The rules that determine proper filing status need to be reviewed closely or you could receive a letter assessing an unexpected tax liability. Married filing joint (MFJ) verses married filing separately (MFS) status was the subject of a recent tax court case.These two...
You may have already heard that it is sometimes possible to settle your tax debt for less than the full amount that you owe.What you heard is correct, through a procedure called offer in compromise (OIC). But as with so many things in life, the devil is in the...
If an Illinois company doing business in Washington State has its way, the Supreme Court may be forced to decide at what point retroactive taxation provisions becomes unenforceable. The case at issue involves an Illinois company, Dot Foods, and its business...
It was recently National Small Business Week. The IRS thus highlighted some tax topics relevant to small business owners.Are you just starting out in business with operations currently run out of your garage or a recently finished basement? Maybe you have been in...
As a bar or restaurant owner, you know that taxes are a big concern. In terms of maintaining a healthy business, staying in compliance with all the requirements may rank right up there with pleasing your customers as a key to success.In this post, we will use a Q...
