Tag: steve perry ea
-
Missing a K-1 or 1099 on October 14: How to File a Complete Return Anyway
A missing K-1 or 1099 is not a reason to miss the extended deadline. This article explains how to reconstruct the amount, document the estimate, and file a complete return, how IRS matching and CP2000 notices work afterward, and how to correct and prevent the issue deliberately.
-
October 15 Extension Deadline: What Filers Must Complete Before the 2025 Return Cutoff
October 15, 2026, closes the extension window for 2025 individual returns. Filing by that date preserves payment plan access and lower penalty exposure, while the IRS information matching cycle continues into 2027. Steve Perry, EA explains what to complete before the cutoff and how to protect remaining 2026 planning options.
-
Fourth Quarter Bookkeeping Checklist: Fix These Mistakes Before They Trigger an Audit
Fourth quarter bookkeeping decisions determine whether your return can be supported later. Unreconciled accounts, misclassified expenses, and incomplete contractor records create the mismatches that generate IRS notices and expand examinations. This checklist explains how IRS information matching works and which corrections still remain available before December 31 closes the year.
-
New IRS Office of Conservation Easements: What It Means for Aggressive Deductions
The IRS created an Office of Conservation Easements and ended its uniform settlement program on the same day, withdrawing acceptance deadlines. Specialists will now work these files. Steve Perry, EA explains how waiting erodes leverage, why basis and appraisal records decide outcomes, and what taxpayers should do before options close.
-
Inside the IRS’s 2026 Enforcement Playbook: What Small Businesses Should Expect Before Year-End
IRS staffing fell sharply in 2026, but automated matching, sequenced collection notices, and campaign driven selection carry more weight than ever. This flagship explains how CP2000 matching, new 1099 thresholds, the CP14 to LT11 ladder, partnership audit rules, and open ERC inventory shape small business exposure before year-end.
-
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.
-
Partnership Tax Problems That Turn Into Expensive IRS Notices
Partnership tax risk does not end when Form 1065 is filed. Ongoing K-1 matching, fixed per partner penalties, and the centralized partnership audit regime create exposure that continues year-round. Steve Perry, EA explains how IRS notices develop and what partnerships and partners should do to stay ahead of enforcement.
-
Shareholder Distributions vs. Payroll: Understanding the Difference Before the IRS Does
Withdrawals from an S-corporation are either wages or distributions, and the two carry different rules. Owners, who wait until filing time to decide which is which lose the chance to withhold and deposit payroll tax correctly and often overlook basis tracking that determines whether a distribution is taxable.
-
Reasonable Compensation: The IRS Rule Many S-Corporation Owners Ignore
Reasonable compensation is not a once-a-year filing decision. It is set through payroll during the year and stays open to IRS review long after. Owners who wait until the next return is prepared to check their salary have already lost the window to correct it for the year that closed.
-
S-Corporation Compliance Mistakes That Attract IRS Attention
S-corporation compliance does not end at filing. IRS matching systems compare payroll, Schedule K-1 data, and shareholder returns throughout the year, and mismatches in reasonable compensation, basis, or unanswered notices narrow options quickly. Ongoing review, not once-a-year filing, protects compliance standing and preserves planning opportunities year-round.
