Archives for January 2011

Business Non-Filers Beware

Business Non-Filers Beware

Frequent readers of this blog know that we have maintained – ad nauseum, I am sure, for some – that all small businesses should incorporate or operate as an LLC in part because they are less likely to…

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Most Common Federal Tax Crimes

Most Common Federal Tax Crimes

There are a number of possible federal tax crimes with which the United States Department of Justice may charge a delinquent taxpayer. Here are the most commonly brought charges. Failure to File Tax Returns The Law…

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IRS Has Only 10 Years to Collect Tax Debt

IRS Has Only 10 Years to Collect Tax Debt

The IRS has ten (10) years from the date of a tax assessment to collect a debt from the taxpayer. The date the collection statute expires is called the Collection Statute Expiration Date or CSED. When this…

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IRS Audits: Why You Shouldn’t Represent Yourself

IRS Audits: Why You Shouldn’t Represent Yourself

The IRS has the legal right to audit any tax return it so chooses for any reason it chooses. The threat of an audit is what makes most taxpayers take seriously their obligation to comply…

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S Corporations: Compensation and Distribution Planning

S Corporations: Compensation and Distribution Planning

A majority of American small businesses use the S corporation form of doing business. This article discusses one of the main tax planning techniques an S corporation can use to save taxes. The S Corporation…

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