Archive for the ‘IRS Tax Audits’ Category
Are Off-Shore Credit Cards Legal Under IRS Law?
Friday, April 2nd, 2010
Well, yes. It is not illegal to have an offshore credit card. However, there is a good chance that some people are using offshore credit cards to avoid paying income taxes. After all, credit cards allow easy access to offshore funds and accounts in so-called tax-havens (Caymans, anyone?). These allow income to be hidden. U.S. [...]
Who the IRS is Really After
Friday, April 2nd, 2010
The IRS is re-weaving its audit net. Now it is beginning to focus on some key areas where it suspects it will find noncompliance with tax requirements. After years of research and meetings the new focus will be on areas of high-risk of noncompliance. In a kind of a just systematic approach the IRS will [...]
How a Face to Face Audit Works
Tuesday, March 9th, 2010
If you take a deep breath and read it slowly, the audit letter you just received from the IRS will list the items the IRS wants to audit. A tax audit begins with gathering together all of the documentation the IRS wants to examine. Once this is gathered together, you will send it [...]
How to Prepare Yourself for an IRS Audit
Monday, June 15th, 2009
The worst thing that you can do after your receive a tax return audit is to ignore the problem or to procrastinate in facing the predicament that you are in. Once you receive that notice from the IRS, you need to be proactive in defending yourself. Time is of the essence when it comes to [...]
Why You Need a Tax Audit Lawyer
Saturday, June 6th, 2009
Did you know that your EA (enrolled agent) can be subpoenaed by a grand jury during a criminal investigation and forced to testify against you in a criminal case? Did you know your CPA can be subpoenaed by a grand jury during a criminal investigation and forced to testify against you in a criminal case. [...]
Tax Audit Fraud
Friday, June 5th, 2009
If at any time during the tax audit the taxpayer’s representative feels there may be a fraud investigation involved, or if the activities of the revenue agent suggest that the audit is leading to a fraud investigation, an attorney totally familiar with tax fraud matters should be consulted immediately. Under normal circumstances the revenue [...]
Preparation For the Tax Audit
Friday, June 5th, 2009
Preparation for the tax audit is everything. Both the representative and the taxpayer have much to do before they ever set foot into the IRS office. The entire tone of the audit will depend on the degree of preparation by the tax audit lawyer. If there is sloppiness or ignorance on the [...]
Tax Audit Representation – Who?
Friday, June 5th, 2009
When faced with an audit you may act on your own behalf at the interview or you may be represented. Tax audit representation is very important to select. For example you may want to be accompanied by a tax audit attorney, a CPA, or an EA (enrolled agent), or the person who prepared [...]
Why You May Have Been Audited
Thursday, May 28th, 2009
IRS tax audits can be a completely harrowing experience, especially if you are like the majority of Americans and believe that you have always filed your income tax returns honestly and conscientiously. Before you begin to panic after you receive your first notification in the mail informing you that you are being audited, here is [...]
What Happens When you Are Audited
Friday, April 17th, 2009
Many Americans live in fear that the dreaded IRS man will come knocking with in-home income tax audits. The truth of the matter is that the auditing process usually begins with a letter or a phone call that you must respond to. Many times the IRS is looking for correspondence audits in which they expect [...]