Tax Collections after Shutdown-a Major Priority
For the 16 day government shut down, tax enforcement and collections came to a halt. With the IRS now operating at full steam, should you be concerned? The government shutdown from October 1 to October...
View ArticleQuickBooks and IRS Audits-Understanding the Relationship
Most small business owners try to avoid IRS audits at all costs but sometimes it’s unavoidable; you receive a correspondence audit from the IRS you asking for more information. While accounting...
View ArticleIRS Problems-Agency Paid $110B in Improper Tax Credits
It looks like the IRS is in the hot seat – again. This time it’s because of a recent report from the Treasury Inspector General for Tax Administration (TIGTA) showing that over the last ten years, the...
View ArticleIRS Tax Case: Miami Accountant Pleads Guilty to False Tax Return
An accountant in South Florida pleaded guilty to two counts of making and filing a false tax return. Edda Obando, 65, of Miami, prepared a false and fraudulent tax return that significantly...
View ArticleOffer in Compromise Helps Settle Tax Debt for Less
Question: I don’t know what’s next for me. I owe way more to the IRS than I could possibly pay. I read a column in which you suggested to a reader that he look into an Offer in Compromise. But isn’t...
View ArticleIRS Encouraged to Increase Correspondence Audit Collection
If you think that audits will not increase due to IRS sequester budget cuts think again. A recent article from Accounting Today titled: “IRS to Increase Audits of Prior- and Subsequent-Year Tax...
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