eric l green: New Haven, CT: Understanding S-Corp Owner Compensation
- 01/18/23 01:47 PM
Whether you are in New Haven, Connecticut or not, what is "Reasonable Compensation" is a critical issue for S Corporation owners. We have defended both taxpayers and tax preparers on this issue before the IRS. The answer to this question depends on a variety of factors and can be complicated. This blog post will explore the concept of reasonable compensation for an S-Corp owner and provide some basic guidelines to help you better understand how to support the wage number on that 1120-S Return. Tax Implications The Internal Revenue Service (IRS) requires that S-Corporations pay their owners “reasonable” compensation" in order to avoid … (1 comments)
eric l green: See You in Miami: Resolving Payroll Tax Issues - A Case Study
- 08/20/22 05:15 AM
Payroll taxes are the number one reason why small business get into trouble with the IRS, and small businesses continue to suffer from the fallout from the COVID-19 pandemic along with supply chain issues, inflation, and staffing problems. The IRS has now announced an increase in enforcement of personal liability along with income tax assessments and civil fraud penalties against the owners of these businesses! Meet Mary Jones. Mary operated a staffing company with her sister and niece in Connecticut when they fell behind in their payroll tax filings and payments. We will walk you through Mary’s case, including the completed … (2 comments)
eric l green: Bloomberg Tax: Non-Filer? How to Come in From the Cold With the IRS
- 08/19/22 07:21 AM
My latest column is out on Bloomberg Tax: Are You a Non-Filer? How to Come in From the Cold With the IRS In it I walk you through whether the tax returns can just be filed, how many years to file, and when the taxpayer should consider making a voluntary disclosure with the IRS. Check out the column here and let me know if you have any questions or comments: https://news.bloombergtax.com/tax-insights-and-commentary/are-you-a-non-filer-how-to-come-in-from-the-cold-with-the-irs Thanks, Eric Eric L. Green, JD, LL.M. Green & Sklarz LLC 1 Audubon Street, 3rd Fl New Haven, CT 06511 egreen@gs-lawfirm.com https://gs-lawfirm.com … (1 comments)
eric l green: My Bloomberg Column: Unpaid Payroll Taxes Just Became More Dangerous
- 07/08/22 08:28 AM
My most recent column on the new enforcement focus on unpaid payroll taxes is out on Bloomberg Tax: https://news.bloombergtax.com/tax-insights-and-commentary/unpaid-payroll-taxes-just-became-more-dangerous-for-owners If you or your client has a payroll tax problem please contact me at either (203) 285-8545 or by email at egreen@gs-lawfirm.com. … (2 comments)
eric l green: Tax Rep Network Podcast: The Lifecycle of a Criminal Tax Case
- 02/10/22 05:34 AM
On this week’s podcast episode Eric is joined by Gwen Moore and Ajay Gupta to walk through how a criminal tax works, from referral to sentencing. Check out the podcast on ITunes, Google Podcasts, Apple Podcasts, Spotify or on our Podcast Page Here! Want to contact Gwen? She can be found here trying to save taxpayers. https://www.mooretaxlawgroup.com/attorney/moore-guinevere-m/ Ajay Gupta can be contacted here: https://www.mooretaxlawgroup.com/attorney/ajay-gupta/ Interested in joining Tax Rep Network and building an unbelievable Tax Rep practice? Come check out Tax Rep here! Want to check out a special offer from bench on outsourced bookkeeping and forensic reconstruction? https://bench.co/taxrep Use CallENQ to get through to the IRS in under 3 minutes! Special Offer … (0 comments)
eric l green: Tax Rep Network: Mad at the IRS? Blame Congress! with Guinevere Moore
- 01/28/22 06:15 PM
The headaches with the IRS continue: massive backlog of mail and returns that have not been processed, hold times on the phones that are measured in hours not minutes, and a grinding enforcement machine that continues unabated. Guest Host Gwen Moore joins Eric on this special episode to discuss her recent Forbes Column, the ongoing issues at the IRS, why Congress is actually the bad actor, and what they think of the Congressional announcement made today regarding the call for the IRS to hold off on enforcement. Check out the podcast on ITunes, Google Podcasts, Apple Podcasts, Spotify or on our Podcast … (1 comments)
eric l green: The Insider's Guide to IRS Offers - Released in Time for Black Friday!
