A commissioner with the Internal Revenue Service said the federal agency needs to improve the way it approaches audits for small businesses. The commissioner told a crowd at a conference held by the Institute of Certified Public Accounts that the IRS needs to more carefully select each small … [Read more...] about IRS official calls for better small business audits
Race car driver audited for alleged tax missteps
It is the phrase that no Texas resident wants to hear: "You are being audited." Audits can prove taxing not only on residents' finances, but also on their emotional health. In some cases, the Internal Revenue Service even requires individuals to pay overdue taxes through wage garnishments and … [Read more...] about Race car driver audited for alleged tax missteps
Tax filing season delayed due to government shutdown
Although the recent government shutdown negatively impacted many businesses and individuals, Texas taxpayers and everyone else will still have to file on time, or face the usual penalties and interest. For the second time in as many years, the Internal Revenue Service (IRS) will begin accepting … [Read more...] about Tax filing season delayed due to government shutdown
Rihanna blames accountants for IRS audit
Pop artist Rihanna is reportedly ready to settle a lawsuit she brought against her former accountants, but a federal judge recently announced that she must appear before a court mediator in person to do so. The popular singer sued accounting business Berdon LLP for allegedly mismanaging her money. … [Read more...] about Rihanna blames accountants for IRS audit
IRS shutdown causes problems for some taxpayers
The government shutdown may have caused some Texas taxpayers to rejoice at the news that the Internal Revenue Service would be temporarily halting the generation of new liens and levies due to large scale employee furloughs, effectively protecting thousands of individuals accused of being delinquent … [Read more...] about IRS shutdown causes problems for some taxpayers
IRS to stop seizing assets from delinquents during shutdown
The recent government shutdown prompted in part by junior Texas Senator Ted Cruz could have unexpectedly positive effects for individuals with delinquent income taxes. This comes after the Internal Revenue Service announced that it would suspend all new asset seizures and will only enforce existing … [Read more...] about IRS to stop seizing assets from delinquents during shutdown