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Scarinci Hollenbeck remains committed not only to providing top-tier legal services but also to regularly providing information and resources to our client base and internet following. Client Alerts provided by our attorneys supply businesses, municipalities, and more with the latest and relevant legal updates that may impact them and how they might be able to proceed.

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Why Filing Tax Returns on Time is a Good Idea

Filing tax returns on time I was asked if there is any drawback to not filing tax returns on time or to paying taxes late or not at all. Aside from the obvious, there are other ramifications that may not manifest for some time. We encounter in our practice business owners who have fallen behind […]

Author: James F. McDonough

November 20, 2015

Congress Increases Tax Return Penalties for Inaccurate Information

Last week, the IRS passed stiffer penalties for inaccurate information found on any tax return filed after Dec. 31, 2015. In the new legislation, penalties for inaccurate information on a tax return may have more than doubled for failure to file accurate information on returns or payee statements. The new provision and penalties for inaccurate […]

Author: Frank L. Brunetti

August 22, 2015

Tax Reform Is An Urgent Issue In The U.S.

Washington is in urgent need of tax reform, and as a result, lawmakers should seriously consider improving the current system, writer Nick Novak emphasized in a recent Washington Times article. Urgent need for tax reform Novak, director of communications for think tank the John K. MacIver Institute for Public Policy and contributor for the Washington Times, […]

Author: James F. McDonough

April 16, 2015

Common Errors on Business Tax Returns

Tax season is officially here, which means individuals and business owners will begin to file returns. The Internal Revenue Service is stringent when reviewing these documents, which is why companies will want to avoid the common missteps made on business tax returns: Filing the wrong formBusiness taxes aren’t as simple as income taxes, as there […]

Author: James F. McDonough

February 14, 2014

No Benefit to Filing Tax Returns Early

The beginning of the year generally means business owners, investors and individuals begin to prepare their taxes. However, thanks to the government shutdown in October, tax season in 2014 has been delayed, according to CNN Money. Instead of accepting 2013 tax returns on Jan. 21, the Internal Revenue Service won’t begin to take them until […]

Author: James F. McDonough

January 15, 2014

IRS Relies on Rule from 1800s to Justify Tax Preparer Regulations

The Internal Revenue Service is pulling out all the stops to support a set of proposed rules that would allow it to better regulate tax preparers, as evidenced by its use of a long-forgotten law from the 1800s to justify its argument. At an appellate court hearing challenging the IRS tax law, Justice Department representative Gilbert […]

Author: Scarinci Hollenbeck, LLC

October 9, 2013

Report: IRS to Increase Audits of Prior- and Subsequent-Year Tax Returns

The Internal Revenue Service announced its plans to conduct more correspondence audits of those with prior- and subsequent-year tax returns of non-compliant income tax filing, according to a new government report. The Treasury Inspector General for Tax Administration published new data that reveals the federal tax agency’s plans to expand the number of correspondence audits currently […]

Author: Scarinci Hollenbeck, LLC

September 25, 2013

IRS Clamps Down on Companies that Misclassify Workers

Tax season is officially here, and business owners with independent contractors and employees should not misclassify workers to avoid attracting the ire of the Internal Revenue Service. In an effort to close the tax gap and ensure full compliance with federal tax law, the IRS is focusing more closely on business tax returns and, specifically, […]

Author: Frank L. Brunetti

March 22, 2013

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