Jan 31, 2023
How The IRS Audits Attorneys
As attorneys are small business owners, it is necessary for them to have a trust account in which client funds are deposited and then transferred to pay for expenses and fees. Since attorneys have not always been great record keepers, the IRS and state governments often audit them, such as...
Jan 24, 2023
Can the IRS Contact Your Neighbor?
Many people have recently received letters from the IRS saying that the tax bureau may contact their neighbors, people close to them, or people in their business.
As a general rule, the government's tax bureau can only contact third parties, including your neighbors, your...
Jan 17, 2023
What Are The New IRS Agents Up To?
Taxpayers should prepare for the influx of new revenue officers and collection agents at the Internal Revenue Service, most of whom are in training. They're working with the field agents and slowly learning the ropes.
If you're a business owner and you owe back taxes, don't be...
Jan 10, 2023
Are You a Business Owner With Years Of Unpaid Tax Returns?
Many people think, "Oh, I didn't make much money. I don't need to worry about the IRS."
Remember, the tax bureau may look at your gross revenue, not your expenses. For example, you took in $100,000. That's the only part the IRS sees because they may see your...
Jan 3, 2023
Why Do So Many Real Estate Brokers Have Tax Problems?
Host: Jonathan Donenfeld, CPA, MSA
So many real estate and mortgage brokers have tax problems for two reasons:
1) They operate their businesses as sole proprietorships and are usually overwhelmed in budgeting for expenses and balancing their numbers
2) They...