You need to be wary of what information the IRS requests for an audit and why. If you have received an IRS "Letter of Notification" informing you of an upcoming audit your first action to be to contact us at 866-631-3470. Dealing with the IRS is serious business, and the...
An IRS Field Audit in San Diego
What is an IRS Field Audit and why should you be concerned by this? It means the IRS wants to come visit you in your home, or at your office. An IRS Field Audit is as serious an audit as you can face, and the genuine risk is what we...
Do I Have to Provide Information Requested by an IRS Auditor?
Do I have to provide information requested by an IRS auditor? No, you do not necessarily have to provide every piece of information requested by an IRS auditor, and you certainly do not have to provide additional unrequested information in an attempt to establish your trustworthiness. There are specific laws,...
Has the IRS Stopped Collecting Taxes From High Income Earners?
Has the IRS stopped collecting taxes from high income earners? Is past performance an indicator of future risk associated with an IRS audit? A recent Newsweek article flatly stated “The government just admitted it doesn’t really try to collect rich people’s taxes.” A recent study by Syracuse University researchers showed...
IRS Extends the Personal Tax Deadline to May 17 2021
Many US taxpayers have reacted positively to the news as the IRS extends the personal tax deadline to May 17 2021 from the usual deadline of April 15. For the second year in a row the Internal Revenue Service has give Americans an extra amount of time to submit personal...
Failure to Make a Full Disclosure of Offshore Accounts to the IRS
What are the risks and penalties of the failure to make a full disclosure of offshore accounts to the IRS? What happens if you have not included all of your offshore bank accounts, assets, investments, foreign trust and foreign corporate ownership interests to the IRS via FBAR or associated IRS...
The Taxpayer Bill of Rights – 10 Fundamental Rights for US Taxpayers
Are you aware of the Taxpayer Bill of Rights? We are reminded, especially during tax season, that taxpayers have 10 fundamental rights in dealing with the Internal Revenue Service, and that IRS employees are expected to understand and apply taxpayer rights throughout their process. This applies to an IRS audit...
IRS Revenue Officer Interviews Allow the IRS to Gain Additional Information to Use Against You
Why should you be cautious about IRS revenue officer interviews in San Diego? What are the risks to a US taxpayer in an IRS audit? If you have received a notice from the IRS regarding a tax audit you probably already realize the potential hazards you face in the immediate...
How does the Attorney-Client Privilege Protect You in an IRS Audit?
How does the attorney-client privilege protect you in an IRS audit?? Why is it so important to work with an experienced tax attorney compared to a CPA, tax preparation team, accounting firm or financial advisor?? The answer is "protection."? You need to be able to provide your counselor with detailed,...