by Renu Vardhan | Dec 8, 2014 | Uncategorized
As a result of ObamaCare or the Affordable Care Act, all Americans with an income above a certain threshold will have to purchase health insurance. The provision referred to as the individual mandate is what will legally require most US citizens and legal residents to...
by Renu Vardhan | Mar 10, 2014 | Uncategorized
Corporation and S-corporation federal income tax returns, for corporations with a December 31 tax year-end, are due March 17, 2014 (March 15, 2014, the usual date, is a Saturday). If you miss the filing deadline or do not file Form 7004 for an extension of time to...
by Renu Vardhan | Aug 21, 2013 | Uncategorized
IRS has consolidated the provisions of previous revenue procedures for requesting relief for late S elections under Sec. 1362, late qualified subchapter S trust (QSST) elections, late electing small business trust (ESBT) elections, late qualified subchapter S...
by Renu Vardhan | Aug 6, 2010 | Uncategorized
Generally if a person dies, his estate is subject to estate tax if it is over the exemption amount. The heirs, who inherit the estate, get a step up in basis in the assets inherited from the estate. Step up in basis is that the value of the assets