- 11/18/21 01:20 AM
I am thrilled the newest guide in our Tax Rep library, The Insider's Guide to IRS Offers, is now available for pre-sale (e-book release date is 12/1, printed books expected to ship 12/15)! Want to really understand IRS Offers-in-Compromise? Have you ever worked through them and wish someone could answer all your questions? Well here it is, the perfect guide to do just that! In this guide I pulled the top 100 questions from my popular workshops and answered them all. You may already be doing Offers-in-Compromise or just starting on your first case. This guide will walk you through the Offer-in-Compromise program, … (4 comments)
eric l green: Tax Rep & UConn Launch of the IRS Representation Certificate Program
- 10/19/21 03:52 PM
Thrilled to announce that TAX REP LLC, in partnership with UConn School of Business is launching the IRS Representation Certificate Program this Friday the 22nd! This program includes five, four-hour modules for a total of 20 hours of learning. They are: IRS Collections Offers-in-Compromise Audits Resolving Payroll Tax Cases Innocent Spouse Access to the self-paced course begins on Friday, October 22 and is available through Wednesday, December 22. Check out more on the program here: https://online.uconn.edu/irs-certificate-program/... Included in each of the modules are exhibits to help you understand the processes addressed and familiarize you with IRS forms and correspondence. This will allow you to evaluate … (1 comments)
eric l green: Tax Rep Network Podcast: Its All My Fault
- 10/14/21 12:22 PM
On this week’s podcast Eric discusses the realization of what it is to take extreme ownership in your practice, what happens when you don’t, and how to turn things around. Eric quotes former navy seals Jocko Willink and talks about the espisode where Jocko joins Andy Stumpf on Andy's podcast Cleared Hot during the episode (Cleared Hot Episode 122). You can listen to the episode on Spotify, Google Podcasts, Apple Podcasts and ITunes, or at the Podcast Page here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/ Looking for Jocko Willink's and Andy Stumpf's content? Here are the links to get the book and listen in on their material, which … (1 comments)
eric l green: Tax Rep Podcast: When The IRS Wants the Quickbooks File
- 10/07/21 03:07 AM
Joining Eric on this week's Tax Rep Network Podcast is Walter Pagano. Walter is a partner and tax controversy leader at Eisner Advisory Group in New York where he specializes in forensic accounting and controversy issues. Walter and Eric discuss why the IRS wants the Quickbooks, file, the rules around their ability to obtain it, and what practitioners should be doing before and during the exam. Check out the podcast episode on Spotify, ITunes, Apple Podcasts, Google Podcasts, or on our podcast page here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/ … (2 comments)
eric l green: IRS Tax Compliance: What is Tax Compliance and Why Is It Important?
- 08/12/21 04:04 AM
I spend much of my day resolving taxpayer issues with the IRS. And though everyone wants to focus on the cool stuff - making massive debts vanish for pennies on the dollar - it actually all starts with "Tax Compliance." So what is Tax Compliance you may be asking...good question! Tax Compliance means that the taxpayer has filed all returns due and owing as of this moment (yes you non-filers!), defined as the last 6 years, and is making their current tax period payments. So as I sit here in August 2021, Tax Compliance would nean having 2015 - 2020 filed (if the … (2 comments)
eric l green: Podcast: How to Actually Work with Your Accountant
- 06/28/21 07:42 AM
Most Taxpayers do not know how to properly utilize their accountant. Joining Eric on this week’s podcast is Marcelino Dodge. Marcelino is the President of Cash Tracks Financial, a firm that provides personalized, professional tax, life insurance, & investment services to a wide variety of individual and business clients. He is also the voice of the Tax Answers Advisor podcast where he provides insights and planning tips to his listeners. Listen in as Marcelino and Eric discuss how taxpayers should get the most of their tax professional, and why if they are in trouble its almost certainly their own fault! You can … (1 comments)
eric l green: Podcast: IRS Voluntary Disclosure - Where Are We Now
- 06/11/21 03:44 AM
I bet you didn’t know that I (Eric Green) am on the subcommittee for the ABA tax section’s Criminal Tax committee? Well on this week's podcast I am joined by my committee members Laura Gavioli and John Nail to update everyone on where the IRS stands on voluntary disclosure for both domestic and foreign issues, and how best to make use of the program to save your client from their past misdeeds. Check out this podcast episode as well as all 102 others on Spotify, Apple Podcasts, ITunes, Google Podcasts or the podcast page here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/ … (2 comments)
eric l green: Podcast: Will Coinbase Change the World, with Alex Robnett
- 05/27/21 03:23 AM
