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Marcum LLP
Tax & Business

Tax Return Compliance

Tax Return Compliance

Marcum's Tax Compliance group provides a wide array of tax reporting services for corporate and non-corporate clients. This group of professionals understands the ever-changing tax laws and regulations and can assist clients in maintaining tax reporting obligations.

The Group's members have extensive experience in tax return preparation and are skilled with various tax preparation software systems. The members pursue varying continuing education courses to stay current in tax issues affecting their clients, including attending both national and local tax seminars.

Contact one of Marcum's regional representatives.


Among the compliance services available through the Tax Compliance Group are:
  • Preparation of individual (Form 1040) and state and local tax returns.
  • Preparation of Form 1120 (regular corporation), 1120F (foreign corporation ), 1120S (S corporation), 1065 (partnership and LLCs).
  • Preparation of consolidated corporate tax returns.
  • Preparation of state and local returns on a stand-alone or combined basis.
  • Preparation of various forms for trusts, estates and gifts.
  • Preparation of various forms for tax-exempt entities and private foundations.
  • Preparation of various foreign information forms including Forms 926, 3520, 3520-A, 5471, 5472 and TD F 90-22.1.
  • Preparation of various forms for foreign persons’ U.S. source income including Forms 1040NR, 1042, 8804, 8805 and treaty positions.
Related Tax Return Compliance News

Associated Press interviewed Ed Reitmeyer, Philadelphia partner-in-charge of tax services, about what small business owners should know about their tax bills.


Some small business owners may pay lower taxes under the Republican tax overhaul, but accountants and consultants will want to read the fine print carefully ....

Crain’s New York Business asked Tax Leader Joseph Perry about how tax reform is impacting Marcum’s business.


With the hand-scribbled ink still wet on Washington’s shifting legislative efforts, accounting executives such as Joseph Perry and his team at Marcum are fielding an ....

Reasonable Compensation in Personal Service Corporations


A personal service corporation is a C corporation, the principal activity of which is the performance of personal services, with such services being substantially performed ....

The Los Angeles Times asked Marcum to partner on a project to see how the 2016 tax returns of selected readers would fare under the House and Senate tax reform bills.


Republican tax plans are working their way through Congress. If the House and Senate can agree on a final bill, will you owe more or ....

Bloomberg BNA quoted national Tax Leader Joseph Perry in an article about the treatment of the corporate alternative minimum tax in the House and Senate tax bills.


The AMT, a much-hated provision of the tax code, requires corporations and individuals to recalculate their tax liability if they took too many credits or ....

Bloomberg BNA quoted national Tax Leader Joseph Perry in a Daily Tax Report story about the taxation of pass-through income under the House and Senate bills.


Pass-through taxation represents one of the biggest rifts between the House and Senate tax reform plans, a difference that will have to be resolved before ....

The New York Times quoted Tax Leader Joseph Perry in an article about strategies to prepare for the loss of deductions for state and local taxes and property taxes.


The Senate and House may spend most of the month ironing out the differences in their tax bills. Or they may be delayed by other ....

The New York Times interviewed Tax Partner Kurt Koegl about the likely impact of tax reform on real estate investment trusts.


After a frenzy of congressional action to rewrite the tax code, salesclerks and chief executives are calculating their gains. Business was treated with the everyone’s-a-winner ....

Fox Business interviewed national Tax Leader Joseph Perry for a story about how tax reform will impact homeowners in high-tax states.


Republicans are moving a tax reform bill through Congress that could have both short-and long-term impacts on housing prices and trends. Real estate lobbies are ....

Tax Cuts and Jobs Act: What Are The Proposed Changes to Depreciation?


The Tax Cuts and Jobs Act was passed by the House of Representatives on November 16, 2017. The Senate Finance Committee also passed its own ....

Barron’s quoted Family Wealth Services Leader Carolyn Mazzenga in an article about how high net worth taxpayers residing in New York City may be impacted by tax reform.


As Senate Republicans moved closer to an overhaul of the nation’s tax code, the prospect of sharp cuts to corporate taxes loomed larger.

The Wall Street Journal quoted Philadelphia Tax Leader Ed Reitmeyer in an article about how the House and Senate tax bills would likely affect President Trump.


Opponents of the Republican tax proposal moving through Congress are focusing in part on one particular billionaire as they seek to rally Americans against it: ....

Construction Executive’s Managing Your Business published an article by Tax Partner James Lundy about the critical importance for construction contractors to undertake annual tax planning.


More than almost any other industry, construction contractors need to spend time and resources planning for their income taxes before the end of their fiscal ....

Bloomberg News interviewed Family Wealth Services Leader Carolyn Mazzenga about whether the loss of the state and local tax deduction in New York will drive wealthy taxpayers to move.


