#tax-compliance
Stay compliant with tax regulations and filing requirements
A federal court held a non-owner corporate officer personally liable for $1,880,987.96 of a company's tax debt under 31 U.S.C. § 3713, the Federal Priority Statute, because he helped pay other creditors while the insolvent company owed the IRS. Here is how the doctrine works, who is exposed, and a practical checklist for winding down an insolvent business.
Form 8697 look-back interest settles the gap between estimated and actual results on long-term contracts reported under the percentage-of-completion method — the IRS recomputes prior-year income with final figures and charges or refunds interest only, without reopening those returns. This guide covers who must file under IRC Section 460, the three-step calculation, the separate-filing rule for interest refunds, and what the Excel PCM calculator the IRS released on May 29, 2026 does and doesn't do.
Oral advice from the IRS is not binding — a private letter ruling is. Under Revenue Procedure 2026-1, 9100 relief for a missed tax election generally costs about $14,500, with reduced tiers near $3,450 and $9,775 for smaller organizations, and the IRS must make contact within 21 days of a complete request. Here's when a ruling is worth the fee, what the request must contain, and the no-fee alternatives — Form SS-8, Form 3115, and Rev. Proc. 2013-30 — that cover most common cases.
OBBBA raises the federal 1099-NEC and 1099-MISC filing threshold from $600 to $2,000 for payments made in 2026, with annual inflation indexing starting in 2027. The income stays taxable either way, some states still require reporting at $600, and per-contractor totals — not per-invoice amounts — determine whether you file.
199A's 20% QBI deduction sunsets after 2025 as written — model the cliff by your actual capped deduction and marginal rate, revisit salary and retirement timing, and track W-2/UBIA for a retroactive extension.
As of July 1, 2026, QuickBooks Online Payroll withdraws payroll tax funds the moment you run payroll — not on the IRS due date — with no opt-out. Here's who the change hits hardest, why the lost float matters, and five concrete steps to protect your cash flow.
The 10% Section 122 import surcharge expires automatically on July 24, 2026, when its 150-day statutory limit runs out — but expiration is not a refund, and Section 301 and Section 232 tariffs are already queued to replace it. Here's how small importers should tally what they paid, preserve refund rights, and model landed costs before the deadline.
A small building's first-year deduction can triple with cost segregation — reclassify 5-year, 7-year, and 15-year pieces, elect Section 179/bonus where it helps, and document the allocation the ATG expects.
A 2026 TIGTA audit found 1,375 unauthorized entries into restricted taxpayer-document areas and critical vulnerabilities left unpatched an average of 223 days at IRS scanning contractors. Here is what the watchdog found, how the IRS responded, and the concrete steps — IP PIN enrollment, early filing, e-filing — that reduce your exposure.
The Multistate Tax Commission's January 2026 white paper proposes a "blended" apportionment method that folds a partnership's sales, property, and payroll factors into each partner's own state tax calculation. Because states currently split between aggregate and entity sourcing theories, the same partnership dollar can be taxed twice — or not at all. Here's what multistate partnerships and multi-member LLCs should track now.
The National Taxpayer Advocate's 2025 Annual Report to Congress found the IRS took over 13 months on average to process 1.6 million business amended returns, after a 27% workforce cut left the Small Business/Self-Employed division down nearly 38%. Here's what the report says and six concrete steps to shield your cash flow.
Effective January 1, 2026, Texas SB 2206 raises the R&D franchise tax credit from 5% to 8.722% (10.903% for university-partnered research), makes it refundable in cash for businesses under $2.65M revenue and new veteran-owned businesses, aligns definitions with federal Form 6765, and repeals the R&D equipment sales tax exemption.
