Posts in Tax Planning
Tax Reform for Businesses

The recently enacted tax reform bill has made significant changes to the taxation of business.  This post summarizes some of the more substantial changes.

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IRS Taxation of Employer Owned Life Insurance

Employer-owned life insurance policies issued after August 17, 2016 are subject to taxation by the IRS unless they qualify for an exception and meet notice and consent requirements.

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IRS Collection Fast Track Mediation

The purpose of the mediation is to resolve disputes in the early stages of the collection process and within 40 days after the mediation application is accepted by the IRS.  In order to be accepted into the process, taxpayers must make a good faith effort to resolve matters with the IRS collection officer followed by a conference with the officer's manager.  Acceptance into the mediation process does not mean that taxpayers can't pursue other options if mediation doesn't resolve their case.  

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