Posts Tagged ‘audit’

Here are the Dirty Dozen tax scams for 2018 according to the IRS.

  • May 9th, 2018
  • David Greene
  • Comments Off on Here are the Dirty Dozen tax scams for 2018 according to the IRS.

The Dirty Dozen: (1) Telephone scams threatening to have you arrested if you don’t pay immediately. The IRS will never call you asking for money. (2) Phony emails asking you to go to a website and give personal information.  The…

What kind of activities increase the chances of being audited?

  • April 24th, 2018
  • David Greene
  • Comments Off on What kind of activities increase the chances of being audited?

Some tax returns are more likely to be audited than others.  Why is this?  I can think of eleven practices that lead to a greater risk of audit.   First is using a “sketchy” tax preparer.  This is one who…

Learn how to protest the assessment of additional payroll taxes.

  • February 23rd, 2018
  • David Greene
  • Comments Off on Learn how to protest the assessment of additional payroll taxes.

We have discussed appeals in the past and one certainly might be able to appeal this notice of additional tax.  We need to know the answer to some questions first, such as: Has the tax actually been assessed or has…

Are automatic gratuities charged by restaurants tips or income?

  • January 23rd, 2018
  • David Greene
  • Comments Off on Are automatic gratuities charged by restaurants tips or income?

In a recent Fact Sheet (No. 2017-08) the IRS reiterated that mandatory service charges such as automatic gratuities charged for large dining parties and banquet event fees charged by the restaurant are income to the restaurant and not tips.  The…

How many different ways can the IRS try to collect taxes I owe?

  • December 12th, 2017
  • David Greene
  • Comments Off on How many different ways can the IRS try to collect taxes I owe?

This is a good question, but one that cannot be answered in a short space.  I will just discuss the primary methods. When one does not pay her taxes, she will first receive a friendly letter stating that she has…

Suggestions for Recovering Lost Financial Records

  • November 7th, 2017
  • David Greene
  • Comments Off on Suggestions for Recovering Lost Financial Records

Here are some suggestions for recovering your financial records if they are lost or destroyed in a hurricane or other natural disaster: (1) get a copy of your tax transcript from the IRS; (2) Request copies of records (bank statements,…

How can you prove expenses in an audit if you did not keep good records?

  • September 19th, 2017
  • David Greene
  • Comments Off on How can you prove expenses in an audit if you did not keep good records?

As you know, if you are audited  the IRS will not accept your word for income or expenses.  If they think you underreported income, they will go through all of your financial accounts and add deposits to determine income.  It…

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…

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