessive ...
    Rated: +6