The head of the Internal Revenue Service described how the tax-collecting agency will place more pressure on tax cheats and companies that facilitate cheating. It’s time for tax cheats to worry.
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The Internal Revenue Service is “turning up the pressure” on tax cheats.
Those were the exact words from IRS Commissioner Douglas H. Shulman when he spoke in December at the IRS/George Washington University 24th Annual Institute.
The IRS will direct much of the
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Between piercing the Swiss banking veil and deploying an algorithm to identify possible tax cheats, it’s never been a worse idea to be cheating on your taxes.
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$2.2 billion.
That’s how much the Internal Revenue Service has collected from people who participated in a 2009 program that offered amnesty to those who came forward and disclosed money held in foreign banks.
“This dollar figure will grow in the months ahead,” IRS Commissioner Doug
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The IRS revealed last week a new program where business owners, particularly those that own small businesses, need to reclassify contractors as employees and make a small payment to cover past payroll taxes. The article Price of Reclassifying Workers, written by Sarah E. Needleman and Emily Maltby comes after an ultimatum by the IRS for small businesses (which tend to have less staff and a looser structure): raise operating costs
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“When Bad Things Happen to Good People” is an appropriate title for the recent episode of Business Day TV with Terry Bradshaw featuring an interview with the leaders of Tax Resolution Services, Co.

This special episode acknowledges the poor economic realities currently facing many Americans, some for the first time and often through no fault of their own. Negative life altering events such as job loss, death of a loved one
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Being audited by the IRS can be a scary and stressful situation. Whether you are being audited for tax problems from investment mishaps, offshore accounts or any other reason, it is important to make sure a tax professional is there to make your audit goes as smoothly as possible. Karen E. Klein of the LA Times offers great advice to a reader about to be audited:
Karen: You answered a question
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Should you be afraid of an IRS audit?  The answer is yes.  More than 50% of the referrals that the Criminal Investigation Division (CID) gets are from the IRS Revenue Agent that conducts the audit interviews.  IRS audits are there to keep the innocent on track and to expose those that are not so innocent, from small time tax cheats to big time tax evasion like in the article below.
Clarissa
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Today’s Tax Resolution Tip:
Do you own a home-based business? Ensure you can easily track your expenses by saving a copy of each and every business transaction and deduction!
While good record keeping is a great practice when it comes to filing taxes, it is all the more important if you own a small home-based business. If the IRS decide to audit your business you need to show proof of every deduction
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Today’s Tax Resolution Tip:
If you are a home-based business owner, here’s a tax tip that is particularly relevant to you. Tracking your expenses is essential, especially if you are audited by the IRS. Save at least one copy of each and every transaction and/or deduction as proof in case of audit.
Visit our audit FAQ page for more information on IRS tax audits, including how to avoid them and survive an IRS
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Many consumers out there may feel that being rich and wealthy spares you from having to worry about taxes and the IRS coming after you. However, in recent years the case has been quite on the contrary. The IRS have been gradually increasing their audits of high income consumers. Wealthier taxpayers may find themselves being audited as the IRS increases their enforcement efforts and cracks down on back taxes owed
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This week, BusinessWeek reported that AstraZeneca, a U.K. pharmaceutical giant, agreed to settle a U.S. tax dispute and as a result raised its profit target for this year. This is great news not only from a consumer’s point of view, showing that settling back taxes and IRS debt not only brings much needed tax relief, but as a corporation, settling tax issues can reflect positively throughout your business.
AstraZeneca is reported to
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The IRS, while a fierce and aggressive  agency, does not discriminate. Whether you’re rich or poor, young or old, male or female, if you owe them money, they will come after you regardless of your current financial standing. I recently blogged about that in regards to a Survey Revealing Tax Cheats to be Young, Single and Male.
Now CNNMoney.com reports the IRS is paying particular attention to millionaires – and cracking down
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The year 2010 was a banner one for the enforcement wing of the IRS. As reported by the Associated Press and other news organizations, the IRS increased the number of returns it audited by nearly 11 percent last year—some 1.58 million individual returns, compared to 1.43 million the year before.
Steve Miller, IRS deputy commissioner for services and enforcement states in the AP report, “We saw individual audits increase, reaching the
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Are you being audited by the IRS?  Any IRS tax audit – whether they are conducted through correspondence, at your home, office or the IRS office – should be taken very seriously.  If you have been chosen for a tax audit, we recommend hiring a tax professional to help you through the IRS audit process because going into a tax audit without representation is like going to court without a lawyer!  Tax
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Are you being audited by the IRS?  If so, you should be scared!  And you should be seeking professional tax help. Period!  In the tax audit, the way you answer the 54 questions the tax auditor is asking you may dictate your fate!  Don’t face the IRS alone – be prepared with a tax professional in your corner!  Tax Resolution Services will help you through a tax audit but we
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When it comes to tax audits, the IRS wins 80% of the time. Taxpayers are deemed guilty till proven innocent, which means the IRS can start an audit by disallowing every deduction you made on a return until each one is proven to be legitimate. If a taxing authority has decided to audit you, it’s important that you don’t let yourself be pushed around by the IRS. Additionally, if
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