Tag Archives: IRS Problem Help
Ideas to Help Audit Proof Your Tax Return
No one likes the stress involved when your tax return is under the audit spotlight. Here are some ideas to avoid some of the more common audit triggers. Report everything that has an informational tax return.If you are like … Continue reading
IRS TAX AUDITS- PART IV
Please read our seven part blog series on IRS tax audits. We have answered some of the most asked questions we receive regarding tax audits. Can you request the audit be conducted at the IRS office instead of at your … Continue reading
Some Exempt Organizations Owe More than $100K in Delinquent Payroll Taxes
While the majority of tax-exempt organizations are in compliance with all of their obligations, those that do not often are significantly delinquent on payroll taxes. Tax-exempt organizations are, by their nature, not generally required to pay income taxes, they are … Continue reading
IRS posts “Taxpayer Bill of Rights”
The IRS has just issued a “Taxpayer Bill of Rights” that you should be aware of. The Rights are divided into ten main categories. According to this “cornerstone” document you have The Right: * to be informed * to quality … Continue reading
Are Your Workers Classified Correctly?
Don’t subject your business to tax penalties by miss-classifying an employee as an independent contractor. The IRS is aware that employers prefer to treat workers as independent contractors to avoid paying fringe benefits and payroll taxes. If you’re not … Continue reading
Check the Tax Rules Before Lending Money to Relatives
There are many worthwhile reasons to lend money to a relative. For example, you may want to help a child or sibling continue their education or start their own business. But lending money to relatives can have tax consequences. The … Continue reading
Creator of Beanie Babies Hit with $53.5 Million Penalty for Tax Evasion
Ty Warner, the creator of Beanie Babies, has been charged with tax evasion for failing to report income in a secret offshore bank account. The 69-year-old Chicago-area billionaire has agreed to plead guilty and pay a $53.6 million civil penalty … Continue reading
IRS Sends “Possible Income Underreporting” Notices
Form 1099-K is a new information return sent to businesses by “payment settlement entities” reporting the amount of credit card and other electronic receipts that were processed for the business. The IRS also receives a copy of Form 1099-K … Continue reading
IRS Systems Faulted for Identity and Access Management Security
Taxpayer data is vulnerable to inappropriate use, modification or disclosure, perhaps without being detected, according to a new government report that found problems with the Internal Revenue Service’s technology for configuration management and identity and access management. The report, from … Continue reading
Did You Receive a CP2000 Notice from the IRS?
Have you received a CP 2000 notice? Notice CP 2000 shows proposed changes to your income tax return. This proposal is based on a comparison of the income, payments, credits, and deductions reported on your tax return with information on these … Continue reading