IRS Examples of Tax Nonfiler Investigations – Fiscal Year 2010 Mike Habib, EA 877-788-2937 The following examples of Nonfiler investigations are excerpts from public record documents on file in the court records in the judicial district in which the cases were prosecuted. Back taxes, unfiled tax returns, tax debt settlement,…
IRS to Step up Audits of Sole Proprietors IRS Examination, IRS Tax Examination SOURCE: WebCPA The Internal Revenue Service plans to check for unfiled tax returns and look for unreported income from sole proprietors of small businesses during correspondence audits and face-to-face IRS tax audits. Estimates by the IRS show…
Important tax developments in the first quarter of 2010 IRS Tax Relief While the new law tax changes in the health reform legislation and the hiring legislation were the most significant developments in the first quarter of 2010, many other tax developments may affect you, your family, and your livelihood.…
Entertainment Industry Income tax help Every working Entertainer in the US is required to file his or her income tax returns on time and this means going through every receipt and transaction made throughout the previous year to make sure that everything is properly and accurately reported. Unfortunately, filing your…
Southern California Tax Relief Services IRS tax Relief, FTB tax Relief, BOE tax Relief, EDD tax relief At Mike Habib, EA, a SoCal tax firm, we understand that being notified that your tax return is being challenged by the IRS or the FTB can be scary. When you are faced…
IRS to Audit 6,000 Companies to Test Employment Tax Compliance Source: Bloomberg By Ryan J. Donmoyer Sept. 18 (Bloomberg) — The Internal Revenue Service will audit 6,000 U.S. companies to determine whether they pay all their required employment taxes to fund Social Security and Medicare benefits. The IRS said the…
Watchdog Growls At IRS‘ Audits By Mail Source: forbes.com A new report from the Treasury Inspector General for Tax Administration lends support to growing complaints about the Internal Revenue Service’s big audit-by-mail program. The IRS has increasingly relied on these correspondence audits, focused on one or two narrow issues, to…
IRS Urgent Letters and Notices That YOU MUST ATTEND TO Mike Habib, EA IRS Audit & Examination Letters Letter 525 – General 30 Day Letter This letter accompanies a report giving you a computation of the proposed adjustments to your tax return. It informs you of the courses of action…
IRS Tax Audits and Examination The US Internal Revenue Service organizes audits and examinations on tax returns to ensure tax compliance by both individuals and businesses. But because it’s virtually impossible to actually audit and examine every ITR for discrepancies, the audits are mostly randomized so your chances of getting…
Construction Industry Tax Issues Accumulated Earnings Tax Closely held C corporations are more likely to accumulate earnings and profits beyond the reasonable needs of the business in order to avoid income taxes on its shareholders than are large C corporations. Each accumulated earnings case is unique. No pro forma guide…