U. S. Tax Code
Filing taxes for both individuals and businesses has become a nightmarish fiasco thanks to the 9,834 sub-sections of the IRS code. Not only do we at ETS believe this is a waste of taxpayers money but it is an onerous and abusive burden for all working people. The IRC code book has 3,906 pages. That is at least three times the size of God's Word - The Holy Bible. Below you will see videos of the latest laws and how they apply to every day tax payers. Have an Emergency? CALL (469) 262-6525U. S. Tax Code in Video
Basic Tax Concepts
Tax Court Jurisdiction Cash Vs Accrual Basis Accounting Method Changes Cash Equivalency Doctrine Economic Performance Hybrid Method Constructive Receipt Economic Performance Prepaid Expenses Small Business Safe Harbors Accounting Method Section 481 (a) Adjustment
Assignment of Income Doctrine Attribution Rules Claim of Right Doctrine Dependency Exemptions Qualifying Child Part 1 Qualifying Child Part 2
Support Test Tie-Breaking Rules Interaction With Prior Law Citizenship and Residency Personal Exemption Other Dependent Credit
Form 8332 Relative/Household Member Dependent Gross Income Depreciation 179 Social Security Numbers Kiddie Tax
Earned Income Credit Depreciation Earned Income Credit For A Child Education Opportunities MFS vs MFJ Head of Household Medical Deduction
Standard Deduction 2020 Standard Mileage Passive Activities At Risk Rules Tax Benefit Rule Worker Classification 530 Relief Gifts & Gift Tax (709)
Gift Tax Returns Gift Holding Period Basis in Gift Received Gains On Gift Property Loss On Gift Property No Gain or Loss On Gift Property
Exclusions Gift Tax Statute of Limitations Gift Reporting Completed Gifts Transfers Subject to Gift Tax Joint Tendency Gifts
Gross Income
Qualified Dividend Income Adoption Assistance Benefits Achievements Service Awards Taxable Employer Paid Earnings
Non-Taxable Employee Benefits De-minimis Fringe Benefits 132 Dependent Care Assistance Educational Assistance Employee Discount
Group Term Life Insurance Coverage Meals and Lodging Moving Expense Reimbursements No Additional Cost Services Retirement Planning Services
Tuition Reduction Transportation Benefits Prize Awards Interest Income Frozen Accounts Early Withdrawal Penalties Lottery Winnings
Minister’s Parsonage Allowance Savings Bonds Used For Higher Education Found Money or Treasure Troves Scholarships and Fellowships
Ill-Gotten Gains Life Insurance Proceeds Cash or Other Gifts Received Inherited Property Received Gambling Winnings and Losses
Casino and Lottery Installments Whistle Blowers Personal Injury Awards (IRC 104) Physical Injury to Body Other Damages Emotional Distress
Punitive Damages Legal Fees Payments for Permanent Injuries or Disfigurements
Casualty and Theft Losses
Casualty and Theft Loss Sudden Event Test When to Deduct Federal Disaster Theft Loss
Corporations
Corporations Contributions to Capital Preferred Stock vs Common Stock Dividends – Taxes Basis of Property Contributed Basis of Stock Received
Taxable Year Organization Costs / Start up Costs Accumulated Earnings Tax Personal Services Corporations (PSC) Shareholder Loan or Dividend?
