Tax Lawyer's Blog

The IRS publishes more than 100 pamphlets and guides called IRS Publications.

The topics of these publications range from the very narrow, Publication 595- Capital Construction Fund for Commercial Fisherman, to the very broad, Publication 541 – Partnerships.

Here are the 5 essential publications every tax prepare and professional should read:

1.  Publication 1 – Your Rights as a Taxpayer

It all begins here. If you don’t know you’re rights, you can’t identify when they are being violated.

And remember never to assume that the IRS official you happen to be dealing with at any given moment either,  a) knows you’re rights; or b) is particularly concerned about ensuring that they are not violated.

2.  Publication 594 – The IRS Collection Process

Once the IRS has determined that you owe it money the matter is sent to its collection division.

Collection agents don’t know a whole lot about substantive tax return issues. This makes sense because they are not there to address your claims that the underlying tax debt is incorrect, but, rather, to collect it.

The collection process is very notice oriented. And whenever IRS notices are involved you must pay attention to deadlines included in those notices.

They are always there.

Publication 594 is a good primer on the collection process and should be carefully read by taxpayers who owe money to the IRS and (probably memorized) by the tax professionals who represent them.

3.   Publication 15 – (Circular E) Employer’s Tax Guide

If there is one area of taxation the IRS deems more important than others, its the collection and remission by employers of employment taxes.

Employers are in effect agents of the IRS  when it comes to the collection and remission of employment taxes.

The law requires that employees be given credit on their tax returns for the amount of withheld taxes taken from their wages regardless of whether their employer actually remitted those taxes to the government.

This means that employment taxes is an area where the IRS may be forced to dip into its own pocket to pay for the tax mistakes of a taxpayer.

Don’t mess with payroll taxes.

4.   Publication 509 – Tax Calendar

Every year the IRS publishes a list of important dates.

The Tax Calendar is an essential document for tax preparers and tax professionals in general.

Small business owners and taxpayers who prepare their own tax returns should download a copy at the beginning of each tax year.

5.   Publication 525 – Taxable and Non-Taxable Income

If you want to avoid the hoosegow, its a good idea to know the difference between what income is taxable and what is not taxable.

This publication will tell you that.

Caveat:

Tax professionals and self-preparers should not assume that everything contained in an IRS publication is a correct interpretation of the law.

Generally, IRS publications should be used only as starting points in your search for answers to all but the most rudimentary tax questions.

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