Business owners subjected to a sales tax audit can take proactive steps to ease the process. Some tips that apply to most in this situation include: Cooperate. A recent publication in the CPA Practice Advisor notes a top mistake made during a sales tax audit is giving...
Can taxpayers offer the IRS a settlement?
Not everyone can pay their tax bill. These situations can impact anyone, including some of the Hollywood elite. Famous actor Wesley Snipes provides an example. The actor attempted to make a deal with the Internal Revenue Service (IRS) after getting a $23.5 million tax...
Making $20,000 has more IRS scrutiny than higher incomes
It would be easy to assume the IRS spends most of their time carefully looking over the taxes of highly paid individuals. After all, the more money that exists in accounts and investments, the more complex the assets can become. It makes sense it would be easier for...