By eliminating the deduction for most state and local taxes, an individual making a yearly salary of $1,000,000 - a figure not uncommon in the ....

The Hartford Business Journal published an article by State & Local Tax Leader Paul Graney, on the tax changes contained in the bipartisan budget agreement enacted in Connecticut.


On Oct. 31, Gov. Dannel P. Malloy signed a trick-or-treat bipartisan budget agreement that provided for a number of new tax changes. He also vetoed ....

Forbes tapped the expertise of Tax Partner Janis Cowhey for an article about smart ways to tap your retirement money early.


Ideally, you’ll leave the money in your retirement accounts growing untouched until you retire. Uncle Sam imposes a 10% penalty on some early withdrawals to ....

NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP tax plan.


NBC Nightly News interviewed New York Tax Leader Maury Cartine for a story about how much President Trump stands to potentially save under the GOP ....

The New York Times spoke with Philadelphia Tax Partner-in-Charge Ed Reitmeyer about the treatment of pass-through income under the House Tax Cuts & Jobs bill.


The rewrite of the tax code, which the House passed on Thursday, proposed a 25 percent tax rate for small businesses for owners who report ....

NBC News asked Marcum to analyze the impact of the House Tax Cuts & Jobs Act on the 2005 federal tax return of Donald Trump, and reported the Firm’s findings.


President Donald Trump has insisted, for months, that the Republican tax plan he supports won’t benefit him. In fact, Trump and his heirs potentially could ....

Senate Committee on Finance Issues Version of Tax Cuts and Jobs Act


Last week, the Senate Finance Committee issued its version of the recently released House Tax Cuts and Jobs Act.

2017 Marcum Year-End Tax Guide Now Available


Marcum LLP has issued its 2017 Year-End Tax Guide in the midst of Congressional efforts to reform the national tax code. This year’s tax guide ....

Bloomberg Markets spoke with Tax Partner Shaun Blogg, Marcum’s office managing partner in West Palm Beach, FL, about the impact of tax reform for businesses and individual taxpayers.


Shaun Blogg, Marcum’s office managing partner in West Palm Beach, FL, discussed the impact of tax reform for businesses and individual taxpayers with Bloomberg Markets.

Bloomberg Markets asked Tax Principal Michael D’Addio onto the program to discuss the prospects for the House and Senate tax bills.


Bloomberg Markets asked Tax Principal Michael D’Addio onto the program to discuss the prospects for the House and Senate tax bills.

Tribune News Service interviewed Tax Partner Janis Cowhey for an article about the importance of couples in 2nd or 3rd marriages discussing finances and inheritance.


Heading into a new committed relationship means both partners need to take stock of their retirement plans and legal documents, having detailed conversations not only ....

U.S. News & World Report featured Brandon Blitzer, a tax manager in the Firm’s Alternative Investment Group, in an article about how the wash-sale rule can trip up investors.


Year-end investing moves can pay off nicely at tax time the next spring, but can also trip you up. Take the wash-sale rule. Running afoul ....

Reuters quoted Tax Partner Janis Cowhey in an article about splitting retirement accounts in a divorce.


While many couples dissolve their marriages without significant legal involvement, divvying up retirement accounts, particularly pensions, is thorny. Doing it without a proper legal agreement ....

CNBC quoted national Tax Leader Joseph Perry in an article about the hidden tax hike for high net worth taxpayers in the House’s Tax Cuts and Jobs Act.


The GOP's tax plan contains a little-noticed tax hike on big earners that could add another $12,000 to their annual tax bill.

Financial Advisor magazine spoke with Tax Partner John Mezzanotte about why so many taxpayers request extensions to file their tax returns in October.


Taxpayers who want up to a six-month extension to file their tax return file IRS Form 4868 have until mid-October to file. In recent filing ....

The Philadelphia Inquirer interviewed Jeffrey Winkleman, partner-in-charge of corporate taxation, and Steve Brett, president of Marcum Financial Services, for an article about the proposed cap on 401(k) contributions.


Wall Street can't be happy about Congress' proposal to cap our yearly 401k contributions at $2,400 — that’s the tax-deferred amount we would be able ....

CNN Money interviewed Partner Janis Cowhey about discussing retirement finances with your parents.


Discussing finances with your parents can be as uncomfortable as the talk they gave you about the birds and the bees. But it still needs to ....

Forbes interviewed Tax Partner Janis Cowhey about the increased lifetime estate and gift tax exemption.


It’s official. For 2018, the estate and gift tax exemption is $5.6 million per individual, up from $5.49 million in 2017. That means an individual ....

Employee Retention Credits under the Disaster Tax Relief and Airport and Airway Extension Act of 2017


On September 29, 2017, the Disaster Tax Relief and Airport and Airway Extension Act of 2017 was signed into law, providing certain temporary tax relief ....

