Preparing and filing accurate business tax returns can be complicated. That’s why so many business owners rely on CPAs to help them navigate the complexities of the tax world. As a CPA, it is your responsibility to help your clients manage their tax compliance and achieve the best possible outcomes… [Read more]
Understanding Business Tax Rates By Entity Type
There are complicated rules, and they apply differently to businesses based on entity type, size, and a number of other variables. The good news is that, like a new language, it is possible to pick up enough basic tax knowledge to get by on a day-to-day basis and ensure your… [Read more]
How to Effectively Respond to an IRS Notice
Your Guide to Navigating an EDD Audit
In the face of a perceived increase in the number of independent contractors, the California Employment Development Department (EDD) has begun a campaign of stricter enforcement of employment tax laws. With EDD conducting more audits of California business’ employment records, business owners and their bookkeepers should be prepared for the… [Read more]
Large Cash Transactions: Your Reporting Responsibilities and Penalties for Failing To File
Businesses who are paid in cash have a responsibility to report payments over $10,000 to IRS using form 8300. Form 8300 is similar in function to a 1099 in that services paid for from one business to another usually generate a 1099, submitted by the company who received the work… [Read more]
Uber is being investigated for tax fraud
Al Capone | Leona Helmsley (AKA the Queen of Mean) | Spiro Agnew | Wesley Snipes (He thought he was Blade) The list of deplorable characters brought down for tax fraud may get another famous name… Uber. The notoriously culture-challenged ride-sharing service is being investigated by IRS for tax evasion… [Read more]
Outlandish Tax Cheats
Many taxpayers hedge their bets when filing their tax returns but most of us are careful to pay our fair share and stay on the sunny side of the IRS. Not so for these eight Americans who thought they could get away with cheating IRS. Read on to see how… [Read more]
Where do IRS investigations take place?
The job of IRS investigators is to validate their assumptions about your tax liability. When IRS investigators ask for an on-site visit, postponing that visit until after your Tax Attorney has had the opportunity to share the facts of the way your business runs with those investigators ensures that irreversible… [Read more]
What to Do if You Think You’re the Target of an IRS Criminal Investigation
Whenever you’re contacted by IRS, the first step any business owner should take is to reach out to a qualified Tax Attorney. There are questions a tax attorney can answer for you such as: What kind of an investigation is being conducted? What information is IRS actually asking for? What… [Read more]
What to Know When Your Client is Facing a Criminal Investigation by the IRS
There are few calls less welcome than a call from the IRS. It could come directly to your accounting office or you might hear from a client after they have been contacted. Either way, you need to take the issue seriously and act carefully because your immediate actions may negatively… [Read more]
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