Category: Tax Representation
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Missed the S Corp or Partnership Extension Deadline? Here’s What Happens Next
Missing the extended Form 1065 or Form 1120-S filing deadline triggers a per-owner monthly penalty and a CP162A notice. This piece explains why filing immediately matters, and why relief options differ: partnerships may qualify for Rev. Proc. 84-35 or a new automatic exemption, while S corporations generally must request relief directly.
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How to Calculate (and Not Underpay) Your Q3 Estimated Tax Installment
The Q3 estimated tax installment is not simply last year’s tax bill divided by four. This piece explains why uneven income can understate the standard calculation, why a later payment does not erase an earlier shortfall, and why adjusting withholding, not an estimated payment, can still correct an earlier quarter.
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100% Bonus Depreciation Is Back for Good: How to Use It Before Year-End
The One Big Beautiful Bill Act made 100 percent bonus depreciation permanent, but the deduction still depends on the placed-in-service date rather than the purchase date. This piece explains the acquisition-date and placed-in-service rules, contract timing risks, and the Form 4562 election businesses should confirm before the tax year closes.
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No Tax on Tips and Overtime: What the IRS’s New 2026 Payroll Rules Mean
The One Big Beautiful Bill Act’s tips and overtime deductions now depend on new 2026 Form W-2 reporting codes TP and TT, since the penalty relief that covered 2025 filings does not extend to 2026. This piece explains the new reporting mechanics and the payroll steps to confirm before year end.
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OBBBA One Year Later: What Changed for Small Business Owners in 2026
One year after the One Big Beautiful Bill Act, bonus depreciation, Section 179, and the qualified business income deduction have become permanent, while new 1099-K and 1099-NEC thresholds shift more recordkeeping onto small business owners. This article explains how IRS matching and planning windows continue year-round, not only at filing time.
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How Early IRS Representation Protects Your Business
Early IRS representation changes which options remain available once a lien or levy notice arrives. Filing a Power of Attorney and meeting the 30-day Collection Due Process deadline preserves negotiating leverage and protects business operating funds. Waiting until enforcement begins often limits a business owner to slower, weaker alternatives with fewer protections.
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The IRS Can Hold Business Owners Personally Responsible
Business owners often assume payroll tax liability ends when a role changes or a business closes. It does not. The IRS reconciles deposits separately from filings and can interview potentially responsible parties years later, when records and memory have faded, making documentation of your involvement and its end date essential.
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When Business Tax Problems Become Personal Tax Problems
Business tax problems rarely stay contained to the business. IRS information matching, pass-through K-1 taxation, and Trust Fund Recovery Penalty rules can convert a payroll shortfall or unfiled return into personal liability for owners. This piece explains how those systems connect, why waiting narrows options, and how to manage exposure year-round.
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Why Good Partnership Agreements Do Not Prevent IRS Problems
A partnership agreement governs how partners deal with each other, not how the partnership deals with the IRS. Steve Perry, EA explains why the partnership representative designation, updated annually on the return, controls IRS procedure regardless of what the agreement says, and why outdated language creates real exposure.
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Guaranteed Payments, Distributions, and Draws: Avoiding Common Partnership Errors
Guaranteed payments, distributions, and draws follow different tax rules, and confusing them creates real exposure. Steve Perry, EA explains why partners cannot be paid as employees, how draws can exceed basis and trigger taxable gain, and why missed estimated payments lead to avoidable penalties throughout the year.
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