IRS and Treasury to Withdraw Proposed Regulations that Would Affect Discounts Applied to Transfers of Family-Owned Businesses


On October 2, 2017, The Trump Administration issued Executive Order 13789. Included in this Executive Order, the IRS and the Treasury establish that they will ....

The New York Post interviewed Tax Leader Joseph Perry about the impact of potentially losing the deductions for mortgage interest, property taxes, and state and local taxes.


Homeowners would get a choice between deducting property taxes or mortgage interest on their federal tax returns as Republicans on Tuesday discussed modifications to the ....

Financial Advisor magazine spoke with Tax Partner John Mezzanotte about how to help clients save taxes on required minimum distributions from IRA accounts.


Once your client reaches age 70 1/2, he or she must take required minimum distributions (RMDs) annually from taxable IRA and 401(k) accounts.

WCBS-TV 2 interviewed Tax Partner Robert Spielman about the impact of the new Tax Reform Framework on Long Island homeowners.


President Donald Trump calls his tax reform plan a middle class miracle. But the elimination of most deductions, including state and local taxes, has some ....

The Long-Awaited Tax Proposal: The Unified Framework for Fixing our Broken Tax Code


On September 27, 2017, the Trump Administration and Republican leaders released a unified framework for tax reform that would make changes to both individual and ....

Tax Partner Robert Spielman wrote about maximizing your charitable contributions for his latest column in the Coconut Creek City News.


There is seemingly no end to the solicitations we receive from qualified charitable organizations seeking our assistance.

CNBC spoke with Trusts & Estates Co-Leader David First about the proposed repeal of the estate tax.


Donald Trump rallied the working class, but he is also championing one benefit favoring only the super-rich: eliminating the federal estate tax.

The Equifax Breach: How Can You Protect Yourself?


The Equifax data breach, which disclosed sensitive personal of an estimated 140 million individuals, has raised questions concerning what defensive measures should be taken now. ....

The Most Overlooked Tax Deduction by Real Estate Owners


The IRS has provided real estate owners with a juicy tax deduction. The de minimis safe harbor election is an annual tax return election ....

IRS Tax Relief for Hurricane Irma Victims


The IRS is providing help to the victims of Hurricane Irma. Special tax relief and assistance is available to taxpayers in the Presidential Disaster Areas. ....

Beware of Another W-2 Scam


On August 15, 2017, the Internal Revenue Service reiterated a warning urging businesses to be wary about a proliferating W-2 email scam.

IRS has Provided Significant Relief for Taxpayers Affected by Hurricane Harvey


As a result of the devastation caused by Hurricane Harvey, IRS has granted two significant forms of relief for those affected by the storm. The ....

The Tax Advisor published a semiannual review of recent developments in individual taxation, co-authored by Tax Director Don Zidik.


The IRS issued proposed regulations that update the definition of dependent to be consistent with Sec. 152 and reverse the IRS's previous position regarding when ....

Update: Not Just Another Sports Story


The Boston Bruins just concluded a center ice battle with the IRS that could affect all major sports teams and other businesses that have employees ....

“Good Faith” Abates Tax Penalties


The Internal Revenue Code imposes a 20% penalty on any portion of a tax underpayment that is attributable to negligence or disregard of rules and ....

TheStreet interviewed New York City Partner-in-Charge of Tax Services David DiFusco for an article about tax advisors’ outlook for tax reform.

With the Trump presidency having produced no significant progress on tax reform so far, the biggest corporate tax advisory firms in the world are cautiously ....

Facts to Know if You File and Pay Your Federal Taxes After April 18, 2017


April 18 was the deadline this year for most people to file their annual federal income tax returns and pay any taxes they owed.

Hobby or Business? A Discussion on Filing U.S. Form Schedule C


Self-employed U.S. taxpayers file a Form Schedule C Profit or Loss from Business along with their Form 1040 in order to report activity from sole ....

Tax Crimes Do Not Pay


An individual who experiences the full process of prosecution and conviction by the Department of Justice for a tax crime has the obligation to pay ....

Bloomberg TV’s Daybreak America invited Tax Leader Joseph Perry back to the program to discuss Washington’s agenda for tax reform.


Joseph Perry, tax and business services leader at Marcum LLP, discusses the issues that he feels need to be tackled in order to achieve U.S. ....

Chief Executive magazine consulted Tax Leader Joseph Perry about what CEOs need to know about tax reform.


On April 26, the Trump administration handed U.S. CEOs a generous gift in the form of a new tax reform plan. Designed to simplify the ....

TheStreet interviewed Tax & Business Services Leader Joseph Perry about the prospects for tax reform in 2017.


