The IRS neatly describes an IRS audit as “a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.” This statement is clear; however, it certainly leaves many questions unanswered. Let’s take a look […]
It’s probably fair to assume that business owners don’t start companies for the enjoyment of withholding taxes from employees. Collecting trust fund taxes is just one of the many mundane tasks that employers are obliged to take on. Nonetheless, many employers find themselves staring down an expensive Trust Fund Recovery Penalty if they don’t. […]
In an article posted Accounting Today, the IRS has issued yet another scam: The Internal Revenue Service issued a warning Wednesday to taxpayers and tax professionals about a new email scam targeting Hotmail users in which the thieves try to steal personal and financial information.The phishing email has a subject line saying, “Internal Revenue Service Email […]