Joining Eric on this week’s podcast is Alex Robnett. Alex is the Chief Strategy Officer at Elementus, a blockchain data firm headquartered in New York. Listen in as he and Eric discuss how blockchain and virtual currencies will alter the entire financial reality for everyone, business and individuals. Check out this episode and all 100 others at the Tax Rep Network Podcast Page, or on all major podcasting channels, including Google, Spotify, Apple and ITunes. Want to build your IRS Representation practice and add $100,000 to your bottom line this year? Join us inside Https://taxrepllc.com How to get the software we use? Go … (2 comments)
eric l green: Podcast: How to Bring an IRS Whistleblower Case, with Mike Villa
- 05/20/21 03:09 AM
As a follow-up to their earlier podcast (#83), Eric is joined again by Mike Villa from Meadows Collier in Dallas and IRS Supervisory Special Agent Gary Alford to review how to bring a whistleblower claim to report tax violations, what the IRS looks for, how to make sure the claim is actually looked at, and how to make sure your claim stands the best chance of receiving an award. In particular Gary will explain how IRS-CI looks at the case and what he wants to see when those claims hit his desk. Check out the episode here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/ Want to build a … (1 comments)
eric l green: Tax Rep Network Podcast: How to Do What You Love, with Amy Vetter
- 05/13/21 05:17 PM
For Episode 100 Eric invites Amy Vetter to join him and discuss how those struggling with their job and career can make a change and begin doing what they love. This change is very doable and does not need to be the radical shift it sounds like. You can listen in as both Eric and Amy discuss how they made their changes and have never looked back, and what you can do today to start doing what you love. Catch the episode on Spotify, Apple Podcasts, ITunes, Google Podcasts or on the podcast page here: https://taxrepllc.com/subscribe-tax-rep-network-podcast/
You can catch the edpisode here: https://www.voiceamerica.com/episode/130731/irs-collections-and-enforcement-how-to-solve-unpaid-tax-issues
Episode DescriptionWe have all heard the commercials asking, “Do you owe $10,000 or more to the IRS?” Or, you may wonder “What is the IRS really doing with collections and enforcement?” Though it may be calm now, taxpayers who have unpaid taxes or who are non-filers will soon be in for a big awakening. Eric Green of the Tax Rep Network and managing partner in the law firm Green & … (0 comments)
eric l green: Tax Rep Podcast: IRS Focus on Cryptocurrency with John Doe Summonses
- 04/19/21 03:39 AM
You probably have seen the IRS has now issued John Doe Summonses against other cryptocurrency exchanges with the goal of obtaining taxpayer information. On this week’s podcast Eric is joined by Kostelanetz & Fink’s Don Fort and Larry Sannicandro to discuss the impact of the IRS and DOJ summonses, and what it means for taxpayers and enforcement. In particular, Don as former Chief of IRS Criminal Tax Division discusses what is going on at the IRS, and he and Larry explain what taxpayers should be considering doing right now if they have in fact dealt in virtual currency and have not … (2 comments)
eric l green: TRN Podcast: Economic Hardship & Offset Bypass Refunds with Nina Olson
- 04/05/21 06:02 AM
Joining Eric on this week's Tax Rep Network Podcast is none other than the former National Taxpayer Advocate, Nina Olson. With so many taxpayers in trouble it is worth discussing the impact of economic hardship, what it means for taxpayers and the IRS and what the IRS can and cannot do to those taxpayers. Nina also discussed the issue around Offset Bypass Refunds, which is how uncollectible taxpayers that owe money can still get their refunds. Listen in on this can’t miss episode and learn some new strategies that you can use to help taxpayers weather the ongoing COVID fallout.
Want … (0 comments)
eric l green: IRS Can Use John Doe Summons to Identify Taxpayers with Cryptocurrency
- 04/01/21 02:38 PM
We represent taxpayers before the IRS and Department of Justice Tax Division, and have spoken frequently about the IRS increased use of both AI and John Doe Summonses to identify taxpayers who have either evaded reporting income and paying taxes, or those that have failed to disclose virtual currency in their financial affidavits, like with Offers-in-Compromise. Because of the IRS's efforts criminal tax referrals from the Collection Division are up 42% so far this year! Check out our podcasts #91 and 93 on this topic here: https://taxreptoolbox.com/tax-rep-network-podcast-main-page/ Today a federal court in the District of Massachusetts entered an order today authorizing the IRS to … (0 comments)
News, updates and innovative discussion of what is happening in the world of estate planning, tax planning, and criminal and civil taxpayer representation.
Whether you are in New Haven, Connecticut or not, what is "Reasonable Compensation" is a critical issue for S Corporation owners. We have defended both taxpayers and tax preparers on this issue before the IRS. The answer to this question depends on a variety of factors and can be complicated. This blog post will explore the concept of reasonable compensation for an S-Corp owner and provide some basic guidelines to help you better understand how to support the wage number on that 1120-S Return.
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