To our Clients, Friends and Associates:
We would like to express our sorrow and sympathy for the victims and their families of this terrible tragedy in the nation on September 11, 2001.
The United States Treasury Department and the Internal Revenue Service have announced initial administrative tax relief for individual and business taxpayers.The IRS News Release provides the details of the relief.
The relief for affected taxpayers basically provides an additional 120 days of time to file the tax returns. In addition, for affected taxpayers, estimated taxes for the third quarter can be paid with the fourth quarter due January 15, 2002, without penalty
Limited Liability Companies (LLCs) and Limited Liability Partnerships (LLPs) have become the choice structure for many business entities.
These structures offer business and tax features that may be right for your situation. During the various seminars that we presented, which included a program for a major lending institution, we discussed advantages, disadvantages, and potential pitfalls when converting from another form of entity to the LLC.