Build Back America Plan Proposes $80 Billion Increase to IRS Budget Allowing Hiring of 87,000 New Employees Taxpayers in the News IRS cases against actors Charlie Sheen and Chris Tucker made … [Read more...] about IRS FLEXING ITS MUSCLES
IRS Tax Planning Ideas, Tips & News
Offers in Compromise (OIC) – The Numbers Behind the Hype
Every taxpayer who has IRS tax debt wants to be accepted in the IRS's OIC program. Who wouldn't? OICs allow taxpayers to settle their tax debt for less than the full amount owed. … [Read more...] about Offers in Compromise (OIC) – The Numbers Behind the Hype
Sole Proprietorship or Limited Liability Company (LLC)
Operating as a sole proprietorship is the least complicated way to run a business. But, is it the best way to run a business? The Simplicity of a Sole Proprietorship In the eyes of the IRS … [Read more...] about Sole Proprietorship or Limited Liability Company (LLC)
IRS Backlog Reaches All-Time High
We have periodically reported about the IRS's backlog of unprocessed tax returns. The IRS commissioner has reported that all current filings are being addressed as received and the IRS is diligently … [Read more...] about IRS Backlog Reaches All-Time High
Why Did the IRS Select Me for an Audit Exam? [Part 2]
In our August 25 blog post, we discussed how the IRS selects returns for an audit exam. In this post, we discuss your rights as a taxpayer and how to appeal the IRS's findings. Your Rights as a … [Read more...] about Why Did the IRS Select Me for an Audit Exam? [Part 2]
IRS Record Retention Guidelines
Taxpayers are always asking "How many years do I need to maintain my tax records before I can dispose of them?" What Tax Records Must be Maintained? You must keep records such as receipts, … [Read more...] about IRS Record Retention Guidelines
