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S Corporation Compensation & Medical Insurance Issues

Shareholder-employees cannot avoid federal taxes by characterizing compensation as distributions of corporation net income rather than wages. The IRS is … See more

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Reporting Hiring of New Employees to Child Support Enforcement

WEBNew 5/16/02 Missouri statute § 285.300 requires employers to send form W-4 or the equivalent information to the Missouri Department of Revenue within 20 days of hiring …

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Revised UCC Article 9 Security Interest

WEBRevised Article 9 of the Uniform Commercial Code (“UCC” or “Code”) represents the first major change since 1972 and has been sent to the states for adoption. Its …

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"Flow-through" entities for tax purposes

WEBUpdated 9/14/07 Selecting an entity involves many considerations, and one important consideration is tax treatment. See: IRS – Choosing a Business Structure FS …

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Forming a Corporation

WEBSee: IRS – Choosing a Business Structure FS-2008-22 7/22/08 Self-Employed Individuals Tax Center 9/15/08 Articles of incorporation A corporation is …

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Offer in Compromise (OIC)

WEBThe Form 656-B booklet, with forms and instructions for submitting an Offer in Compromise (OIC), is available on IRS.gov. The use of earlier versions will delay the …

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Medical and Dental Expenses

WEBNew 2/19/12 Itemization required You must itemize on Form 1040, Schedule A to deduct qualifying medical and dental expenses. Deduction limited Only the amount that …

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Service members Civil Relief Act (SCRA) of 2003

WEBThe SCRA 50 App. U.S.C. §§ 501-596, replaced the Soldiers’ and Sailors’ Civil Relief Act of 1940. Section 502 sets out the act’s express purpose: The purposes of this Act are (1) to …

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Touring the IRS Kansas City Campus

WEBThe Campus is located in a $330MM Leed certified facility sited on 27 acres in the downtown Kansas City, Missouri area and was occupied by the IRS starting in …

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Checklist of Attachments Required for IRS Form 433-A

WEB(check space for each paragraph or put “N/A” for “not applicable”) ___ Copy of your last Form 1040, income tax return, with all schedules and attachments. ___ Proof of self …

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IRS Launches Direct File Landing Page

WEB2024-01-31 The Internal Revenue Service has taken the first step to initiating its Direct File pilot, and on January 29, 2024, launched the Direct File landing page …

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Innocent Spouse Relief

WEBInnocent spouse relief now falls into 3 categories, each with different requirements: Innocent Spouse Relief (§ 6015 (b)); Separation of Liability (§ 6015 (c)); …

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United States Government links

WEBUpdated 3/20/18 The Federal Web Locator 12/22/06 The Villanova Center for Information Law and Policy (last updated 1995) The Official Business Link to the U.S. …

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What if one spouse owes taxes but the other spouse doesn’t

WEBUpdated 9/5/04. See also, innocent spouse relief and injured spouse relief, and Missouri combined return. Additional complications arise if a taxpayer with outstanding tax …

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IRS collection standards

WEBIRS collection standards were updated effectively April 30, 2020. IRS determination of “reasonable and necessary” expenses The IRS requires you to provide …

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Change by Congress allows employers to obtain both a PPP

WEB2021-01-06. Under the original CARES Act an employer could not receive both a PPP loan and an Employee Retention Tax Credit (ERTC, up to $5,000 per employee).Congress …

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IRS shares 7 warning signs Employee Retention Credit claims may …

WEBIRS Worker Classification 101: employee or independent contractor August 2, 2022 IRS Form 1023 must be submitted electronically online starting January 1, 2020

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