Tag Archives: Communication

Free IRS Phone Forums – Employee Plans

  Free phone forums featuring IRS employees discussing retirement plan topics. Upcoming Phone Forums Determination Letter Issues Regarding Employee Stock Ownership Plans – October 28, 2011 The presentation will cover topics such as technical issues affecting ESOPs and recurring issues noted in ESOP determination letter submissions. Presenters are Don Kieffer and Rick Parker in the […]

2010 IRSAC Report Made Available

Washington — The Internal Revenue Service Advisory Council (IRSAC) issued its annual report today during a public meeting held in Washington, DC, delivering a report with a series of recommendations on a wide range of tax administration issues. IRSAC made several recommendations based on its findings and discussions, in some of the following areas: Procedures […]

Expensing Accounts Payable

Today TaxMama hears from Cinda in the TaxQuips Forum with a quickie question. “I bought a company and with it came  $72,310 worth of outstanding debt.  How should I initially set this up and how would I track the payments I make towards these payables?  The payments are an expense correct?”