Stock Redemption Corporate Liquidations S Corporation Reasonable Compensations Issues C/S Corporations
Partnership
Partnership Contributions of Property Contributions of Services Capital Versus Interest Limited Partnerships Family Partnerships
Partnership Tax Year New Partnership Audit Procedures Under IRS Partnership Income Tax Rules Disallowed Deductions Partnership Elections
Organization Expenses / Syndication Fees Partners Distributive Share Substantial Economic Effect Guaranteed Payments At Risk Rules
Passive Activity Rules Real Property Business Activity Debt Partner Section 179 Deduction Basis in a Partner’s Interest Partner Paid Expenses
Contribution of Appreciated Property Contribution of Services Partnership Distributions Partner’s Gain Partner’s Loss
Partnerships and Specified Persons Hot Assets Inventory Items Separately Stated Items Distributive Share in Disposition Year
Limited Liability Partnerships
Real Estate
Adjusted Basis Calculating Amount Realized Versus Gain Realized Gain Recognized Taxable Effect of Mortgage Funds Received
Tax Deferred Section 1031 Exchanges Section 1031 Advantages and Disadvantages Mortgages in a Tax Deferred Exchange Tax Deferred Losses
Basis of Property Received Three Party Exchanges Deferred and Reverse Exchanges Related Party Transactions Integrated Plan Test
1031 and Residences 1031 Solution Steps Rental Property Rent Income Security Deposits Deductions Depreciation
Rental of Residence (Vacation Home Rules) Counting the Days Rented Less Than 15 Days Rented More Than 15 Days Days of Fair Market Rental
Renting Residence Prior to Sale No Attribution of Personal Days Passive Activity in Vacation Home Rental Passive Activity Loss Limitations
Trade or Business Activities Real Estate Professional Installment Sale Adjusted Basis Real Estate Gross Profit (Realized Gain) Contract Price
Gross Profit Percentage Installment Sale Income Basis in the Contract Installment Sale Solution Steps 453B Installment Sale (using given numbers)
4538 Installment Sale Debt Relief in Excess of Basis Mortgage Interest
Estates and Estate Tax (706)
Estates and Estate Tax 706 Statute of Limitations Valuation of Property Alternate Valuation Date Asset Under Valuation Penalties
Estate Tax Computation Gross Estate – Section 2031 Power of Appointment Section 2041 Retained Interests Deductions for Decedent’s Debts
Deductions From The Gross Estate Portability Unlimited Marital Deduction Special Use Valuation Section 2032A
Qualified Conservation Easement Exclusion Benefits to Surviving Spouse Section 2056 Qualified Terminal Interest Property
Trusts
Trusts Small Business Trusts Business Trusts Multiple Trusts Grantor Trust Bankruptcy Grantor Retained Annuity Trust (GRAT)
Grantor Retained Un-trust (GRUT) Qualified Personal Residence Trust (QPERT) Trust or Estate Gross Income Trust or Estate Deductions
Simple or Complex Trust Trust Income Distributable Net Income (DNI)
Penalties & Interest
Interest Abated Penalties Failure to File – 6651(A)(1) / Failure to Pay – 6651(A)(2) Accuracy Related Penalties Section 6662 Negligence Section 6662(c) Substantial Authority Substantial Understatement Section 662(h) Fraud Section 6663 Responsible Person Penalty Section 6672
Frivolous Return Section 6702 Tax Shelter Section 6707A Administrative Waiver – Section 6751(B) Criminal Tax Evasion Section 7201 Form 5471 Penalty Under Sections 6038 & 6046 Preparer Penalties Section 6694-95-96
Miscellaneous Tax Topics
Section 280E Affordable Care Act Medicare (Additional) Net Operating Loss (NOL) Employee Stock Options Net Investment Income Tax
Section 199A Qualified Business Income Deduction Qualified Offer Same Sex Marriage Section 199 Domestic Production Deduction
Health Savings Account Long Term Care Costs of Chronically Ill Self Employed Health Insurance
Tax Resolution
People haunted by the IRS often ask, “Where can I find a tax resolution expert location near me?” ETS is available to help you today.
Tax Preparation
We have the best tax preparation software for small business in the Dallas, Ft. Worth area and we handle personal tax returns as well.
Bookkeeping/Payroll
We keep our clients books in compliance with our expert accounting tax preparation bookkeeping and payroll services.
Business Consulting
With over 30 years business experience, we provide business and corporate management consulting services.
Tax Court Preparation
This is rarely necessary, but as tax law scholars we also teach our clients how to file a petition with the United States Tax Court
Public Speaking Engagements
If you need a public speaker for live or virtual event, Allen Lenth deliverers a unique and enlightening expose’ on the IRS tricks of the trade – enlightening.
Contact Us About Your Case
We have the resolution expertise you need in order to get the IRS goons off of your back. Don’t try to take on the most powerful collection agency in the world by yourself. Contact us for a free 30-minute consultation today.
We provide help with IRS wage garnishment, tax liens & levies, and much Much MORE. Let us help you protect your business with our payroll solutions so you can finally sleep at night again wiht peace of mind.
“Allen always does a great job. He is very informative and always available to answer questions. great customer service and great communication. I would highly recommend him.“
“Allen has navigated complicated taxes for me with outstanding expertise. The response in communication is top notch. I trust his professional judgment and advice on all my tax requirements. He comes highly recommended!“
“Allen is a lifesaver. I had spent months simply trying to get someone at the IRS on the phone to help me resolve an error on their part. Within hours of speaking with Allen, he had not only resolved the initial issue but identified and resolved two additional errors from previous returns filed by other tax preparation solutions.
Allen is honest, quick to respond to even the tiniest question, and absolutely the bulldog you want fighting on your side against the endless hoops the IRS can force you to jump through.
Although my original issues with the IRS have been resolved, I will continue to use Executive Tax Solutions to prepare and file all my taxes going forward, knowing that there will be no errors going forward..”