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Posts Tagged ‘1120S’

Update on S-Corporation Failure to File Penalty

Posted in S-Corporations, tagged , , , , , , , on August 14, 2009 | 3 Comments »

I had previously discussed this issue in my 1/22/09 post entitled “S-Corporation Failure to File Penalty”, but there have been so many comments and updates since January that I felt I should post a formal update.  It is an important issue now that the the first few rounds of IRS abatement request responses have been [...]

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S-Corporation Failure to File Penalty

Posted in S-Corporations, Tax Acts and New Tax Laws, tagged , , , , , , , , on January 22, 2009 | 12 Comments »

Back in December of 2007, the 110th Congress passed HR4351 or the “AMT Relief Act of 2007″, which was the aftermath of the showdown regarding alternative minimum tax that I posted about at the time.  The bill had a lot of small print regarding new revenue raisers – one in particular: Sec 223 regarding failure [...]

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Incorporation Breakeven Point?

Posted in S-Corporations, tagged , , , , , , , , on July 7, 2008 | 1 Comment »

In talking with non-incorporated small business owners that are not clients of our firm, I often ask why they have not formed an S-Corporation for their business.  A common response I have been hearing is that their accountant or CPA told them that they had not reached the “breakeven point” for incorporating.  Some have even [...]

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