IRS collection officials do not want you to hire a tax professional. Why? Because when you represent yourself the IRS has a decided advantage. First, it is easier for them to intimidate and frighten you because they know you don’t know the law. Second, it makes it infinitely more likely that their procedural mistakes, their over-assessments and their violations of your [...]
Tags: Announcements · Back Taxes · Taxpayer Rights
Today is my dad’s birthday. He would have been 88 years old. Happy birthday, pops. Bookmark & Share:
Tags: Announcements
Michelle Malkin reports that the transparency President has done another one of his patented Friday afternoon document dumps,¹ this time with the voluminous and highly complex IRS rules for implementing the tax provisions of Obamacare: (footnote is mine). If it’s Friday, it’s another White House dump day. Cue the dump truck horn: Doot! Doot! Doot! While Obama [...]
Tags: Announcements · News · Politics of Taxes
The economy added 200,000 jobs in December and President Obama is taking credit for it. The only problem is what he’s taking credit for happens to be tax cuts. Here’s an excerpt of Obama’s speech from the White House website (emphasis added): This morning we learned that American businesses added another 212,000 jobs last month … . And [...]
Tags: Announcements · News · Politics of Taxes
The AP reports that the IRS has continued to allocate more of its resources to the examination of the tax returns of the super rich: One in eight people earning at least $1 million annually was audited by the Internal Revenue Service last year, making them far likelier to be examined than those making below $200,000, [...]
Tags: Announcements · IRS Audits · News · Politics of Taxes
From Paul Caron: Year in Review: The 2011 Person of the Year, 134 Tax Notes 7 (Jan. 3, 2012): The dire state of tax politics became woefully evident in 2011, as fragile optimism about the possibility of tax reform bumped into the harsh reality of political intransigence. Democrats and Republicans each complained about the other’s [...]
Tags: Announcements · Politics of Taxes
The Treasury Inspector General for Tax Administration says the IRS needs to improve the quality of its audits of small corporations. Listen: TIGTA reviewed whether IRS examiners followed proper procedures and guidelines when auditing the returns of small corporations. The IRS defines small corporations as corporations with assets of less than $10 million. Many corporations in the [...]
Tags: Announcements · IRS Audits · S Corporations
