tax

We Will Make Sure That You Are Treated Fairly By The IRS.

SUMMARY OF STATUTES AND OTHER LIMITATIONS

http://uscode.house.gov/search/criteria.shtml (WEB SITE)

STATUTE OF LIMITATIONS

30-DAY LETTER § 6212 - A LETTER EXPLAINING THAT THE IRS DOES NOT AGREE WITH THE TAXPAYER’S POSITION AND IT NOTIFIES THE TAXPAYER THAT THE TAXPAYER HAS THIRTY (30) DAYS TO START THE APPEAL PROCESS.
(NOTE THIS IS AFTER AN EXAMINATION AND IS PRIOR TO THE ASSESSMENT OF TAX)

By Bob Poeschl, EA

IN THIS SERIES OF ARTICLES WE WILL LOOK AT THE FOLLOWING ENTITIES THAT THE IRS RECOGNIZES FOR TAX PURPOSES.

SOLE PROPRIETORS
SINGLE MEMBER LLC’S
PARTNERSHIPS
MULTIPLE INDIVIDUAL LLC’S
CORPORATIONS “C” AND “S” TYPE
TRUSTS
ESTATES

DEFINITION OF A SOLE PROPRIETOR

1. AN INDIVIDUAL OPERATING A BUSINESS. THIS COULD INCLUDE A HUSBAND AND WIFE. MARRIED COUPLES ARE NOT CONSIDERED PARTNERS AND ARE NOT TREATED AS PARTNERS UNLESS THEY ARE NOT IN A COMMUNITY PROPERTY STATE AND/OR THEY FILE MARRIED FILING SEPARATE RETURNS.

IRS tax negotiation is a way to pay back your taxes on time. This is a process to help the tax payers who are unable to pay back their taxes on time.  The people who have a history of bad credits very well know the importance of debt consolidation loans. For those suffering from bad credits debt consolidation loans are very helpful for them and help them to recover form their deteriorating financial conditions thus helping them to pay off their debts and securing their future. Thus debt consolidation loans for bad credits are regarded to be a life saver.

At the end of tax year most of us owe large amount of money to be paid as tax to the IRS. Most of the people who fail to pay their taxes have the amount of tax of more than a year. Thus whenever we need to pay our due taxes we have to pay huge amounts of penalties and interest along with the taxes which is much more than the original amount and this amount keeps on mounting and ultimately we come under some heavy debts. Some of us have huge debts pending and even IRS debts can’t be paid through bankruptcy.

Modern methods and technologies have really made the business not only a national aspect but truly an international one. A business left unchecked may grow indefinitely and thus lead to unfair advantage over its peers. Also, the investors and shareholders constantly want a correct scenario of the business and are not satisfied by what the managers present to them. Thus, a method called an audit is undertaken, to determine and review a company’s actual standings.