Case 1: One of our present clients referred to us, a new self-employed client requested us to handle their IRS tax assessment of $70,000, excluding penalty and interest, for non-filing. After careful tax analysis, we collected all supporting documents of job related expenses, including bank statements and cancelled checks for the business and the applicable tax credits as legally allowed. We finally filed the income tax returns with a net tax due of $27,000, excluding penalties and interest or a tax reduction/savings of $43,000 to taxpayer.
Case 2: A new client referred to us by one of our present clients, requested us to review the IRS tax audit of $ 9,500 based on income tax return prepared by another accountant. We review the audited tax statement and we found out a significant discrepancy in computing the stock and dividend transactions. We amended the income tax returns of the taxpayer that resulted of, not only eliminating the audited tax of $9,500 but also, the taxpayer got additional tax refund of $1,600 or a total tax reduction/savings of $11,100 to taxpayer.
Case 3: Our client, a restaurant corporation, was assessed penalty of $147,000 from 2008 to 2012 by the New York State Workers’ Compensation Board for violation of the Workers’ Compensation Law for allegedly failure to maintain or produce records of the company. After sending several protest letters and the presentation of supporting documents to justify our client’s compliance, the NYS Workers’ Compensation Board decided to rescind the total penalty of $147,000 of our client as per Rescission Notice dated 12/12/2013.
Case 4: Our new clients, father & his two children, non-resident aliens residing in the Philippines, are survivors beneficiaries of the death of the spouse died in May 2008 as resident alien employed as teacher. The case was referred to us in June 2011 and we immediately made various representations with insurance companies, Internal Revenue Service and American Embassy to get all the requirements to facilitate the negotiation. We applied with IRS to get the Individual Taxpayer Identification Numbers (ITIN) as required by the insurance companies and to file the U. S. non-resident aliens tax returns to get tax refund of withholding tax deducted by the insurance companies from the proceeds of the death benefits checks. After seven months of continued negotiations, we finally got the checks of $166,500 from the Insurance companies and the tax refund of $22,500 from Internal Revenue Service or total death benefits and tax refund checks of $189,000, hand-delivered to the father and his two children in the Philippines.
We represented the above tax cases and the good result is a testament of our primary commitment of giving the best services to our clients based on our tradition of tax expertise, knowledge, and experiences in handling and solving difficult and complicated tax problems.
In compliance with the Treasury Department Circular No. 230, Subpart B and Section 10.51 (REV.-6-2014), Regulations Governing Practice before the Internal Revenue Service, we are prohibited to disclose the clients’ identity and records without approval from the taxpayers in above cases.
In our continuing effort to further enhance our professional credentials, EB Tax Consultants is proud to announce that our three (3) accounting and tax professionals passed the exams for the Annual Federal Tax Refresher (AFTR) for 2015 that covers New Tax Law/Recent Updates, Federal Tax Law and Ethics, plus the annual 18 hours of continuing education and valid Preparer Tax Identification Number (PTIN) as requirements to receive the Certificate of Completion of the Annual Filing Season Program from the Internal Revenue Service. One of our accounting and tax professionals, Edwin B. Bustamante, has already obtained the IRS credentials for passing the Registered Tax Return Preparer (RTRP). As we met the IRS competency standard, our names: Ernie Z. Bustamante, Edwin B. Bustamante, Eddie B. Bustamante and Eric B. Bustamante will be posted in the IRS’s Directory of Federal Return Preparers with Credentials beginning January, 2015 in the IRS Website: www.irs.gov.
We are presently servicing the preparation of payroll checks and bookkeeping requirements of our business clients in Brooklyn, Manhattan, Staten Island and Bronx that include lawyers and real estates, medical offices, restaurants and bars, building and residential cleaning services, grocery stores, contractors, car services, jewelry stores, bakery stores, seafood wholesale, consulting services and online furniture sales. We welcome all kind of small and medium businesses and our staff is always available if needed.
In servicing the payroll checks, we can deliver every Tuesday, the weekly or bi-weekly payroll to your place of business, even at night if necessary, to meet the payday on Wednesday for the convenience of our valued business clients. On bookkeeping activity, we record monthly the business transactions based on bank statements and cancelled checks, not co-mingled with personal accounts, for better control of operating revenue and expenses.
For the peace of mind of our valued individuals and business clients, we offer FREE representation with Internal Revenue Service, New York State/City and New Jersey in case of tax audit. We also offer FREE electronic filing of income tax returns and year-round FREE tax consultations at the same location for the past 25 years. With our personalized service, anyone of our four family tax professionals, Ernie, Edwin, Eddie and Eric, is ready to answer your tax inquiries or problems.
We will start preparing income tax returns in mid-January 2015. Come early to get your maximum tax refund in 7 to 15 days from date of IRS acceptance thru Republic Bank refund transfer cashier checks. To show our sincere appreciation to say “Thank you”, we will give-away Stylus/Ballpoint and Wall Destination Dreams Calendar for the first 1,000 valued clients that come to our office for tax preparation. You keep our business growing thru your continued patronage and referrals.
Se Habla Espanol, Gracias !!!! Salamat Po !!!!
EB Tax Consultants
CEO/Accounting &Tax Professional