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.

List of 31 Tax Forms in Delayed Release

March 25, 2013

The taxpayer will be responsible for detailing how the late payment was connected to a specific delayed form or forms in order to qualify for a penalty waiver. Here is the entire list of 31 delayed forms.

Income Tax Head-Spin Season

January 25, 2013

If your head is spinning from all the new tax law changes, you’re not alone. Even the IRS’s own National Taxpayer Advocate (yes, there’s a person with that job) has reported to lawmakers that today’s tax code is so complicated it “obscures comprehension”. More than 60 percent of taxpayers must use the services of a professional to complete their tax returns.