There have been many recent news stories on how the IRS is cracking down on businesses claiming Employee Retention Tax Credits (ERTCs) based on improper positions related to eligibility requirements and credit calculations. On October 21st, the IRS issued a press release warning employers to be … [Read more...] about IRS Warns Employers About Third Parties Promoting Improper ERTC Claims
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Taxpayer Advocate Service – the “Taxpayer’s Voice” at the Internal Revenue Service (IRS)
It would be safe to say that no one wants to deal with the Internal Revenue Service regarding an unresolved tax issue. It can be quite daunting and, in some instances, lead to no results despite your best efforts. When such a situation exists, there may be another option available to resolve your … [Read more...] about Taxpayer Advocate Service – the “Taxpayer’s Voice” at the Internal Revenue Service (IRS)
What Is An “IP PIN,” and Do I Need One?
In times where identity theft is rampant, it may be a good idea to apply for an Identity Protection Personal Identification Number (IP PIN) as an added layer of protection when filing your federal income tax return. The IRS IP PIN is a 6‑digit number assigned to eligible taxpayers to help prevent … [Read more...] about What Is An “IP PIN,” and Do I Need One?
Top IRS Audit Issues
IRS audits are on the uptick, as IRS employees are returning to a more normal schedule, post pandemic. What are the top 10 areas on which auditors are focusing? Unreported income: Auditors have many techniques to search for unreported income, but among the more commonly used is the bank deposit … [Read more...] about Top IRS Audit Issues