Archived
Would a C.P.A have a fiduciary duty to a trust beneficiary? If millions stolen from trust, would C.P.A not have knowledge?
Kenneth's answer
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Answered on March 28, 2016
The duty of care owed by a CPA depends on the engagement the CPA had with the specific client. For a Trust, the CPA would owe the duty to the...
Archived
Where can I get my employer's EIN for electronic tax filing, being unable to contact my previous employer?
Kenneth's answer
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Answered on March 28, 2016
You could contact the company to obtain the EIN. Tax ID numbers are not released to third parties by the IRS and aren't generally available on...
Archived
Do we as members have the right to inspect this correspondence under Delaware law?
Kenneth's answer
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Answered on March 28, 2016
One would not have an immediate right to the correspondence, however, if a legal proceeding were taking place (i.e., defamation lawsuit), the...
Archived
Is it possible to transfer tax liabilities from a Corp to a LLC? Are tax liabilities attached to personal owners?
Kenneth's answer
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Answered on March 28, 2016
You don't really transfer liabilities from one entity to another. Another entity could assume a prior entity's liability by purchase or merger, but...
Archived
Do I have to report these payments as income on my federal income tax return ?
Kenneth's answer
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Answered on March 23, 2016
You probably are ok with claiming it as a capital contribution. The really important thing is to make sure you document each transaction and hang...
Archived
How I Preparing tax return when working outside the US?
Kenneth's answer
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Answered on March 23, 2016
Someone would need to go over your finances and records to advise you on what tax forms to file exactly. You will definitely file a 1040 or 1040EX...
Is a pastor of a church tax exempt if they win the Lottery?
Kenneth's answer
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Answered on March 23, 2016
You need to have the Church hire professional legal counsel to advise you. What you propose above opens the door to numerous taxes as well as...
Archived
I'd like information on IRS Due Process.
Kenneth's answer
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Answered on March 23, 2016
The IRS has to notify you _in writing_. If there were something wrong, you would have ample opportunity to correct it, go through appeals, Tax...
Can I (LLC with S election) acquire/merge a C Corp and avoid double taxation going forward? If so, how?
Kenneth's answer
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Answered on March 23, 2016
Not without a lot of hassle and expense. Doing a merger with the C-corp will entail either a liquidation of merging in to a non C-corp structure,...
Archived
What can I do to be sure that they received it? Should I send it again by certified mail this time round?
Kenneth's answer
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Answered on March 23, 2016
You can always contact the IRS to see if they have processed the return, the four week deadline is just a suggestion, although keep in mind that...
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