Our Tax Season is in full swing now, and the entire staff is working themselves to death trying to keep up with the influx of projects. Regardless, nobody actually expects to die at work in a CPA firm. Other than clogging a few arteries with the ever present cookies and snacks that seem to [...]

Former US Secretary of the Treasury Timothy Geithner took a lot of heat during his confirmation hearings when it was revealed that he had not paid all of his income taxes in a timely manner. He was found to be short by almost $35,000, and blamed it on the Turbo Tax software that he [...]

Now that our tax season is ramping up, I thought it would be good to address the question that we get a lot: Will I get audited? Here’s the low down on IRS audits: Statistically overall audit rates have actually declined in the last couple years. Not only have IRS personnel been spread thin [...]

I was recently surprised to learn that the IRS’ website,  www.IRS.GOV, has a new feature. You can type in some personal data and download transcripts of your own tax return.  Wondering how well the government website designers had fulfilled this objective (call me a skeptic), I decided to give it a try. My first [...]

Wow, my last post was February? That’s a bit embarrassing as there has been a lot going on in the tax world. Our tax season last year was challenging to say the least, with twice as many tax clients being put on extension than normal. What with delays by Congress in modifying 2012 tax law [...]

The IRS has come out today and publicly warned taxpayers to be wary of phony IRS audit scams. They remind us that IRS never contacts taxpayers via email or social media to initiate an audit or to correspond with you directly regarding your account. Also: IRS never asks for personal info such as PIN [...]

  What would you do? You are minding your own business, and out of the blue you get a call from someone who claims she is from IRS, that you are being audited, and that lucky for you your case has been assigned to her. Lucky because she knows all about you and wants [...]

It’s that time again, Tax Filing Season! And with it come endless questions and articles about how to avoid a costly, nerve wracking, and time consuming audit from IRS. In my many years of dealing with IRS exams it is apparent that you cannot bullet proof any tax return from selection, but there are [...]

Well, Christmas has passed, and that means that the next big thing coming is…. the final throes of the 2012 tax planning period. Never mind parties, football, and the Rose parade. Who can think of anything else while there is still time to do a few things that will lower your income taxes for [...]

Each year, just in time to take the fun away from the Holidays, we reach out to our clients and attempt to project tax liabilities and recommend strategies to reduce their tax burden. It’s particularly important to think about this now, before year end, while you still have time to make changes to your [...]