Category Archives for AUDITS, APPEALS, & LITIGATION
Is the IRS picking on you?
You are not alone. Running the government is expensive and the number one means for paying its bills and expenses is you - the taxpayer! The government is an equal opportunity debt collector. It doesn’t
Read MoreNice-Try Tax Breaks Rejected by the IRS
Over the years, taxpayers have concocted a lot of zany arguments to justify their tax breaks. Here are some of the most creative ones that the courts decided did not quite work. Take note: many of these
Read MoreOffering Trust Fund Recovery Service can Enhance Your Practice
Trust Fund Recovery Penalty (or TFRP) resolution is a very important part of any tax problem resolution practice, and it can mean a lot of extra income for any CPA practice offering this service – there’s
Read MoreAbout IRS Tax Audits and How to Avoid Them
Most people cringe when they hear the word audit – and it’s a deserved reaction. Going through the process and ultimately resolving an audit is definitely not fun and could be costly, so it’s
Read MoreCan You Call it a Business or is it Just an Expensive Hobby?
It can be very difficult to determine and qualify the difference between the two. Here’s an example of how to be sure to (eventually) get on the IRS’ radar regarding this matter: Deduct hefty
Read MoreA Few Strategies To Reduce (Or Eliminate) the Taxes You’ll Owe on Your Social Security Benefits
Over the years, I’ve been asked how taxes on Social Security benefits are calculated, and if there are any strategies that would help them avoid paying taxes on their benefits? Whether your Social
Read MoreConvicted Of Tax Evasion, Poker Chip CEO Was Facing 10 Years, Got Only 10 Months
The CEO of a Maine poker chip manufacturer was found guilty of tax evasion for paying employees under the table and evading payroll taxes. John M. Kendall was convicted on three felony counts of theft
Read MoreTax Bills You’re Likely to Face on Your Sources of Retirement Income
When you’re planning for retirement, it’s fun to contemplate all the cruises, rounds of golf, and restaurant visits you have ahead of you. After all, you’ve earned it! Unfortunately, many retirees
Read MoreHow long should you keep your tax records?
As we move through tax season, some of my clients have been asking how long they should keep their tax records in case they get audited – and are some records more important to keep than others. Since
Read MoreNew Due Date for Filing FBARs
If you have financial interests in, or signature authority over a foreign financial account (bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, exceeding certain
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