IRS Crackdowns and Expatriate Tax Compliance
Feature Article

IRS Crackdowns and Expatriate Tax Compliance

In the past year, the IRS has released new compliance initiatives that target expatriates (expats), specifically. As part of these crackdowns, enrolled agents (EAs) are likely to see a rise in noncompliance notices, passport revocations, and other penalties. While these puni... David McKeegan, EA

S Corporations Rules & Strategies
Feature Article

S Corporations Rules & Strategies

Formation and Requirements A corporation is created under state law and elects S corporation status by timely filing Form 2553, Election by a Small Business Corporation. The requirements under most state laws are that the taxpayer files articles of incorporation, obtain an employe... Anita Robinson, EA

Feature Article

Basis and At-Risk Amounts for S-Corporations

Often, tax practitioners ignore or are unaware of limitations that exist for deducting losses on taxpayers’ returns. Some of the more overlooked areas in this regard are those of basis and at-risk limitations. "is article will shed some light on what may be confusing issues for practitioners dealing with these topics. S Corporation Basis Basis for an S corporation should in theory be easy to determine. An S corporation's sharehol... David Woods, EA