According to the  recent article on TheStreet.com “IRS to Expand Audits as Cash Runs Low” by Joe Mont, it appears the IRS is doing anything and everything they can to make up for the “estimated $14 billion that companies underpay in employer taxes a year.”  The IRS plans to execute a three-year campaign that will crackdown on 6,000 businesses.  No one is safe from IRS audits as Uncle Sam zeros
[Read More]

Congress has increased the IRS’s enforcement budget to a record $5.5 billion — meaning hundreds of new agents hired for IRS audits and investigations. Fiscal year 2009 saw 1.425 million examinations of individual tax returns – the most seen all decade. The IRS also filed more than 3 million bank levies and nearly 1 million tax liens.
The trend towards tougher enforcement against tax avoidance means that more Americans than ever
[Read More]

Businesses and employers must be very cautious when it comes to classifying workers as employees or independent contractors – misclassification can get you in deep IRS trouble. Employers must be aware of these IRS audits and employee classification assessments because if the IRS finds a misclassification that has deprived employees of their tax benefits (such as classifying employees an independent contractors) they can demand the employer provide for these missed
[Read More]

The IRS is at it again. The stealthy and highly aggressive agency has added two new 1099 tax forms for businesses, requiring extra caution and countless more hours in reporting and preparing your tax returns. This means all business, no matter how small, will be affected. Whether big or small, it is essential to be aware of these new tax extensions NOW– or you could find yourself in BIG trouble
[Read More]

I recently provided advice about how to successfully file tax returns and avoid potential IRS back taxes during my interview on the Big Biz Show. I discussed the penalties of filing late returns and urged people to seek extensions the proper way in order to avoid failure to file penalties such as fines up to $25,000 per year and/or sentences of one year in prison per each un-filed year.  Due
[Read More]

Under the new health care mandate, the IRS has authority to withhold a portion of your federal tax return if you can’t demonstrate that you have health insurance coverage. Even though the IRS says they won’t audit you, your tax returns will be under greater scrutiny in the coming years. Increased IRS enforcement is a certainty, and now is the time to take action and get it right.

Tax resolution scams are on the rise as unethical tax relief companies are taking advantage of the increased number of taxpayers under threat of IRS audits and back taxes.
Because the IRS is increasing enforcement to unprecedented levels, there’s been an increase in the number of unethical tax resolution scams preying on people who owe back taxes. This year we’ve already seen rising numbers of consumer complaints about tax resolution scams.
[Read More]

As unemployment continues to rise and many Americans struggle to pay their monthly bills, less people are expected to file their taxes by the April 15th deadline, including those unable to pay their IRS bill.
H&R Block recently announced that year-to-date tax returns prepared have fallen by 8.2% from the prior year. While some taxpayers are opting to prepare their taxes themselves or using tax preparation software to save on fees,
[Read More]

1 in every 75 taxpayers will be audited.
Over the course of a lifetime, 80% of all taxpayers will have been audited by the IRS.
With that in mind, it’s not surprising that some 3/4 of the entire taxpaying public are seriously afraid of the ugly “A” word: AUDIT.
In plain terms, an IRS audit is to ensure that your tax return is filed correctly–that you’re not claiming too many unwarranted deductions, that
[Read More]

As Congress allocates another $12.2 billion to hire 2,000 more tax collectors, more Americans than ever will need professional tax relief to resolve back taxes, unfiled returns, and IRS audits.
In the weeks leading up to Tax Day on April 15, more struggling taxpayers facing IRS debt are seeking relief from their tax troubles during a record year for federal spending on tax enforcement. Glenn Beck, one of America’s leading
[Read More]

The economy is still tough on most taxpayers as the April 15th tax filing deadline approaches. While the IRS is strapping in all they’ve got to collect as much tax revenue as they can, a recent report by CNNMoney.com reveals that some 13% of all Americans find it acceptable to cheat on their taxes in order to save money.
Since the government has been trying to help struggling taxpayers with various
[Read More]

I believe that some people evade taxes because they fear that the taxes, or back taxes, they owe will be more than they can handle.   As I’ve blogged about tax evasion over and over again, one can only get away with tax evasion for so long and eventually the IRS will catch up to you.  Then you are looking at prison time and a hefty fine.  Don’t be afraid of taxes.
[Read More]

The IRS announced that it expects to expand its auditing activities by embarking on a 3-year campaign that will audit 6,000 businesses both big and small.
According to the TheStreet.com, the IRS estimates that American companies underpay employer taxes by a whopping $14 billion a year. As the government is strapped for cash, the IRS is stepping up its auditing department to try and cash in on lost tax revenue.
While some
[Read More]

I’ve recently blogged about what an IRS bank levy is and why you as the taxpayer must act immediately to get tax help from a tax attorney, CPA, or Certified Tax Resolution Specialist in order to save your financial well-being.
Now I want to go into more detail about just how a tax attorney can help you release your IRS bank levy. The IRS does provide some guidelines on bank levies
[Read More]

A tough year calls for tough measures. The IRS knows this better than anyone and is not afraid to show its aggression with the increasing audit rate.
Nearly 1.4 million Americans were audited in 2009, which equates to 1% of all tax returns filed. Even if you can’t pay your back taxes, you can settle your debt by negotiating a reasonable monthly IRS payment plan or an offer in compromise settlement
[Read More]