by Leif Jensen | May 8, 2011 | General |
The Illinois Small Business Job Creation Tax Credit gives small business owners an extra boost to grow their business over the next year. After creating one or more new, full-time positions that meet the eligibility requirements, small businesses can register here to...
by Leif Jensen | May 8, 2011 | General |
On May 18th, the Illinois CPA Society (ICPAS) has its annual Estate and Gift Tax Conference. As a purely biased member of the committee that plans this event, I strongly encourage any one who deals with these issues to attend. We have Susan Bart , Elliott Friedman ,...
by Leif Jensen | May 2, 2011 | General |
The Internal Revenue Service paid a slew of bogus claims for the homebuyer’s credit, according to Treasury inspectors. They uncovered payments for the credit to filers who reported buying a house before the credit took effect and to taxpayers who listed post office...
by Leif Jensen | May 2, 2011 | General |
It appears that the IRS can not grab an LLC’s assets for taxes owed by its sole member, according to the agency. Even if a one-member LLC is disregarded from its owner for federal tax purposes, that status does not apply for tax collection purposes because the member...
by Leif Jensen | May 1, 2011 | General |
How difficult is it for someone to get your bank account information from your company? If someone calls up stating that they want to wire money into your company’s bank account will your people give them all the information they need? Will they let them know which...
by Leif Jensen | May 1, 2011 | General |
Bad news for entities that are disregarded for federal tax purposes: Owners must be bankrupt or insolvent to exclude income from waived debts, proposed IRS rules say. Some solvent taxpayers claimed they could use the exclusion if their disregarded entities were under...
