Emelia Mensa CPA

Emelia Mensa CPA No annoying tax professional lingo. Just straight, authoritative and friendly advice. Visit us: www.waterbury-cpa.com
Or give us a call: (203) 244-9563

Over 25 years of serving Connecticut and Arizona clients, with their accounting and tax needs. I provide comprehensive, timely tax planning and savings, IRS Tax Representations/Resolutions, saving them time, money & hassle. As a full service accounting and tax advisor, I thrive and do promote great lasting relationship with clients. Hours of Availability Connecticut Office:

Monday-Friday 10am-5pm (in person)
Monday-Friday 10am-7pm (Remotely)
Closed Saturday and Sunday

10/05/2026

๐—ช๐—ถ๐—น๐—น ๐—ด๐—ฒ๐˜๐˜๐—ถ๐—ป๐—ด ๐—ฎ ๐—น๐—ฎ๐˜๐—ฒ ๐—ฆ ๐—ฐ๐—ผ๐—ฟ๐—ฝ ๐—ฒ๐—น๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป ๐—ฎ๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฒ๐—ฑ ๐—ฐ๐—ฎ๐—ป๐—ฐ๐—ฒ๐—น ๐—บ๐˜† ๐—œ๐—ฅ๐—ฆ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐—ถ๐—ฒ๐˜€?

Getting retroactive S corp status fixes your business tax classification, but it doesn't erase back penalties.

To the IRS, these are two completely separate files:
โ€ข ๐—Ÿ๐—ฎ๐˜๐—ฒ ๐—ฒ๐—น๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป ๐—ฎ๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฎ๐—น fixes ๐˜ธ๐˜ฉ๐˜ฐ you are for tax purposes (granting you retroactive S corp status from the date you intended).
โ€ข ๐—œ๐—ฅ๐—ฆ ๐—ฝ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐—ถ๐—ฒ๐˜€ are triggered by ๐˜ข๐˜ค๐˜ต๐˜ช๐˜ฐ๐˜ฏ๐˜ด (filing tax returns late, missing payroll tax deposits, or paying late).

Approving one does not automatically cancel the other.

The good news is, you can still request separate penalty abatement to get those IRS fines taken care of.

Comment ๐—ฃ๐—˜๐—ก๐—”๐—Ÿ๐—ง๐—œ๐—˜๐—ฆ to see if you qualify for penalty relief.

๐—œ๐—ณ ๐˜๐—ต๐—ฒ ๐—œ๐—ฅ๐—ฆ ๐—ฎ๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฒ๐˜€ ๐—บ๐˜† ๐—น๐—ฎ๐˜๐—ฒ ๐—ฆ ๐—ฐ๐—ผ๐—ฟ๐—ฝ ๐—ฒ๐—น๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป, ๐˜„๐—ถ๐—น๐—น ๐—บ๐˜† ๐˜€๐˜๐—ฎ๐˜๐—ฒ ๐—ฟ๐—ฒ๐—ฐ๐—ผ๐—ด๐—ป๐—ถ๐˜‡๐—ฒ ๐—ถ๐˜ ๐˜๐—ผ๐—ผ? No, federal approval doesn't necessarily me...
10/02/2026

๐—œ๐—ณ ๐˜๐—ต๐—ฒ ๐—œ๐—ฅ๐—ฆ ๐—ฎ๐—ฝ๐—ฝ๐—ฟ๐—ผ๐˜ƒ๐—ฒ๐˜€ ๐—บ๐˜† ๐—น๐—ฎ๐˜๐—ฒ ๐—ฆ ๐—ฐ๐—ผ๐—ฟ๐—ฝ ๐—ฒ๐—น๐—ฒ๐—ฐ๐˜๐—ถ๐—ผ๐—ป, ๐˜„๐—ถ๐—น๐—น ๐—บ๐˜† ๐˜€๐˜๐—ฎ๐˜๐—ฒ ๐—ฟ๐—ฒ๐—ฐ๐—ผ๐—ด๐—ป๐—ถ๐˜‡๐—ฒ ๐—ถ๐˜ ๐˜๐—ผ๐—ผ?

No, federal approval doesn't necessarily mean your state will recognize the same S corp treatment.

Thatโ€™s because your federal election and your state tax treatment are separate. Some states follow the federal election automatically, while others require their own election, filing, or payment.

So after your federal election is approved, let us help check your stateโ€™s rules to see whether anything else still needs to be filed or corrected.

10/01/2026

๐—ช๐—ต๐—ฎ๐˜ ๐—ฐ๐—ฎ๐—ป ๐—œ ๐—ฑ๐—ผ ๐˜๐—ผ ๐—บ๐—ฎ๐—ธ๐—ฒ ๐—บ๐—ผ๐—ป๐—ฒ๐˜† ๐—ณ๐—ฒ๐—ฒ๐—น ๐—ฎ ๐—น๐—ถ๐˜๐˜๐—น๐—ฒ ๐—น๐—ฒ๐˜€๐˜€ ๐˜๐—ถ๐—ด๐—ต๐˜ ๐—ถ๐—ป ๐—บ๐˜† ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€?

If cash feels tight in your business, start by collecting money that's already owed to you.

Here are three places you can start:
1. Audit monthly software and vendor subscriptions, and cancel whatever isn't bringing in revenue or saving time.
2. Send follow-ups on overdue invoices past 15 days (uncollected money is an interest-free loan you're giving away).
3. Offer an add-on service to active clients, which takes less effort than landing a new customer.

