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Estimated Income Tax Payments

The Perturbing New Treatment of Patents Under the Tax Cut & Jobs Act (TCJA)

Estimated Income Tax Payments Due

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IRS Form 7004 Automatic Extension of Time To File Certain Business Income Tax, Information, and Other Returns.

If your corporation, partnership or estate operates on a calendar year basis the tax return is due March 15th which is coming up! If you need additional time to file tax returns for these entities file IRS Form 7004 which

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Posted in Corporation, Estate Tax, Estimated Taxes, Excise Tax, Extension, Paying Taxes, Penalty, Sub-chapter S, Tax Guidance & Preparation, Tax Relief, Trusts

Paying Estimated Taxes IRS Form 1040-ES

Business Entity Selection and the Tax Consequences of Converting

As a general rule, you must pay estimated taxes if both of these statements apply: 1) You expect to owe at least $1,000 in tax after subtracting your tax withholding (if you have any) and tax credits, and 2) You

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Who Should I Hire To Do My Taxes?

Business Entity Selection and the Tax Consequences of Converting

We all know there are good and bad people everywhere, both inside the IRS and in the tax practitioner community alike.  Routinely readers of this blog report specific and egregious allegations of tax practitioner misconduct in violation of United States

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Posted in Estimated Taxes, PTIN, Tax Abuse, Tax Fraud, Tax Guidance & Preparation, Tax Preparer, Tax Relief, Taxpayer Advocate

Taxable and Non Taxable Settlements

I've been getting quite a few calls lately from taxpayers that have received 'settlement' money and are confused over the prospective tax ramifications of receiving such money.   The Internal Revenue Service recognizes that receiving a settlement award (amount) from

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Posted in Capital Gain, Capital Loss, Casualty Loss, Estimated Taxes, Tax Fraud, Tax Guidance & Preparation, Taxable Income

Tax Strategy Patents + Patent Applications

I am opposed to all tax strategy patents.  They are bad public policy and harmful to taxpayers and their advisers.  No one should have a monopoly on part of the tax code and no taxpayer should be subject to paying

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Posted in Abusive Tax Shelter, Colorado Department of Revenue, Estimated Taxes, IRS Appeal, IRS Audit, IRS Collections, IRS Enforcement, IRS Examination, IRS Levy, IRS Lien, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, Private Letter Ruling, Tax Abuse, Tax Problems & Requests, Tax Relief, Tax Whistle Blower

You May Have to Pay Estimated Taxes if …..

According to IRS Publication 505 you may have to pay estimated taxes if you are self-employed and have income other than your salary or you receive income that is not subject to withholding, such as: Self-employed income Rent Interest Dividends Alimony

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Paying Estimated Taxes IRS Form 1040ES IRS

IRS Form 1040ES, Estimated Tax for Individuals, provides all you’ll need to pay estimated taxes. This includes instructions, worksheets, schedules and payment vouchers. Another good source for information is IRS Publication 505, Tax Withholding and Estimated Tax You may need to pay estimated

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Tax treatment for your children

Got Kids? They may have an impact on your tax situation. Listed below are the top 10 things the IRS wants you to consider if you have children. Dependents In most cases, a child can be claimed as a dependent

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Posted in Adoption, Child Tax, Children, Earned Income Tax Credit, Education Expense, Estimated Taxes, Gift Tax, Refundable Tax Credit, Student Loan, Tax Credit, Tax Deductible Expenses, Tax Guidance & Preparation, Tax Relief, Uncategorized
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