5472 Penalty Reasonable Cause Excuse
Tax News You Can Use Have you received a $25,000 penalty for not filing a Form 5472 or filing it incorrectly? Maybe we can help. If a...
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johnmmatrascpa
- Dec 23, 2022
- 2 min
Form 706-NA Estate Tax for Nonresidents not Citizens of the United States
Have over $60,000 in US assets? Then your estate will need to file a Form 706-NA and pay a tax ranging from 18-40% Form 706-NA, or the...
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johnmmatrascpa
- Dec 23, 2022
- 1 min
What is a Form 1042-S?
Tax news you can use Form 1042-S is a tax form used by the Internal Revenue Service (IRS) in the United States to report income tax...
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johnmmatrascpa
- Sep 11, 2022
- 4 min
Business Entity Types
Tax News You Can Use Partnerships, S-Corps and Corps S-corps and Partnership tax structures were designed for small businesses. These two...
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johnmmatrascpa
- Aug 25, 2022
- 1 min
IRS provides broad-based penalty relief for certain 2019 and 2020 returns due to the pandemic
Tax news you can use To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service today issued Notice...
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johnmmatrascpa
- Aug 24, 2022
- 2 min
Inventory and foreign related businesses
Tax news you can use Here are a few guidelines when asked about inventory pricing and transfers between related companies, especially...
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johnmmatrascpa
- Aug 24, 2022
- 4 min
5472 The not so pleasant surprises
Tax news you can use It is early December and after all your research you decide to incorporate your business in the United States. You...
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johnmmatrascpa
- Aug 24, 2022
- 2 min
Failure To File
Tax News you can use Behind on filing… In most cases your need to file a tax return of some sort. Failure to File (FTF) penalties are the...
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johnmmatrascpa
- Aug 24, 2022
- 1 min
Form 1099
Tax news you can use Form's 1099NEC and 1099MISC The 1099 form requirements have been simplified below. This is an area of increasing...
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johnmmatrascpa
- Aug 24, 2022
- 1 min
Increased Mileage Allowance
Tax news you can use.... The Internal Revenue Service announced an increase in the optional standard mileage rate for the final 6 months...
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johnmmatrascpa
- Aug 24, 2022
- 1 min
Club Dues
Tax news you can use... The deductibility of dues to golf clubs, boat clubs, flying clubs and similar clubs is an often asked question....
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johnmmatrascpa
- Aug 24, 2022
- 1 min
Crypto Crash Tax Consequences
Tax News You Can Use... It is clear that losses from Cryptocurrency transactions can be offset against other capital gains incurred...
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johnmmatrascpa
- Aug 24, 2022
- 2 min
Do I qualify for Research and Development Credits?
Tax news you can use... Do not think of research and development in the classic sense of people in white coats tinkering with test tubes...
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johnmmatrascpa
- Aug 24, 2022
- 2 min
Another State penalty notice!
Here is tax news you can use.... It seems not a day goes by when a potential new client comes to us with a penalty notice from a state....
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johnmmatrascpa
- Aug 24, 2022
- 1 min
1099 payments mid year check up.
Tax news you can use.... We all went through the scramble of collecting the information to file 1099's in January. As a refresher...Under...
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