Most tax practitioners are familiar with reasonable cause as the basis for penalty abatement. But many often overlook another important reason for penalty abatement: the so-called...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/27/2022
We usually leave tax planning until it is the last minute. When you open your to-do list for that day, there it is, the item you've been ignoring for weeks. It says, "Finish...
Posted by Rosovich & Associates, Inc. on 05/27/2022
The real estate planning world, the financial planning world, and parliamentarians considered several significant estates and gift tax changes at the end of 2021. The Biden administration...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 05/10/2022
If you just got married or are getting married soon, it's time to start talking about money with your partner. Super romantic, we know, but listen up: agreeing on money is a key...
Posted by Rosovich & Associates, Inc. on 03/23/2022
The issue of filing tax returns is a complicated process as it is. It's now even worse when you're behind on your tax payments. Well, let's look at how you can take care...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/27/2022
American businesses of all sizes have a number of financial information that must be organized and reported to comply with legal obligations, such as tax requirements. Various professions...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 01/01/2022
An OIC (Offer in Compromise) is a payment option that the IRS makes available to taxpayers. It enables you to pay off your tax debt without "going bankrupt" or "breaking...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/18/2021
When you change your location, many entities need to be updated on such status changes – credit card firms, fitness memberships, magazine subs, etc. There is a big probability...
Posted by Jim McClaflin, EA, NTPI Fellow, CTRC on 12/10/2021
The term accumulated earning refers to a company’s net profits after the payments of dividends have been made. This term is often used interchangeably with others such as; accumulated...
Posted by Rosovich & Associates, Inc. on 11/04/2021
