Tax Guidance & Preparation Archives - John R. Dundon II, Enrolled Agent
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Tax Guidance & Preparation

24 Jan

Posted at 20:34h in IRS Crisis, Tax Filing Status, Tax Guidance & Preparation, Tax Preparer, Tax Problems & Requests, Tax Reform, Tax Relief

Monday January 24th 2020 was NOT a good first day of tax filing season, the IRS Ogden (Utah) Service Center was Hobbled. Is the stage being set for a proverbial $hit$how over the next several months?  Was the IRS campus center housing all those servers hacked? Who...

08 Dec

Posted at 20:58h in Tax Guidance & Preparation, Charitable Contribution, Child Tax, Children, Earned Income Tax Credit, Education Expense, Premium Tax Credit, RMD

As 2021 comes to a close, eight issues to watch for as you prepare to have your 2021 income tax returns filed: required minimum distributions (RMD); charitable contributions; child & dependent care credit; child tax credit; education benefits; qualified principal residence debt cancellation exclusion; premium...

27 Jun

Posted at 00:00h in Foreign Tax Credit, Alien, Foreign Income, Foreign Investment, FTC, International Tax, Tax Credit, Tax Guidance & Preparation

Foreign Tax Credit (FTC) A Drill Down into IRS Form 1116.  With all the political rhetoric about borders and boundaries circulating these days by 'news media' outlets the fact of the matter is US Taxpayers are increasingly working and living abroad everyday. With that taxpayers and tax...

02 Apr

Posted at 00:00h in Extension, IRS Penalties, Tax Guidance & Preparation, Tax planning, Tax Problems & Requests

Remember your US Income Tax extension request is ONLY for additional TIME to FILE your tax forms, your income tax payments, estimated or otherwise, are still due April 18th 2016. Most US Taxpayers forget that income tax payments are due in April, even if an extension request for more time to...

07 Jan

Posted at 00:00h in DIY, Enrolled Agent, IRS Collections, IRS Criminal Enforcement, IRS Enforcement, IRS Examination, IRS Mediation, IRS Penalties, IRS Penalty and Interest Abatement, ITIN, Licensed Tax Professional, PATH Act 2015, Paying Taxes, Penalty, Tax Abuse, Tax Court, Tax Credit, Tax Fraud, Tax Guidance & Preparation, Tax planning, Tax Preparer, Tax Problems & Requests

Protecting Americans from Tax Hikes Act of 2015 (PATH) summarized by my friend Shirley Callahan EA. Some highlights include: Everyone will appreciate the permanency of the enhanced Educator Expenses, the Sales Tax deduction, and the R&D Credit. Section 179 is made permanent at $500,000 phasing out at...

08 Jun

Posted at 00:00h in Employment Tax, Entity Classification, Paying Taxes, Payroll Tax Problems, Penalty, Small Business, Social Security, Social Security Tax, Sole Proprietor, Start up costs, Sub-chapter S, Tax Abuse, Tax Guidance & Preparation, Tax Problems & Requests

Many entrepreneurs get caught up in selecting the "most appropriate business structure" - particularly people planning to conquer the moon right out of the gate. If this is you beware as business structure is a determination that is best driven out of operational efficacy. Why? Most all new...

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