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| FREE NEWS ALERTS A free, comprehensive news service to keep small businesses and independent contractors posted on the latest tax developments affecting their operations.
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February 3, 2010 Congress, IRS Need to Address S Corp Noncompliance, GAO SaysLong-standing problems with S corporation compliance produce revenue losses in individual income taxes and employment taxes, according to a recent Government Accountability Office report, and Congress should require S corporations to calculate and report basis for their shareholders’ ownership shares. An S corporation is a federal business type that provides certain tax and other benefits... Subscribers have free access to the archives. Click here. |
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