IRS INTRODUCES NEW TRANSCRIPT Another Positive Step to Combat ID Theft Effective September 23, the IRS will begin to use a new transcript format that will redact personally identifiable … [Read more...] about IRS INTRODUCES NEW TRANSCRIPT
IRS Tax Planning Ideas, Tips & News
IRA Custodian Errors – Form 1099-R with Code G
IRA Custodian Errors Form 1099-R with Code G When a Code G is inserted in box 7 of Form 1099-R, the IRA custodian is representing to the IRS that the taxpayer did a non-taxable IRA rollover. The … [Read more...] about IRA Custodian Errors – Form 1099-R with Code G
IRS HOT Audit Issues
IRS HOT Audit Issues Be Prepared Substantiation Is Key to Sustain Tax Credits As a tax professional, it is relatively easy to identify some key issues that the IRS is focusing its attention. In … [Read more...] about IRS HOT Audit Issues
IRS Approves Back-Door Roth IRAs
IRS Approves Back-Door Roth IRAs The Ever-Changing World of Taxes In our October 17, 2017 post, we cautioned taxpayers who used the back door Roth (converting a traditional IRA to a Roth IRA) that … [Read more...] about IRS Approves Back-Door Roth IRAs
OUTSOURCING PAYROLL?
OUTSOURCING PAYROLL? Understand your Outsourced Payroll Responsibilities Let’s face it. Payroll compliance is challenging, complex and time-consuming with the different federal, state and local … [Read more...] about OUTSOURCING PAYROLL?
6-YEAR STATUTE OF LIMITATIONS
6-YEAR STATUTE OF LIMITATIONS How Long Does a Taxpayer Have to Maintain Tax Documentation to Support Tax Return? A question taxpayers often ask is “How long must I maintain my tax records?” … [Read more...] about 6-YEAR STATUTE OF LIMITATIONS
