Entries by zestsms

Overview of the IRS

The Internal Revenue Service is a part of the Department of the Treasury. The functions that interact most frequently with members of the public are the Service Center, Collection, Examination, and Criminal Investigation. The personnel and duties of each of these functions are summarized in a very cursory fashion below. Service Centers When returns are […]

The Trust-Fund Recovery Penalty—An exception to limited liability.

Many business owners form a limited liability entity (an “LLE”) such as a corporation or limited liability company (as LLC), to protect their personal assets from exposure to business liabilities. While forming an LLE is a prudent business decision, it is important to realize that they do not protect against ALL business liabilities. There are […]