Cash flow problems are usually a system issue, not a personal failure.

Send us a DM if you want another set of eyes on your expenses and unpaid invoices.

๐—ช๐—ต๐—ฒ๐—ป ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—œ ๐˜€๐˜๐—ฎ๐—ฟ๐˜ ๐—ฐ๐—น๐—ฒ๐—ฎ๐—ป๐—ถ๐—ป๐—ด ๐˜‚๐—ฝ ๐—บ๐˜† ๐—ฝ๐—ฎ๐˜†๐—ฟ๐—ผ๐—น๐—น ๐—ฟ๐—ฒ๐—ฐ๐—ผ๐—ฟ๐—ฑ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐˜†๐—ฒ๐—ฎ๐—ฟ-๐—ฒ๐—ป๐—ฑ?You should start reviewing your payroll records before Q...
09/30/2026

๐—ช๐—ต๐—ฒ๐—ป ๐˜€๐—ต๐—ผ๐˜‚๐—น๐—ฑ ๐—œ ๐˜€๐˜๐—ฎ๐—ฟ๐˜ ๐—ฐ๐—น๐—ฒ๐—ฎ๐—ป๐—ถ๐—ป๐—ด ๐˜‚๐—ฝ ๐—บ๐˜† ๐—ฝ๐—ฎ๐˜†๐—ฟ๐—ผ๐—น๐—น ๐—ฟ๐—ฒ๐—ฐ๐—ผ๐—ฟ๐—ฑ๐˜€ ๐—ณ๐—ผ๐—ฟ ๐˜†๐—ฒ๐—ฎ๐—ฟ-๐—ฒ๐—ป๐—ฑ?

You should start reviewing your payroll records before Q3 closes so that you have time to catch problems while you can still address them.

A few things to check now:
1. Do your payroll reports match your general ledger?
2. Are any manual or voided checks creating discrepancies?
3. Do you have the right information on file for your contractors?
4. Are your payroll wage categories recorded correctly?

You have a three-month buffer to get those records cleaned up before December 31.

And if you want help reviewing the numbers, donโ€™t hesitate to reach out (especially before Q4 gets too far along).

09/28/2026

๐——๐—ผ๐—ฒ๐˜€ ๐—”๐˜‚๐˜๐—ผ๐—บ๐—ฎ๐˜๐—ถ๐—ฐ ๐—˜๐˜…๐—ฒ๐—บ๐—ฝ๐˜๐—ถ๐—ผ๐—ป ๐—ณ๐—ฟ๐—ผ๐—บ ๐—ฃ๐—ฒ๐—ป๐—ฎ๐—น๐˜๐˜† ๐—ฎ๐—ฝ๐—ฝ๐—น๐˜† ๐˜๐—ผ ๐—ฎ๐—ป ๐—ฎ๐—บ๐—ฒ๐—ป๐—ฑ๐—ฒ๐—ฑ ๐˜๐—ฎ๐˜… ๐—ฟ๐—ฒ๐˜๐˜‚๐—ฟ๐—ป?

No, Automatic Exemption from Penalty is intended for eligible original returns, not amended returns.

That means filing an amended return doesnโ€™t trigger an automatic AEP review.

If an amended return creates a penalty issue, there are still other ways to address it.

One thing we can look at is whether the penalty was assessed correctly in the first place. That means looking at the penalty alongside your filing history, payment history, and what actually happened with the return.

If something doesnโ€™t line up, challenging the assessment itself can be an option.

So if you get a penalty notice after amending a return, ๐—ฐ๐—ผ๐—บ๐—บ๐—ฒ๐—ป๐˜ โ€œ๐—ฃ๐—˜๐—ก๐—”๐—Ÿ๐—ง๐—ฌโ€ so we can look it over before assuming the amount is final.

09/24/2026

๐——๐—ผ ๐—œ ๐—ต๐—ฎ๐˜ƒ๐—ฒ ๐˜๐—ผ ๐—บ๐—ฎ๐—ธ๐—ฒ ๐—พ๐˜‚๐—ฎ๐—ฟ๐˜๐—ฒ๐—ฟ๐—น๐˜† ๐˜๐—ฎ๐˜… ๐—ฝ๐—ฎ๐˜†๐—บ๐—ฒ๐—ป๐˜๐˜€ ๐—ป๐—ผ๐˜„ ๐˜๐—ต๐—ฎ๐˜ ๐—œ ๐—ผ๐˜„๐—ป ๐—ฎ ๐—ฏ๐˜‚๐˜€๐—ถ๐—ป๐—ฒ๐˜€๐˜€?

Unless your business is a tax-exempt 501(c)(3) or you expect to owe under $1,000 in total tax, you are required to make quarterly estimated tax payments to the IRS.

This estimate covers income tax you'll owe as well as the 15.3% self-employment tax that you also must cover.

To stay ahead of your deadlines, open a separate tax savings account and automatically transfer 25% to 30% of your net profits into it.

That way, the money is already set aside when payment time comes.

Address

272 Meriden Road, Ste 2W
Waterbury, CT
06705

Opening Hours

Monday 10am - 7pm
Tuesday 10am - 7pm
Wednesday 10am - 7pm
Thursday 10am - 7pm
Friday 10am - 7pm
Saturday 10am - 2pm

Telephone

+12032449563

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