When filing an 1120X to amend a return and do an NOL carryback, should the total deductions in the 'Originally Reported' column include the previous NOL amount from the original return, and should the current NOL (being carried back) be part of the deductions total in the 'Correct Amount' column?

July 1st, 2024

I have intangible and tangible drilling expenses that my accountant didn't include on my tax return. What information should I provide to my accountant, and how should these expenses be reported?

March 25th, 2024

My deceased mother received a letter from the IRS stating she did not file taxes for 2009. I have the letter since my mother passed away in December of 2009. I am unsure about what to do.

June 9th, 2024

I am an American living in Central America, working as a business consultant with American clients. My wife, a foreign national, established a Belize corporation which then opened a Florida LLC. I receive payments from clients into the LLC's bank account, which is a pass-through entity for the Belize corporation. My wife pays me a salary, which I plan to declare on my tax return, keeping my income below $100,000 to avoid U.S. tax obligations. Is this structure legal and can it avoid IRS scrutiny for tax avoidance?

September 17th, 2023

I need to obtain a copy of our corporate CP-575 form that authorized our new corporation to use tax ID 26-0019799 for Facchiano & Associates PC located at UE 265 Cherryvale Mall, Rockford, IL 61112. How can I get this form or an alternative verification?

November 14th, 2024