EMAIL DETAILS

Hunter

Your personal income tax returns and those for Owasco, PC are due on Monday. I did not hear back from you about the details on what may be some loan proceeds rather than income.

As far as Owasco is concerned there were some receipts that we classified as loans. Owasco received approximately $550,000 from "Burisma" and paid about one half of this amount to, I believe, someone named "Devon". I am not sure of the payee. Is this the amount you are referring to? The one half payment to "Devon" was not recorded as income.

I will send the returns to you today if you can give me an email address to use. The taxes owed are substantial - about $600,000 personal and $204,000 for Owasco. Please file the returns even if you do not pay the tax. Filing the returns will stop further late filing penalties from accruing. IRS will start sending you collection notices but we will have about 60 days to file any needed amended returns before trying to work out a payment schedule with them.

Please email me the address to use to send the Fed Ex package.

Bill


ATTENTION! WE HAVE MOVED!


William A. Morgan, Jr, CPA

Morgan | Wingate P.C.
7501 Wisconsin Avenue, Ste. 600E
Bethesda, MD 20814
Tel: 301-718-6100
Fax: 301-718-6111

www.morganwingate.com<http://www.morganwingate.com/>


Internal Revenue Service regulations generally provide that, for the purpose of avoiding federal tax penalties, a taxpayer may rely only on formal written advice meeting specific requirements. Any tax advice in this message does not meet those requirements. Accordingly, any such tax advice was not intended or written to be used, and it cannot be used, for the purpose of avoiding federal tax penalties that may be imposed on you or for the purpose of promoting, marketing or recommending to another party any tax-related matters.