Legal News
Article by Sandra D. Mertens Published in the Illinois Bar Journal
The July 2015 edition of the Illinois Bar Journal features an article written and published by Sandra D. Mertens of Dale & Gensburg, P.C. entitled “Can You Pierce the Veil of an Illinois LLC?" In brief, the article discusses certain situations when creditors of an...
Form 5500-EX Voluntary Disclosure Program Coming to an End
On June 2, 2014, the IRS launched a voluntary disclosure program to help small businesses come into compliance with their retirement plan filing requirements. The program applied to Plan Administrators for certain small business plans (owner-spouse), certain business...
High Standard for Abatement of FBAR Willfulness Penalties
All U.S. taxpayers who maintain foreign bank accounts, investment accounts, property, or other assets must generally report the existence of their foreign asset to the U.S. government, as well as recognize their foreign income on their U.S. income tax returns. Foreign...
Limited Liability Company vs. S Corporation
When clients are considering what business entity is appropriate for their new business, they frequently ask what the differences are between a Limited Liability Company ("LLC") and an S corporation. This article highlights some of the more significant differences...
New Illinois Independent Tax Tribunal
Submitted on Monday, September 23, 2013 - 2:04pm After several years in the making, the new Illinois Independent Tax Tribunal will begin hearing cases on January 1, 2014. The Tribunal will take jurisdiction over cases where the tax liability at issue exceeds $15,000....