Corporate Compliance, Tax Strategy & IRS Audits
Operating a business structure in the United States requires navigating complex federal and state statutes. From filing annual corporate returns to maintaining compliance under the Corporate Transparency Act, entity operators face strict regulatory demands. Our Corporate Services provide comprehensive tax preparation, incorporation support, Beneficial Ownership Information (BOI) reporting, and IRS audit representation.
We help business owners select tax-efficient entity structures, manage partner capital accounts, file accurate state franchise returns, and defend their corporate positions during IRS examinations.
Professional IRS Representation & Audit Defense
We represent corporate clients during audits, responding to information document requests (IDRs), and negotiating with revenue agents. Our core resolution strategies include:
- Offer in Compromise (OIC): Calculating your Reasonable Collection Potential (RCP) based on assets, current income, and necessary living expenses to settle unpaid liabilities for less than the full balance.
- Installment Agreements (IA): Structuring streamlined or non-streamlined payment logs to pay off tax debts monthly without triggering asset seizures or bank levies.
- First-Time Abate (FTA): Requesting administrative relief from failure-to-file or failure-to-pay penalties if you have a clean compliance record for the preceding three tax years.
Corporate Filings & Report Schedules
We manage, prepare, and file federal and state corporate returns to protect your entity standing:
| Filing Requirement | Purpose / Description | Standard Due Date | Penalty Framework |
|---|---|---|---|
| Form 1120 (C-Corp) | U.S. Corporation Income Tax Return - Subject to 21% flat corporate tax rate. | April 15 (Oct 15 ext.) | Late-filing fees |
| Form 1120-S (S-Corp) | U.S. Income Tax Return for S-Corporation - Pass-through entity reporting. | March 15 (Sept 15 ext.) | Strict Penalty |
| Form 1065 (Partnership) | U.S. Return of Partnership Income - Allocates earnings via Schedule K-1. | March 15 (Sept 15 ext.) | Per-partner late fees |
| FinCEN BOI Report | Beneficial Ownership Information Report under Corporate Transparency Act. | Within 30-90 days of setup | Up to $500/day civil fee |
Our Corporate Compliance Pipeline
We implement a structural process to align your company accounts and maintain corporate status:
Entity Assessment & Election Analysis
We review your corporate bylaws, partnership agreements, and operating metrics to verify if your entity is structured for optimal tax outcomes (such as filing Form 2553 for S-Corp status).
Quarterly Tax Estimation & Planning
We calculate corporate liabilities quarterly, adjusting shareholder salaries vs. distributions to optimize tax brackets and satisfy IRS reasonable compensation rules.
Annual Corporate Filing
We compile your trial balance, reconcile balance sheet accounts (depreciation, amortization, retained earnings), and prepare federal, state, and franchise tax returns.
Audit Defense & IRS Representation
If your business faces an audit or receives an IRS correction notice, our licensed professionals represent your entity, manage IRS communications, and resolve issues.
Frequently Asked Questions
What is the difference between a C-Corporation and an S-Corporation?
A C-Corporation is a separate taxable entity subject to double taxation (paying corporate tax on income, and shareholders paying individual tax on dividends). An S-Corporation is a pass-through entity where corporate profits flow directly to shareholders' individual returns, avoiding double taxation, subject to strict shareholder eligibility rules.
Who is required to file a Beneficial Ownership Information (BOI) report?
Under the Corporate Transparency Act, most domestic and foreign-registered LLCs, corporations, and limited partnerships operating in the U.S. must file a BOI report with FinCEN detailing their beneficial owners (individuals holding 25%+ ownership or substantial control) unless they qualify for specific exemptions.
How do S-Corporation reasonable compensation requirements work?
The IRS requires S-Corporation officer-shareholders to pay themselves a "reasonable salary" subject to payroll taxes before distributing tax-free profits. We run geographic and industry audits to construct compliant salary structures that withstand IRS challenges.
Can you assist if my business has received an IRS 30-day or 90-day audit letter?
Yes. We specialize in IRS audit representation. We review the notice, retrieve IRS transcript details, compile the supporting transaction logs, draft responses, and correspond directly with IRS examiners on your behalf to protect your corporate rights.
What is a franchise tax, and is my corporation required to pay it?
Franchise tax is a state fee charged to corporations, LLCs, and partnerships for the privilege of doing business or holding a charter in that state. It is often based on corporate asset value, outstanding shares, or gross receipts, rather than profit. We track and file these reports to keep your entity in good standing.