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
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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
Tax Planning – Will Future Taxes Increase?
The House Ways and Means Committee on Monday released legislative text for proposed tax changes to be incorporated in the budget reconciliation bill known as the "Build America Back Better" act. … [Read more...] about Tax Planning – Will Future Taxes Increase?
Why Was My Company Selected for a Sales Tax Audit?
So you have received a notice from a state informing you that your company is being audited for sales (and use) tax compliance. The first question that usually comes to mind is "Why me?" The Most … [Read more...] about Why Was My Company Selected for a Sales Tax Audit?
Psst! Do You Want to Buy a Rolex Watch Real Cheap? And It’s Not Hot!
Would you like to purchase a home, an automobile, or a Rolex watch and name the price you are willing to pay? U.S. Department of Treasury Has Inventory for Sale The U.S. Treasury Department … [Read more...] about Psst! Do You Want to Buy a Rolex Watch Real Cheap? And It’s Not Hot!
