by Leif Jensen | Feb 9, 2015 | General |
I was reading an article that was arguing against networking and in favor of building friendships. I believe the writer of the article does not completely understand the purpose of networking. The author is not alone, in the past I have been apart of networking...
by Leif Jensen | Feb 4, 2015 | General |
Private letter rulings and their fees The basic fee to get a private letter ruling from IRS is soaring to $28,300 for requests received by the agency after Feb. 1, 2015. The current levy is $19,000. The charge is much lower for taxpayers with gross income of less than...
by Leif Jensen | Feb 3, 2015 | General |
The IRS took a disabled veteran to court over his claim as a real estate professional. The veteran who owns an apartment house, he lived next door to the building and did all landlord duties. Such as making repairs, hauling trash, communicating with tenants and...
by Leif Jensen | Feb 2, 2015 | General |
In a recent court decision an attorney’s malpractice will not avoid a late filing penalty. An executor diligently hired a lawyer to file an estate’s 706 (why they did not hire a CPA is the true question). Unbeknownst to the executor, the attorney was battling brain...
by Leif Jensen | Jan 28, 2015 | General |
S corporations that file late returns face a stiff fine of $195 for each month late, up to a maximum of 12 months, multiplied by the number of shareholders in the firm. So where a one-owner S company lacked reasonable cause for filing 11 months late, the Tax Court...
by Leif Jensen | Jan 27, 2015 | General |
A tremendous amount of thought and energy is going into a potential way to revamp the corporate tax system. With subsequent changes to the individual tax rates, there is alarm with many experts. It is believed that corporate tax reform needs to be paired with an...
