The IRS assesses penalties and interest on the employer's account when they fail to collect, report, and remit payroll taxes. You may be personally liable for failure to withhold...
When starting a business, one of the first decisions you'll face is what type of business to register for. The type of business you choose will affect your taxes, obligations,...
IRC Code, Section 501(c) sheds light explicitly on the critical requirement for a tax-exempt organization. In applying for tax exemptions, firms need first to apply to be recognized...
Many U.S. businesses will face the threat of increased exposure to unclaimed property in 2021 as states and private parties step up audits, litigation, and legislative changes aimed...
Posted by One Stop Taxes on 02/23/2021
Uncle Sam gives taxpayers the allowance to reduce their tax bill with a credit for adoption expenses that qualifies provided one meets some qualification requirements. Form 8839...
Involuntary conversion is the theft or damage of property without the owner's consent, such as partial or total destruction, theft, condemnation, or the sale or exchange of property...
Posted by Flynn Financial Group Inc on 02/16/2021
If you or someone you love is thinking about a viatical settlement, you might be wondering if you have to pay taxes for your payout.Most people seem to believe that all income from...
An overview of the issues of spousal liability in the world of income tax.John and Jane divorced after five years of marriage and two children. Jane got the children, the house, and...
Finding out your business's shape can seem like a chore, as there are many types of businesses to start. A good option is a limited liability company (LLC), which has some of the...