A sole proprietor is someone who owns an unincorporated business by himself or herself. However, if you are the sole member of a domestic limited liability company (LLC), you are not a sole proprietor if… Read More »Sole Proprietorships
A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money, property, labor or skill, and expects to share in the profits… Read More »Partnerships
In forming a corporation, prospective shareholders exchange money, property, or both, for the corporation’s capital stock. A corporation generally takes the same deductions as a sole proprietorship to figure its taxable income. A corporation can… Read More »Corporations
S corporations are corporations that elect to pass corporate income, losses, deductions and credit through to their shareholders for federal tax purposes. Shareholders of S corporations report the flow-through of income and losses on their… Read More »S Corporations
A Limited Liability Company (LLC) is a business structure allowed by state statute. LLCs are popular because, similar to a corporation, owners have limited personal liability for the debts and actions of the LLC. Other… Read More »Limited Liability Company (LLC)
Most businesses start out small. As a new business owner you need to know your federal tax responsibilities. This page provides links to basic federal tax information for people who are starting a business. It… Read More »Starting a Business
Before you prepare a request for Appeals, refer to the Appeals homepage to decide if Appeals is the place for you. If you decide you want to present your dispute to Appeals, you will need… Read More »Appealing Examination Issues
If you decide you want to present your dispute to Appeals, you will need to prepare a request for Appeals and mail it to the office that sent you the decision letter. Make sure you… Read More »Collections
Preparing a request for Appeals. Small Case Request If the total amount of the proposed assessment for each tax period is $25,000 or less, you may file a small case request. If more than one… Read More »Trust Fund Recovery Penalty (TFRP)
If you received a letter notifying you that your offer was rejected you have 30 days to request an appeal of the decision. You can request an Appeals conference by preparing either a Form 13711,… Read More »Offer in Compromise (OIC)
In preparing a request for an appeal, compile a list of specific items you do not agree with and a statement explaining why you disagree with each item. You may find a review of the… Read More »Offer in Compromise (OIC) Disagreed Items
CDP procedures are available to you if you’ve received any one of the following notices: Notice of Federal Tax Lien Notice of Intent to Levy CDP Procedure You have 30 days to request a hearing… Read More »Collection Due Process (CDP)