My client’s shaking, horrified. She lied on her tax return and worries the IRS will find out when they open the audit. She thinks she’ll end up in handcuffs if she Read more »
Could I Go to Jail For Lying On My Taxes?
Audits
Fewer Tax Audits by IRS
I attended the USC Tax Institute , a gathering of tax geeks in downtown Los Angeles, last month. Among the more accessible topics was a presentation on tax audits given by Ted Meyer, Read more »
Ministers, “Love Gifts” & Income Taxation
Churches and ministers receive many tax breaks: churches do not need to withhold social security taxes from their ministers’ pay; churches receive income tax-free; and ministers do not pay tax Read more »
The IRS Appeals Officer & Process
When a taxpayer disagrees with the IRS auditor’s determination, the IRS assigns the matter to an appeals officer. This is a second, new IRS employee that the taxpayer can negotiate Read more »
Investment Activity and Your Tax Return
Most people know that they can’t claim losses incurred by a hobby – say, for instance, their side hobby of breeding and raising Great Pyrenees dogs. No profit motive, no deduction Read more >>
The “Audit” That Isn’t An Audit
IRS has sent out tens of thousands of letters to small businesses asking them to explain the difference between the businesses’ receipts reported on the tax returns and reported by third parties Read more >>
Tax Debt Lowered from $513,000 to $30,000!
“Impossible,” you’re probably thinking. But it’s not. Here’s why. My client knew he had $200,000 in tax debt, only $30,000 of which was income tax debt; the remaining $170,000 was Read more »
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