Individual Tax Returns

An Individual Tax Return can be filed by single and married taxpayers with and without dependents.

Corporate Tax Returns

Corporate Tax Returns are given when domestic corporations file an 1120 form reporting their income, gains, losses, deductions, credits and income tax liability.

Partnership Tax Returns

Partnerships are not required to pay tax on their profits. Partnerships are entities that report income, deductions, credits and any additional, applicable information to partners and they enter their share of this info on personal tax returns.

Trust Tax Returns

Any amount over $600 in annual gross income generated from an estate or trust must be reported to the IRS.

Estate Tax Returns

Any amount over $600 in annual gross income generated from an estate or trust must be reported to the IRS.

Charity and Nonprofit Returns

Charities and Nonprofits must report their activities regardless of income tax exemption.

Gift Tax Returns

A Gift Tax Return is given when a Form 709 is submitted to the IRS. Even if a gift tax is not owed, a return is required.

Tax Planning for Buying and Selling Businesses

Tax Planning for buying and selling businesses can be a meticulous task, and Byrne | Zizzi CPA has the professionals equipped with the tools to help you plan as efficiently as possible.

Tax Credits

A Tax Credit allows a taxpayer to subtract a certain amount of money from the tax they owe to the government. Certain tax credits are given to businesses in specific locations, classifications or industries.

Amending Prior Year Returns

An Amended Return can be used to make any necessary corrections to a business’s previous tax return.

Business Entity Selection

Making a Business Entity Selection is a complex decision. Byrne | Zizzi CPA can help evaluate your options and advise you on the most beneficial path to take.

Income and Franchise Tax

A company’s profit (net worth) is subjected to corporate income tax. However, only corporations are required to pay this tax. Sole proprietorships, partnerships and limited liability companies don’t pay income tax but may be liable for state taxes. Any company must pay for the privilege of doing business in a certain state or city.

Tax Elections

A Tax Election is a choice a taxpayer makes that will determine how a particular circumstance will be treated.

Personal Property Tax

Personal Property Tax is the tax a citizen pays for personal property such as cars and boats.

Sales and Use Tax

Sales Tax is included on all retail transactions. Use Tax is enforced tax on consumers for tangible personal property that is used, consumed or stored in this state.

Privilege License

A Privilege License is required for every person, firm, company or corporation involved in any business, vocation, occupation or profession.

Business License

A Business License is a permit that gives a citizen the right to operate a business in a particular city or jurisdiction.

Secretary of State Annual Reports

All limited liability companies and corporations are required to file an Annual Report with the Secretary of State.

Multi-State Planning

Multi-State Planning involves selling a private health insurance plan through the Marketplace under contract between the U.S. Office of Personnel Management and an insurance company.

Tax Credits

A Tax Credit allows a taxpayer to subtract a certain amount of money from the tax that they owe to the government. Certain tax credits are given to businesses in specific locations, classfications or industries.

IRS & IRS Audits

Internal Revenue Service

State Audits

A State Audit is an examination of all financial records to verify accuracy and check for fraud.

Offer in Compromise

Delinquent Tax Returns & Penalty Abatement

Penalty Abatement is granted by the IRS, allowing a person or company a reduction of taxation. An abatement can include a tax decrease, reduction in penalties or rebate.

IRS Payment Plans & Installment Agreements

If someone is unable to pay taxes owed, he/she may qualify for an IRS Payment Plan. The plan may include an Installment Agreement that gives a person the ability to pay taxes owed over time while avoiding legal repercussions.

Payroll Tax

Payroll Tax usually falls under two categories, including deductions from an employee’s wages and taxes paid by the employer, based on employee’s wages.

IRS Bank Levies

IRS bank levies authorize the confiscation of a person’s property to satisfy a tax debt. Examples of levies include bank garnishments, the selling of vehicle(s), real estate property and any other personal property.

IRS Tax Liens

An IRS Tax Lien is put on property to secure tax payment. The lien can be imposed to ensure payment of delinquent taxes owed on real property or personal property or for failure to pay income taxes or other taxes.

Innocent Spouse Relief

Three types of tax liability relief exist. This relief is for spouses or former spouses who filed joint income tax returns. The three types are Innocent Spouse Relief, separation liability and equitable relief.

State Tax Issues

Unemployment Tax

Unemployment Tax is implemented under the Federal Unemployment Tax Act. The act requires all businesses to pay a tax for the purpose of collecting revenue that can be allocated to state unemployment agencies and paid to unemployed workers who are eligible to make that claim.