Debbie H. asked
How should an uncollectible Note Receivable from a deceased shareholder in an S-Corp be handled, especially when the note lacks valid terms and interest, and the S-Corp has missed the deadline to file a claim with the estate?
October 5th, 2023
Jeremy H. answered
The uncollectible Note Receivable should be treated as a bad debt for the S-Corp if it was a valid l...
October 5th, 2023
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I'm trying to set up an EIN number for my single member LLC, which is owned by an S Corp. The LLC will have employees and act as a full service restaurant. The IRS system is not allowing the EIN to go through, and the LLC is showing me individually as the sole member, which is not the case. How should I proceed?
April 24th, 2024
Is it considered negligence or fraud to not report changes in income to exchanges for individual insurance subsidies, and what penalties might I face if my subsidy was supposed to be smaller or non-existent? Additionally, how would the IRS treat the situation if I don't change my income for the next ACA individual insurance year, even if I know my income is likely to be higher?
June 3rd, 2023
How do I amend and get a refund from the IRS due to a newly hired preacher having signed a form 4361 at his previous job yet failing to inform the church of Grand Junction that he was claiming exemptions on SS and Medicare. Those items were withheld on a bonus check in 2014 and 3 quarters of 2015. How do I amend the 941 and get the refunds?
August 4th, 2023
How do I correct a filing date mistake on my corporation tax return for Form 1120, where the IRS has stated I used the wrong filing date, and how do I determine the correct filing dates for subsequent years?
February 1st, 2024
Can I deduct medical expenses that are reimbursed with tax-free per diem long-term care reimbursements on my tax return?
July 8th, 2023
