Tax Advisory Services:

Tax problems often are compounded by ancillary issues such as accounting errors. A recent example involved an error reporting Subchapter S corporation shareholder basis and distributions. The rules are so complicated that it’s not unusual for even professional accountants to err in reporting. After identifying the problem, Halt IRS™ advised the client to have their accountant amend the tax returns to properly report shareholder distributions. After amending tax returns going back several years to correctly report in accordance with Internal Revenue Service guidelines, we could move forward with IRS settlement negotiations.