Running a business is quite tricky without increasing the complexity of filing taxes every year. The key, experts say, is to work with your financial advisor or an accountant throughout...
Posted by Debi G Hill, CPA on 01/23/2020
Notice of Underreported Income – CP-2000 The IRS gets data from third parties, for example, companies and financial institutions which don't correlate with the data...
Posted by Roland Zita, CPA on 05/20/2019
Cash dividends that are paid to someone on behalf of the holder of record are called Nominee dividends. In order to report the nominee income on their own return, the recipient of...
Posted by Larry Hurt on 04/17/2019
The IRS sends you an underreported notice when the information you gave on your tax return does not correspond with the information about your income in the files of the IRS. This...
Posted by J.R.'S TAX SERVICE on 02/19/2019
The Internal Revenue Service recognizes that sometimes, when a joint return is filed, both parties may not be responsible for a resulting tax liability. However, when a tax liability...
Posted by Advantage Tax Services, Inc. on 01/02/2019
No one wants to pay more income taxes than they are required to, but be careful if you do your own taxes. Attempting to cut your tax liability by getting into IRS grey areas can cause...
Posted by Tax Crisis Rescue on 12/29/2018
Offshore Voluntary Disclosure Program or OVDP is made primarily for those people who did know that they were actually needed to be reporting the foreign assets or income, and did not;...
Posted by Niner's Accounting & Tax Services, LLC on 09/14/2018
Many people get worried when they receive the notice of underreported income. They do not realize that it will be such a big problem for them but it actually become one. When you receive...
4 Ways To Survive A Dreaded IRS AuditThere are certainly horror stories in which IRS audits have led to the closure of businesses. Yet these are really worst-case scenarios....
Posted by Express Tax and Bookkeeping Services on 12/20/2016