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Sauvigne & Company LLP Expands its Offerings and Talent

Sauvigne, Horvath and Lyons join forces

 

JERICHO, NY – June 27, 2016 // Sauvigne & Company LLP (“SC”), today launched a unique division focused squarely on creating additional value for their clients by strategically increasing revenue, optimizing organizational structure and preparing businesses for potential investment or sale. This new division will enhance SC’s current expertise in advising marketing related companies on both buy side and sell side M&A transactions (over 100 closed deals). The announcement includes the expansion of its Executive Team to include marketing industry leaders, Bob Horvath (linkedin.com/in/horvathbob) and Jim Lyons (linkedin.com/in/jim-lyons-757124a).  Bob and Jim have joined the firm as Managing Directors and will lead this newly created business consulting services division. While SC has a proven track record, Bob’s and Jim’s past experiences as Chief Executive Officer, Chief Marketing Officer, Chief Operating Officer and Chief Financial Officer of companies will enable SC to provide the unique combination of unparalleled financial, strategic and operational consulting services to marketing related companies.

"Bringing together this talent allows us to address a need in the marketplace for a thought-leading provider focused primarily on helping marketing related firms maximize their value”, said Chris Sauvigne (linkedin.com/in/chris-sauvigne-78a1bb122), Managing Partner of the firm. 

"We want to be clear that we aren't just another “consultancy” or “accounting firm”.  We are a unique team providing a unique service,” said Lyons. “Many marketing businesses aren’t sure what the best model is for servicing their clients as each client has different needs,” said Lyons. “We can now help agencies and marketing services businesses figure out which model is best for them. This usually results in a better-aligned organization, higher profitability and therefore, a more valuable business. These are important steps to be taken as owners consider their next steps in the future of their businesses.” Horvath added, “In our careers we have done a large number of acquisitions and have found many owners have a similar need – how do I position my business to be most valuable? We can tell them.”

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Tax Alerts
April 22, 2021
Tax Briefing(s)

The IRS and the Treasury Department have automatically extended the federal income tax filing due date for individuals for the 2020 tax year, from April 15, 2021, to May 17, 2021. Individual taxpayers can also postpone federal income tax payments for the 2020 tax year due on April 15, 2021, to May 17, 2021, without penalties and interest, regardless of the amount owed.


On March 11, 2021, President Biden signed the American Rescue Plan Act of 2021. Some of the tax-related provisions include the following:


The IRS needs to issue new rules and guidance to implement the American Rescue Plan, experts said on March 11 as President Joe Biden signed his COVID-19 relief measure.


Strengthening tax breaks to promote manufacturing received strong bipartisan support at a Senate Finance Committee hearing on March 16.


IRS Commissioner Charles "Chuck" Rettig told Congress on February 23 that the backlog of 20 million unopened pieces of mail is gone.


The Tax Court ruled that rewards dollars that a married couple acquired for using their American Express credit cards to purchase debit cards and money orders—but not to purchase gift cards—were included in the taxpayers’ income. The court stated that its holdings were based on the unique circumstances of the case.


The IRS Office of Chief Counsel has embarked on its most far-reaching Settlement Days program by declaring the month of March 2021 as National Settlement Month. This program builds upon the success achieved from last year's many settlement day events while being shifted to virtual format due to the pandemic. Virtual Settlement Day (VSD) events will be conducted across the country and will serve taxpayers in all 50 states and the District of Colombia.


An individual who owned a limited liability company (LLC) with her former spouse was not entitled to relief from joint and several liability under Code Sec. 6015(b). The taxpayer argued that she did not know or have reason to know of the understated tax when she signed and filed the joint return for the tax year at issue. Further, she claimed to be an unsophisticated taxpayer who could not have understood the extent to which receipts, expenses, depreciation, capital items, earnings and profits, deemed or actual dividend distributions, and the proper treatment of the LLC resulted in tax deficiencies. The taxpayer also asserted that she did not meaningfully participate in the functioning of the LLC other than to provide some bookkeeping and office work.


A married couple’s civil fraud penalty was not timely approved by the supervisor of an IRS Revenue Agent (RA) as required under Code Sec. 6751(b)(1). The taxpayers’ joint return was examined by the IRS, after which the RA had sent them a summons requiring their attendance at an in-person closing conference. The RA provided the taxpayers with a completed, signed Form 4549, Income Tax Examination Changes, reflecting a Code Sec. 6663(a) civil fraud penalty. The taxpayers declined to consent to the assessment of the civil fraud penalty or sign Form 872, Consent to Extend the Time to Assess Tax, to extend the limitations period.