S-Corporation owners and their tax professionals can avoid accuracy-related penalties by maintaining accurate records throughout the year. They can also avoid these penalties by correctly completing the Form 1125-E.
Many taxpayers understandably feel scared, stressed, and even angry when they receive a Letter 4464C from the IRS after submitting their tax return. But what does this letter mean? In today’s post, I’ll let you know why you likely received IRS Letter 4464C and what your next steps should be.
When you start a new job or experience a major life change, your employer will give you a tax Form W-4 to fill out. Clients often ask how they should complete the form and how many allowances they should claim…