Few things can be as frustrating and stressful to a small business owner than having to deal with the IRS. Tax issues have caused many small businesses to have to close their businesses and it could happen to anyone. Even those who aren’t intentionally avoiding taxes can find themselves in trouble with the IRS if they aren’t careful. Keep these tips in mind and you’ll have a better chance of staying out of hot Read More

If the IRS has notified you that you are being audited, you need to make sure you are prepared. Audits can be very scary and can cause you a lot of problems if the IRS discovers issues with your return. Whether it is your personal taxes that are being audited, or taxes for your business, you will want to start getting ready for the audit as soon as possible. The following five tips can help you to ensure you are Read More

It is no secret that the IRS can be a huge problem for people. But most taxpayers trust the IRS to be competent, if not pleasant. Unfortunately, assuming competence is giving the IRS more credit than is due, in many cases. The IRS is often careless and enforces laws or penalties even where they should not apply. And not surprisingly, when the IRS makes some type of mistake it can be exceedingly difficult to get it Read More

Identity theft is a major problem, and it is only getting worse as the criminals continue to become more and more advanced. One of the biggest threats for many people is IRS identity theft. This is any type of tax related identity theft where criminals will use your social security number and other information to file a tax return. They will have the money deposited into their own account where the money can then be Read More

If you owe the IRS money from back taxes, you are likely worried about how you will be able to pay them. While the simplest option is to come up with the full amount owed, that is not always possible. To help those who are having trouble, the IRS has a program called an “Offer in Compromise” that can help many taxpayers. What Is an Offer in Compromise? An offer in compromise is an option to settle your debt Read More

When it comes to the IRS, there is no shortage of horror stories to go around. While an IRS audit is certainly not pleasant to deal with, it is much better to know the truth about them than to live in fear about a myth. Read on to learn about four common myths about the IRS. Doing Taxes Yourself Will Get You Audited Many people like to go to professional tax companies when they file because they think that it Read More

If you have never had to deal directly with the IRS, consider yourself blessed and hope that you never do. If you have recently been notified that you are being audited, or need to work with them on some other matter, you will quickly discover just how painful it can be. Most people know that Government agencies can be massive, inefficient, bureaucratic messes. Well, the IRS is widely considered to be the worst of Read More

There are few things that most Americans fear more than an IRS audit, and with good reason. The IRS audit process is a mystery to many people, but the reality is there are some things that can increase the likelihood of being chosen for an audit. Sometimes there is nothing you can do to avoid raising these “red flags”, but in many cases there is. Take a moment to learn about five major issues that can cause you to Read More

Most people try to think about the IRS as little as possible throughout the year, and then when tax time comes around they have their taxes filed and hope everything goes smoothly. When asked about the IRS, most people report that they are scared of this mysterious agency that has the power to destroy lives and businesses with a simple audit. While there is no doubt that the IRS is powerful, they are much easier Read More

Receiving a notice of IRS audit can be very unnerving. You’ll likely read and re-read the letter numerous times, or you may stick it in a drawer and hope it goes away. You may call the IRS to confirm you didn’t receive the message in error. An audit? Why? What did you do wrong? What’s going to happen to you or your business? If you remember only one piece of advice regarding an upcoming audit, let it be this: Do Read More