On January 9, 2017, Senator Elizabeth Warren, D-Mass., introduced the Presidential Conflicts of Interest Act of 2017 that, if passed, would require the President, Vice-President, spouses and minor or dependent children to divest themselves of all interests that may or will…
January 23, 2017
A recent business client of Chicago Tax Attorney Patrick T. Sheehan & Associates had not filed its Forms W-2 or W-3 with the Social Security Administration for one year. As a result, the IRS assessed a Civil Penalty against our client…
January 13, 2017
Sovereign immunity is a legal doctrine carried over from the time of Kings in which the King and his court were immune from claims by his subjects because “the King can do no wrong.” Even though we do not have…
January 13, 2017
Good Beer. Doing Good. That’s our slogan for Hops for Humanity—the 501(c)(3) non-profit organization started by Elmhurst Tax Attorney Patrick T. Sheehan in 2014. Three years later, and we’re still going strong! How Hops for Humanity works is actually pretty simple. Members…
January 09, 2017
Both the U.S. House and Senate unanimously approved legislation to refund withholding taxes improperly taken from severance pay made to wounded military veterans. The Combat-Injured Veterans Fairness Act of 2016 requires the Defense Department to identify combat-injured veterans that received…
December 22, 2016
The IRS recently announced that the upcoming filing season for 2016 tax returns will begin on January 23, 2017. The filing deadline to file tax returns for 2016 is Tuesday, April 18, 2017. The traditional April 15 date was extended…
December 19, 2016
If you are a regular reader of this blog, you are aware that there are many different types of IRS scams where imposters try to separate you from your money by pretending to be the IRS. These scammers utilize different methods…
December 02, 2016
A tax-exempt private foundation is prohibited from transferring any of its income or assets to a disqualified person. A disqualified person is defined as someone with a “particular, usually intimate relationship with respect to a private foundation” according to Bruce…
November 29, 2016
If you are a regular reader of this blog, you are aware that the IRS and the United States Department of Justice are now vigorously pursuing employment tax violations and are referring more cases for criminal prosecution. If you are…
November 29, 2016
If you are a business owner and have employees, you are required by law to withhold tax from your employees and to pay those funds to the IRS when required to do so by law. The tax withheld from employees…
November 27, 2016
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