Its Friday, and that means time for my weekly tax news round up. Here’s a look at some of the IRS and tax related stories that caught my eye this week.
Lets begin with one of my favorite topics: Avoiding an IRS Audit.
Being audited by the IRS is no laughing matter and I want to help taxpayers avoid it whenever possible. I was very happy to be quoted in How to Avoid an IRS Audit in US News World and Report. I also shared my tips on avoiding an IRS Audit in the Big Biz Show Blog, 5 Tax Return “Red Flags” that Could Trigger an IRS Audit.
Now that tax season is here, many of us will be searching for tax filing advice to avoid headaches on tax day. I recommend bookmarking 10 common tax mistakes to avoid on CBS Money watch and following those tips carefully.
Barack Obama’s State of the Union address combined with the Mitt Romney tax returns reignited an ongoing debate this week about our current tax code and raising taxes on the wealthiest 2% in an effort to reduce our country’s overwhelming debt. I enjoyed reading this recap on Forbes, Taxes and the State of the Union by Kelly Phillips Erb.
Perhaps Washington needs to examine their own employees first. In the Washington Post article, Amid calls for tax fairness, government report shows federal workers owe $3.4B in back taxes, IRS data shows more than 279,000 federal employees (some of them working for the Senate and House of Representatives) collectively owe $3.4 billion in back income taxes as of Sept. 30, 2010. Hmmmmm.
There it is, my weekly round-up, I hope you will let me know which tax stories caught your attention this week!
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