Wall Street is taking with a grain of salt Washington, D.C.'s promises that tax reform will happen this year.

Bloomberg Daybreak invited national tax leader Joseph Perry onto the show to kick off the network’s Tax Reform Week.


Bloomberg Daybreak invited national tax leader Joseph Perry onto the show to kick off the network's Tax Reform Week.

How to Determine if the IRS is Calling or Knocking on Your Door


Discerning communication with a legitimate IRS representative is proving to be a much more difficult task for taxpayers today as a result of an increase ....

Long Island Business News interviewed Long Island Partner-in-Charge Carolyn Mazzenga about tax return fraud and some of the things taxpayers need to watch out for.


Identity thieves have stolen more than $107 billion in the past six years, with $16 billion stolen in 2016 alone, according to the 2017 Identity ....

TheBalance.com quoted Tax Director Donald Zidik in an article about the deductibility of home offices.


The 9-to-5 office job may be on its last legs. Cause of death? Flexible hours, the gig economy and the rise of working from home. ....

NextAvenue.org interviewed Tax Partner Robert Spielman about which tax records to retain and which can be tossed.


You've finished your 2016 taxes and all the accompanying financial papers that went with it. So this is a good time to shred or trash ....

IRS Releases Proposed Updates to the Dependency Exemption Rules and Other Tax Benefits


Proposed regulations have been issued by the IRS updating the dependency exemption rules. These proposed regulations build on the dependency requirements previously amended by ....

New Filing Requirements for New York State and New York City Mandatory First Installments


For tax years beginning after December 30, 2015, New York State and New York City require certain corporations, including C Corporations, to use the second ....

Associated Press quoted Firm-wide Tax Partner-in-Charge Joseph Perry in an article about whether the decline in IRS tax audits leads more people to cheat on their income taxes.


As millions of Americans file their income tax returns, their chances of getting audited by the IRS have rarely been so low.

The New York Times quoted Tax Director Donald Zidik in an article about Morgan Stanley’s tax error on investors' account statements.


Some Morgan Stanley wealth management customers are getting news in the mail this week: They underpaid - or in some cases, overpaid - their taxes ....

Tax Planning for Manufacturers and Distributors


Here we are in the midst of another tax return filing season. You are a business owner and are planning to gather information for the ....

IRS Rolls Out Campaigns Showing the Future of Tax Examinations


On January 31, 2017, the Large Business and International division of the IRS rolled out the latest phase in a new effort aimed at improving ....

IRS Issues Guidance for Tax Treatment of Estates of Same-Sex Married Couples


On January 18, 2017, the Internal Revenue Service ("IRS") published administrative guidance in Notice 2017-15, providing specific policy and procedures for retroactively changing the tax ....

New Filing Deadlines for Tax Year 2016


It's tax filing season time again! As if trying to figure out what forms to file isn't hard enough for taxpayers, the IRS and many ....

States Require Driver's License for E-Filing Tax Returns


For individual filers who are required to e-file their income tax returns, don't be surprised to hear your accountant tell you she needs a copy ....

IRS Issues Revised Form W-8BEN-E and Instructions


On April 16, 2016, the IRS released an updated version of Form W-8BEN-E, Certificate of Status of Beneficial Owner for United States Tax Withholding and ....

Construction Contracts: Tax Planning Opportunities


When it comes to construction contracts and the IRS, the rules can be very complex. The IRS specifically addresses tax matters and construction industry issues within ....

Private Wealth magazine interviewed Partner Carolyn Mazzenga for an article about how President-elect Donald Trump’s proposed tax plan will effect high income earners.


Whether or not you approve of Donald J. Trump as the next president of the United States, if you're a highincome earner who would like ....

District Court Issues Nationwide Injunction on New Overtime Rule


A federal district judge in Texas issued an injunction on November 22, 2016, banning implementation of the Department of Labor's ("DOL") new rule increasing the ....

IRS and Security Summit Partners Warn of Fake Tax Bill Emails


The IRS has issued an official alert warning taxpayers of fake tax bill emails. In IRS Newswire IR-2016-123, reprinted below, the IRS explains how to ....

NBC News spoke with Tax & Business Services leader Joe Perry about Vice Presidential Candidate Mike Pence's tax return.


Republican vice presidential nominee Mike Pence released 10 years of tax returns on Friday evening, a disclosure that Donald Trump, his partner on the Republican ....


Beyond the Numbers

Roundup of business and tax planning ideas



Select the region to view contacts.

Robert L. Babek

Office Managing Partner
Tax & Business
Los Angeles, CA
Karen  Connair

Tax & Business
Irvine, CA
Jayson  Morgan

Tax & Business
Irvine, CA

The Marcum 2017 Year-End Tax Guide continues our tradition of providing timely tax guidance for the upcoming year.




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