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Federal Tax Preparation

Our Approach

Individuals and businesses are familiar with the standard Form 1120 and 1040 tax returns; that’s basic tax compliance. However, Armanino’s federal tax team goes beyond compliance. Our federal business tax and federal individual tax specialists provide an in-depth understanding of the latest federal tax exemption provisions or tangible property deductions. They also take the time to really get to know your organization and your goals, both long- and short-term, so they can use their deep knowledge of the tax code to help you mitigate risk, increase profits and continue moving your family and your business forward.

Services

Our federal tax team focuses on helping you reduce your personal and federal business tax burdens. Our services include:

Federal Business Tax Preparation: Whether you need to file individual Form 1040, federal business tax Form 1120 or Form 1065 for partners in limited liability partnerships, you need a trusted partner to ensure you’re IRS compliant.
Affordable Care Act (ACA) Compliance: In 2014, the IRS released final Form 1094-C & Form 1095-C ACA regulations for large employers, or companies with more than 50 qualified full-time employees. The new rules became mandatory for the 2015 calendar year.
Schedule K-1: If you are a member of a partnership, you’re required to prepare a Schedule K-1 to report each partner's share of income, losses and federal tax exemptions.
Federal Tax Credits & Incentives: t the federal tax level, there are numerous federal tax exemptions and credits designed to help individuals and their families save money and reduce their annual tax bill. Common federal tax credits include savings related to higher-education tuition, raising a child or buying or leasing a vehicle. For individuals looking to reduce their tax obligation, the federal gift tax exemption may allow you to give money, assets and real estate to loved ones and worthy causes while substantially lowering your present tax burden. Overall, federal tax exemptions allow families to potentially save more on their taxes than a single person can.
Federal Tax Law Updates: At Armanino, our tax experts stay updated on the latest tax laws from the IRS and Congress, as well as the Accounting Standard Updates issued by the FASB. Signup for our Tax Alerts to ensure you stay up-to-date too.

Experts

Scott Borgia

Partner

Jerri Hammer

Partner

Dan Jones

Partner

Perry Kaufman

Partner-In-Charge, Texas

Jennifer Steele

Partner

Brad Cless

Partner-In-Charge of Tax

John Brychel

Partner

Resources

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Make sure you don’t miss any important 2018 tax deadlines. Be aware that some deadlines have been moved up or pushed back compared to previous years.

Congress Passes Biggest Tax Bill Since 1986

On December 20, the House passed the reconciled tax reform bill, which the Senate had passed the previous day. It’s the most sweeping ...

Trump Administration Signals Employer-Friendly Shift

The U.S. Department of Labor has begun taking steps to loosen the reins on employers, turning away from some Obama administration initiatives.

DOL’s Overtime Rule Lands in Limbo – For Now

Uncertainty over the DOL overtime rule may cause planning problems for employers. We explain why.

Repeal of ACA Tax Provisions Uncertain After Senate Vote Fails

ACA tax provisions remain intact after Senate “skinny repeal” vote falls short.

The Uncertain Future of the NIIT: What It Means for Your Tax Planning

The NIIT may well remain in place for 2017, so plan a strategy to reduce or eliminate your NIIT liability for the year.

What Might Happen if a 15% Business Tax Rate Becomes Law?

The president’s proposed 15% business tax rate may offer savings opportunities for more than just businesses.

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This summary of when various tax-related forms, payments and other actions are due will help you make sure you don’t miss any important 2017 tax deadlines.

2015 PATH Act Does More Than Extend Tax Breaks

On Dec. 18, the Senate passed the PATH Act. We provide a quick rundown of some of the key tax breaks that have been extended or made permanent for individuals and businesses.

Clock on Beach Sand Feature

Now is the time for affected employers to begin assembling the necessary ACA information. This article details what information is required to complete Forms 1094 ...

SCOTUS same-sex marriage decision has tax implications for couples and their employer ...

On June 26, the Supreme Court issued a landmark 5-4 decision on same-sex marriage, which will affect tax and estate planning for many couples and also impact their employers.

Highway Funding Law Brings Important Tax Law Changes

The Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 was signed into law on July 31; the 34th stopgap extension of transportation programs since 2009.

New Trade Law Hikes Penalties for Tax Reporting Errors

The Trade Preferences Extension Act of 2015 (TPEA) increases by as much as 150% the potential penalties for taxpayers that err in their ACA information reporting to the IRS or payees.

Judicial Hammer American Flag Feature

On June 25, the Supreme Court upheld the ACA’s premium tax credits for qualifying taxpayers, whether they purchase coverage through a federal or a state exc ...

Conference Table Presentation Review Feature

The IRS recently released guidance on two major areas affecting businesses—the Work Opportunity Tax Credit (WOTC) and the tangible property regulations, and ...

Hand Fanning Money Feature

The recently released ACA transition relief period for small employers (those with fewer than 50 full-time equivalent employees) includes 2014 and the first six m ...

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Employers with medical reimbursement plans need to review them to ensure they don’t accumulate heavy tax penalties from noncompliance with Affordable Care A ...

Businesses, Individuals Benefit from Latest Tax Relief Extender Law

On Dec. 16, the Senate passed the Tax Increase Prevention Act of 2014 (TIPA), a stopgap measure that retroactively extends certain tax relief provisions through Dec. 31, 2014.

IRS Releases Latest Rules On ACA Reporting

The IRS has released a combined reporting form and simplified reporting methods to comply with recent ACA requirements.

Employers: Avoid ACA Penalties, But Only If You Act Now

The IRS has released some long-awaited final regulations (regs) for the Affordable Care Act (ACA)—with additional final regs on information-reporting requirements expected soon.

IRS Issues Sweeping Rules on Owning Tangible Property

The IRS released its highly anticipated final regulations regarding the deduction and capitalization of expenditures incurred to acquire, maintain and improve tangible property.

Top 5 Things Your Tax Advisor Should Have Done

Checklist: Top 5 things your tax advisor should have done to lower your tax bill.

IRS Issues Guidance on Tax Treatment of Health Coverage for Adult Children

A little more than a month after President Obama signed the Patient Protection and Affordable Care Act (PPACA) into law, the IRS has released guidance on provisions related to the tax treatment of employer-provided he ...