Archive for Blog

Is a monetary award for job discriminstion taxable as income?

  • August 1st, 2017
  • David Greene
  • Comments Off on Is a monetary award for job discriminstion taxable as income?

Unfortuantely, a monetary award of this tyupe is considered income by the IRS.  When someone is physically injured and gets a money award from settlemenet or trial, that money is not taxable.  The key words here are “physical injury.”  Emotional…

When are job search expenses deductible?

  • June 28th, 2017
  • David Greene
  • Comments Off on When are job search expenses deductible?

Some, but not all,  job-hunting expenses are deductible, according to the IRS.  To determine deductibility, keep in mind the following criteria:  The expenses must be spent on a job search in your current occupation; expenses looking for a job for…

What factors trigger a business audit?

  • June 6th, 2017
  • David Greene
  • Comments Off on What factors trigger a business audit?

There are two basic ways the IRS chooses a Form 941 Employment tax return to audit: 1. A computer program detects a return that has incorrect amounts or 2. Information from compliance projects (news media, public records, etc.) suggests the…

What Document Support Is Needed for Charitable Contributions

  • May 23rd, 2017
  • David Greene
  • Comments Off on What Document Support Is Needed for Charitable Contributions

Here are the rules for deducting charitable contributions and the supporting documents needed. Any contribution of $250.00 or more must be substantiated by a contemporaneous written receipt by the donee organization.  This receipt must state whether or not the donee…

Changes in IRS collection methods for 2017 that make it harder to resolve a delinquent taxpayer’s debt.

  • May 9th, 2017
  • David Greene
  • Comments Off on Changes in IRS collection methods for 2017 that make it harder to resolve a delinquent taxpayer’s debt.

Here are five new changes in IRS collections techniques. 1. The IRS is using private debt collectors for the third time.  They sometimes can be easier to deal with than a revenue officer, but usually they have less leeway in…

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