The simple answer is that an NOL may be claimed on an amended tax return for either or both of the preceding two years or in any of the following...

Can the owner of a single-member LLC be paid as an employee without electing S-corp status, or by using a payroll service?

By default, a single-member LLC is classified as an entity disregarded from its owner for federal income tax purposes. That is, unless the owner...

If II have a payment plan set up with the IRS and have made my payments on time since the beginning

Whether making a transfer or taking a loan makes sense from a tax compliance perspective depends on an individual's history of tax compliance. ...

Does North Carolina have a tax garnishment law from unpaid hospital bills?

Yes, North Carolina permits the garnishment of wages to satisfy certain debts. The North Carolina Department of Labor has published a resource on...

I incorporated in Delaware. I have to file an 83(b) election for vesting with the IRS. What do I do to ensure vesting for all?

Section 83(b) elections are made at the time when property is received, rather than vested. Links to further information are pasted below. ...

The operating agreement of the LLC would normally contain a provision that indicates who the tax matters partner is. This person would be...

The filing of Form 966 is required upon the dissolution of corporations that file their annual income tax return on Form 1120. By default, a...