There are few things that can send a chill down your spine more than mail from the IRS. If you open the mail to find a CP2000 notice inside, don’t panic.
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An S corporation can provide tax advantages over a C corporation in certain circumstances. Do you expect the business will incur losses in its early years?
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President Biden released his “American Rescue Plan” on January 14. It is a wish list of proposals to address the COVID-19 pandemic and economic crisis.
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In late January, the IRS updated Notice 2020-65. The update reflects the changed tax deferral rules contained in the Consolidated Appropriations Act (CAA).
Taxation of partners and partnerships can stump you. In a given year, you may pay taxes on more partnership income than you received from the partnership.
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