Corporate tax credits reduce tax dollar for dollar. Deductions only reduce the income the tax is computed on. The IRS went out of its way to publish a notice about corporations that paid a tax they never owed — Treasury and the IRS observed that some small corporate taxpayers reported corporate alternative minimum tax for […]
Displaying: C corporation
Corporate Tax Planning Before Year-End: Strategies for Q3 and Q4
August is when corporate year-end tax planning conversations start. Not December. By the time a CPA reaches out to a C corporation client in November, most of the actionable levers have already been pulled (or missed). The Q3 window is where the real work happens: reviewing estimated payments, evaluating compensation timing, and lining up capital […]
Surprise, Surprise for C Corporation Extensions
On January 17, the IRS published draft Form 7004 Instructions, extending the due date for C corporation returns to October 15, 2017.