LLC Archives | EA Journal

Feature Article

Lessons from a Rogue Revenue Officer

I do not have scientific data to back this up, but my 30 years’ experience has led me to believe that something along the lines of 98 percent of the folks at the Internal Revenue Service (IRS) are ha... John A. Mitchell, EA

Fall 2023, Feature Article, Freedom of Information Act, §7502(f), collection due process, Form 2751, Form 2848, Form 4180, LLC, Letter 1153, Central Authorization File Unit, appeals officer, power of attorney, trust fund recovery penalty, revenue officer, Form 9297, Letter 4020-C, Letter 4020-A, Internal Revenue Manual, IRC §7502(a)

Things to Discuss with Clients at 2023 Appointments

Tax News Briefs

Things to Discuss with Clients at 2023 Appointments

New Beneficial Ownership Information Reporting Rules On September 29, 2022, the Financial Crimes Enforcement Network (FinCEN) issued a final rule implementing the bipartisan Corporate Transparency Act’s (CTA) beneficial ownership information (BOI) r... TheTaxBook

Jan/Feb 2023, Tax News Briefs, Corporate Transparency Act, LLC, CTA, FSA, Small Business Regulatory Enforcement Fairness Act, limited liability partnerships, Identity Protection PIN Opt-In Program, limited liability companies, §125, limited liability limited partnerships, qualified health plan, LLP, QHP, LLLP, Form 15227, Financial Crimes Enforcement Network, beneficial ownership information, FinCEN, BOI

Limited Partners and Self-Employment Tax

Feature Article

Limited Partners and Self-Employment Tax

As tax professionals, we are often given Schedule K-1 forms by our clients in order to report their income and/or losses from their investments in pass-through organizations. How involved are we, ... Keith A. Espinoza, EA

Nov/Dec 2021, Feature Article, §1402(a)(13), Internal Revenue Code, limited liability partnerships, §1402(a)(1)-(17), self-employment, limited liability companies, Revised Uniform Limited Partnership Act of 1976, FICA, limited liability limited partnerships, SE, Form W-2, LLP, employee stock ownership plan, Social Security, LP, ESOP, Form 1040, LLLP, Renkemeyer, Schedule K-1, §1402(b), Form 8275, Schedule 1, Self-Employment Contributions Act of 1954, Form 8082, LLC, SECA, s corporation, Federal Insurance Contributions Act of 1935, Tax Court, limited partnerships

Correcting Partnership Returns After the Centralized Partnership Audit Regime

Feature Article

Correcting Partnership Returns After the Centralized Partnership Audit Regime

Practitioners who make or find errors on a filed Form 1065 for their partnership clients may find themselves in for a bit of a shock when it comes to correcting those errors. Congress passed the Bipartisan Budget Act (BBA) of ... David Woods, EA

Mar/Apr 2021, Feature Article, §6221(a), LLC, Schedule K-1, foreign entity, s corporation, 401(k), disregarded entity, c corporation, TIN, Reg. §301.6221(b)-1(c), nonprofit, Bipartisan Budget Act, Form 1065X, trust, BBA, Form 8988, estate, TEFRA, Form 8978, partnership, Tax Equity and Fiscal Responsibility Act, audit, CPAR, amended, §6221(b), IRA