Skye Tayla

Strategic Tax Resolution & Compliance Optimization for Multi-Entity Business Owner

Freelancer.com • Freelance

Jun 2018 - Present • 7 yrs 11 mos

A business owner approached me with multiple unresolved tax filings across different entities, including a C-Corporation and a Partnership. They were facing compliance issues due to late and inaccurate filings, unreported contractor payments, and disorganized financial records. There was also growing concern about potential IRS penalties and the risk of triggering an audit. I began by conducting a comprehensive review of their financial data, prior filings, and bookkeeping structure. I identified discrepancies in their Form 1120 and Form 1065 submissions, along with missing Schedule K-1 allocations and unfiled Forms 1099-NEC for contractors. Additionally, their payroll filings (Forms 941 and W-2) contained inconsistencies that could have led to further penalties. To resolve the situation, I restructured their financial records, corrected all errors, and prepared amended returns where necessary. I ensured accurate reporting of income, expenses, and partner distributions, while properly aligning payroll and contractor filings with IRS requirements. I also implemented a streamlined filing system to prevent future compliance issues. As a result, the client avoided significant penalties, reduced their tax liability through proper classification and deductions, and regained full compliance with federal tax regulations. Beyond resolving the immediate issues, I provided ongoing guidance to help them maintain accurate records and meet future filing deadlines confidently. This project not only saved the client substantial financial losses but also restored their peace of mind, allowing them to focus on growing their business without tax-related stress.