Business Meals and Entertainment Expenses
Running a business isn't easy.On this blog we have helpful financial information that you will find very useful.
Lance Wallach Expert Witness HOME PAGE ABOUT US CONTACT US SERVICES ARTICLES About Us Lance Wallach, Managing Director, is the nation's leading expert on employee benefit plans, tax problem resolution and IRS audit defense.
Mr. Wallach is a member of the AICPA faculty of teaching professionals & a renowned national expert in many court cases. He is the author of many best selling financial & law books, including:
* "Wealth Preservation Planning" by the National Society of Accountants
* "The CPA's Guide to Federal & Estate Gift Taxation" published by Bisk
* The AICPA's "The team approach to Tax, Financial & Estate planning."
* "The CPA's Guide to Life Insurance" by Bisk CPEasy
* Avoiding Circular 230 Malpractice Traps and Common Abusive Small Businesss Hot spots by the AICPA, author/moderator Lance Wallach Abusive Insurance, Welfare Benefit, and
Retirement
IRS Issues Final Sec. 6707A Regulations
On September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty. It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.Lance Wallach did not author this and you may want to google Lance Wallach for a lot more on point.
Every one of our consulting attorneys, CPAs & ex IRS Agents has over 25 years of professional experience! We believe that no firm has more experienced professionals to assist our clients than we do!!
Seeking Shelter In Tax Shelters?
You might think you could spot a tax shelter a mile away. Sometimes even experienced tax professionals have difficulty. For Lance Wallach, spotting them is no trouble at all.
Tax shelters are defined by the tax code to include any plan or arrangement having a significant purpose of avoiding or evading federal income tax. That sounds incredibly broad, for a huge number of transactions have tax ramifications as a significant purpose! The key is whether the tax ramifications are the reason the person is entering into the transaction.
Lance Wallach
ReplyDeleteExpert Witness
HOME PAGE
ABOUT US
CONTACT US
SERVICES
ARTICLES
About Us
Lance Wallach, Managing Director, is the
nation's leading expert on employee benefit plans,
tax problem resolution and IRS audit defense.
Mr. Wallach is a member of the AICPA faculty of
teaching professionals & a renowned national
expert in many court cases. He is the author of
many best selling financial & law books, including:
* "Wealth Preservation Planning" by the
National Society of Accountants
* "The CPA's Guide to Federal & Estate
Gift Taxation" published by Bisk
* The AICPA's "The team approach to Tax,
Financial & Estate planning."
* "The CPA's Guide to Life Insurance" by
Bisk CPEasy
* Avoiding Circular 230 Malpractice Traps
and Common Abusive Small Businesss Hot
spots by the AICPA, author/moderator
Lance Wallach
Abusive Insurance, Welfare Benefit, and
Retirement
IRS Issues Final Sec. 6707A Regulations
On September 2, 2011, the IRS issued final regulations concerning the section 6707A penalty. Such a penalty is imposed on taxpayers who fail to include any information regarding a reportable transaction which was required to be disclosed. The final regulations follow the statutory language of section 6707A as amended by the Small Business Jobs Act of 2010, but do not give further guidance regarding the Service’s computation of the penalty. It is anticipated that such penalty computation guidance will be issued at a later date.(such guidance is expected by way of regulations that will be issued at a later date). Nonetheless, the final regulations do provide additional guidance concerning rescission of the penalty.Lance Wallach did not author this and you may want to google Lance Wallach for a lot more on point.
Every one of our
consulting attorneys,
CPAs & ex IRS Agents
has over 25 years of
professional experience!
We believe that no firm
has more experienced
professionals to assist
our clients than we do!!
Seeking Shelter In Tax Shelters?
You might think you could spot a tax shelter a mile away. Sometimes even experienced tax professionals have difficulty. For Lance Wallach, spotting them is no trouble at all.
Tax shelters are defined by the tax code to include any plan or arrangement having a significant purpose of avoiding or evading federal income tax. That sounds incredibly broad, for a huge number of transactions have tax ramifications as a significant purpose! The key is whether the tax ramifications are the reason the person is entering into the transaction.