IRS Audits Target Small Business Owners

April 18, 2013

Now preliminary findings of a TAS study on taxpayer compliance seems to confirm what many small business owners suspect; small business owners, especially sole proprietors, are under more scrutiny and are more likely to be audited.

Last Minute Tax Saving Tips

With just a few more days until the 2012 income tax filing deadline, there are still a few tax-cutting moves you may be able to make on or before April 15th.

The Cost of Filing Late & Paying Late

April 8, 2013

When it comes to filing your income tax return and paying the taxes you owe, don’t expect any favors. You face penalties for failing to file and filing late; and, if you also owe taxes, you face penalties for failing to pay and paying late.

IRS Allows Late-Payment Penalty Waiver

March 21, 2013

The IRS has announced it will waive the penalty normally assessed for late payment of income tax for taxpayers who are affected by the delayed release of 31 different forms commonly used for tax preparation.

Late Forms from IRS Lead to Protest

March 4, 2013

CPA firms and organizations throughout the country are doing their part to petition for taxpayer relief. These organizations are raising a question of fairness, as taxpayers wait on the IRS, though IRS deadlines aren’t waiting for taxpayers.