We all know that the Internal Revenue Service (IRS) won’t initiate taxpayer contact with a phone call. But a knock on the door? That’s precisely the plan as part of a new initiative: The IRS is stepping up efforts to visit high-income taxpayers who have failed to timely file one or more of their tax returns. High-income…
IRS has been back to work almost a week. But with reports of backlogs and piled up correspondence, what does it mean for taxpayers?
Another bit on NY1 – this time regarding audits: IRS Audits Need Not Be Feared – NY1.com
Tax issues cause some folks to act in an irrational manner. True, the taxman shouldn’t be ignored. But feared? Nah. Here’s my list of the top five things that taxpayers are irrationally afraid of – and shouldn’t be: Being aggressive when it comes to deductions. You’re entitled to take deductions. C’mon, say it with me…
The Government Accountability Office (GAO) has released a study concluding that many companies that contract with the federal government have been avoiding paying taxes. The GAO told a House subcommittee on April 19 that more than 50,000 federal contractors were delinquent with respect to their taxes, including 27,000 Department of Defense contractors, 33,000 civilian agency…