Author Archives: WendyLitten

Supreme Court Hands One to the IRS (and many more…)

Per this analysis from Taxes -the Tax Magazine, the Supreme Court has decided in favor of the IRS in a suit brought by the Mayo Foundation. The details of the suit are not important unless you are a resident physician who … Continue reading

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Blog Carnivals 2011-03-30

Thanks so much to Money Beagle for listing my post about Audit Risks at the Carnival of Personal Finance and Don’t Mess With Taxes Tax Blog Carnival for listing my small business taxes book review. It’s great to see what others … Continue reading

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Tax Savvy for Small Business Book Review

Tax Savvy for Small Business is a clear and handy guide to many aspects of small business taxation. If you own a business, I recommend you leaf through it and then sit down and read the sections relevant to your … Continue reading

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Audit Risk Highest on $10Million+ Income

Recently released data from the IRS shows that 19% of  income tax returns showing an Adjusted Gross Income (AGI) of $10,000,000 or more were examined in 2010 even though they were just .01% of all returns submitted that year. That’s … Continue reading

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Time is Running Out to Collect 2007 Tax Refunds

The IRS kindly reminded us that an estimated billion dollars in unclaimed refunds will expire April 18, 2011. The deadline for receiving a refund on your tax return is 3 years from the date due. The return for tax year … Continue reading

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Late Filing Your S-Corp Election Part 1

Did you just realize that no one filed the one piece of paper that changed your C-corporation or LLC into an S-corporation? The election to S-corp should have been filed the year before it applies or within 2 months and … Continue reading

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Hello world! from Wendy Litten, EA

Welcome to my new blog, exploring issues in tax problem-solving. The odds of running afoul of the IRS or a state tax authority seem to be growing every year. I hope to share information that anyone can use in these … Continue reading

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