Legal Advice on Business Taxes

If you have tax debt (known as back-tax liability), the IRS may assign your case to a Revenue Officer if one of the following applies: (1) the IRS has been unable to collect the taxes through the... more

Use a commercial carrier with delivery confirmation or USPS certified mail or delivery confirmation. By getting delivery confirmation, you will know immediately when the Internal Revenue Service (“... more

What Specifically does the Internal Revenue Service Require?. Generally, the IRS does not require any records to be kept, provided the taxpayer can truthfully certify on their income tax returns... more

Consequences to Not Observing Corporate Formalities - Loss of Tax Deductions and Limited Liability. Businesses incorporate for two main reasons: tax benefits and limited liability. However, in... more

Charitable Contributions. Any legitimate charitable donation made before Dec. 31 is a deduction for this year. Always get a receipt. At the very least you should have a bank record or written... more

Choose A Reliable Record Keeping System. Any recordkeeping system that is suited to your business or your family that clearly shows your income and expenses will work. Of course, if you are in... more

Don't Panic. Read the letter you received from the IRS carefully. Does it require you to visit with the IRS on a date specific, or does it just require you to provide information? An office audit... more