How to Recover a lost Refund
- January 17th, 2017
- David Greene
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Every year I get several questions about recovering a lost refund. The IRS recently reported that they have about $175 million in undelivered tax refunds. These are for more than 100,000 taxpayers. You may be one of them. The failure…
What documents must be filed with an Offer based on Doubt as to Liability?
- January 11th, 2017
- David Greene
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Before I answer, I want to tell all my readers that the 2017 tax season will officially start on January 23 and the deadline for filing this year in April 18. The Offer in Compromise program is a voluntary program…
Happy New Year
- January 3rd, 2017
- David Greene
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I hope all of my readers had a very nice Christmas holiday and I hope you are looking forward to a New Year filled with hope and promise. To begin, I want to tell all my readers that the 2017…
Business owners: Beware of a new filing deadline for 2017.
- December 28th, 2016
- David Greene
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Most small business owners and sole proprietors who have employees file their own employment and other tax returns. This article is especially for you. In the past employers have been required to issue W-2 forms to their employees by January…
Merry Christmas
- December 20th, 2016
- David Greene
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What does Christmas mean to you? To me it means many happy memories of Christmas past and the anticipation of Christmases present and future spent with my family. My father loved the Christmas season; it was his favorite. He instilled…
What steps can you take to lower your taxes in 2017?
- December 14th, 2016
- David Greene
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There are several questions you can ask yourself when preparing for tax season. (1) For every personal expense you pay, ask “How can I legally deduct this?” If unsure, pass it along to your tax preparer. (2) If you own…
What kind of return does an LLC file?
- December 9th, 2016
- David Greene
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An LLC can file its taxes in one of two ways. When the LLC is formed, the members choose how the LLC is to be taxed. It can be taxed either as an S-Corporation or as a Partnership. In the…
Can the IRS force the recipient of a gift to pay the gift tax when the donor does not?
- December 6th, 2016
- David Greene
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When the donor of a large gift does not pay the gift tax owed, the IRS can seek to have the tax paid by the donee. This usually occurs in the situation where the donor has died without paying the…
Is there any relief from taxes for a late rollover (Part 2)?
- November 16th, 2016
- David Greene
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In my earlier blog I answered that there are new procedures that can be used to get relief if certain criteria are met. They are: (1) An error was made by the financial institution, (2) The distribution check was misplaced…
Is there any relief from taxes for a late IRA or 401K rollover?
- November 1st, 2016
- David Greene
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The general rule is that if you take a distribution, it must be rolled over into another qualified plan within 60 days to avoid taxation and the 10% penalty. There has always been a “hardship” waiver for certain events causing…