Just as there is a really big difference between Tax Fraud, Tax Avoidance, and Tax Evasion, there is a great distinction between Tax Planning and Tax Preparation. Unfortunately, many individuals have mistaken tax preparation and tax planning as they seem to be used interchangeably. Although they are both very important, they’re two totally different things. Tax planning […]
REVERSE TAX AUDIT A reverse tax audit is conducted by your CPA or a tax lawyer when it is suspected that sales taxes have been overpaid. In a self-assessing sales tax audit, the taxpayer reviews his or her own records and pays the dues that resulted from the review. In a reverse tax audit, your CPA […]
Tax evasion, tax avoidance, and tax fraud are all words that can be used interchangeably but have different meanings. One of these is legal while the other is not. Individuals and businesses that commit tax fraud and intentionally evade taxes can get into big trouble with the Internal Revenue Service. Individuals and businesses are allowed to […]
Getting calls, letters, or visits from IRS agents is scary enough for local taxpayers. They automatically associate the IRS with a negative connotation and think they are contacting you for collecting unpaid taxes and/or penalizing you for something. What can be worse than that? Getting calls and letters from fake IRS agents. IRS scams are increasing […]
Step # 1 When was the last time you filed your taxes? Don’t be afraid to file past-due tax returns in fear of the Internal Revenue Service knocking on your door. The trick is, no matter how late the return is, file your tax returns before the IRS has the chance to send you a […]
Preparing for and filing for the current year’s taxes can be a pain for local taxpayers. Actually, not the preparing for the part, but the fear of potentially being audited by the Internal Revenue Service. Although there is no way to know if you are for sure going to get audited or if you can […]
Getting unexpected letters in the mail can be odd enough, but getting unexpected letters by the Internal Revenue Services (IRS) can create fear in most individuals. What’s worse is having someone from the IRS knock on your door if you owe them money. Do you have tax debts you need to pay off? Uncollected taxes […]
Every business is struggling to make the ends meet in such conditions of economic lockdown. The times are tough on everyone. The bookkeeping companies are no different. They too are facing problems in marketing and fulfilment of their services. It is because of these problems; new strategies are being implemented by the more visionary kind of business owners. […]
