When it comes to dealing with the Internal Revenue Service (IRS), the old saying “The Devil is in the details” holds true. Businesses that are flagged for a tax audit will find the details matter.
No joke: IRS may be knocking on your door
In a move that seems to provide fodder for countless “knock knock” jokes, the Internal Revenue Service (IRS) recently announced it will increase the use of in-person visits to ensure taxpayers are in compliance with their tax obligations. As a result, that person knocking on your door who says they are from the IRS may be telling the truth.
IRS investigates syndicated conservation easement transactions
The Internal Revenue Service (IRS) recently announced an increase in investigations of syndicated conservation easement transactions. The agency has stated it will focus on falsely inflated deductions.
Can President Trump establish FL residence to save on taxes?
President Donald Trump recently announced he intends to change his residence from New York to Florida. The move is an attempt to save on state tax obligations. New York is notorious for its large state tax while Florida has none.
CA surprises Amazon merchants with state tax bills
The state of California just sent a Pennsylvania man a notice that he could owe over a million dollars in California state taxes. The tax bill is the result of a recent change in tax law that allows states to collect sales tax from those who sell goods to residents within their state even if they do not have operations in the state.
