Due Diligence
Earned Income Tax Due Diligence By John Sapp, CPAVice President of Strategic DevelopmentDrake Software Over the past 5 or 6 years the IRS enlisted preparers to go beyond Circular 230 requirements and…
IRS Issues New Rules on Basis Allocation Rules for Partnerships
IRS Issues New Rules on Basis Allocation Rules for Partnerships The Internal Revenue Service (IRS) has issued a notice of proposed rulemaking and notice of public hearing related to the Disallowance…
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IRS Criminal Investigation Combats Identity Theft Refund Fraud
IRS Criminal Investigation Combats Identity Theft Refund Fraud The Internal Revenue Service (IRS) has seen a significant increase in refund fraud that involves identity thieves who file false claims…
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A Quick Primer for the 2014 Tax Season
A Quick Primer for the 2014 Tax Season Tax season has arrived, and with it a number of changes that can have a significant impact on both individual and business clients. While we don’t have the…
IRS Statistics on individual Tax Returns for 2011
IRS Statistics on individual Tax Returns for 2011 The Internal Revenue System has released its statistics on Tax Year 2011 individual returns filed in 2012. The data indicates some improvement in the…
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IRS Combats Identity Theft and Refund Fraud on Many Fronts
IRS Combats Identity Theft and Refund Fraud on Many Fronts Stopping identity theft and refund fraud is a top priority for the Internal Revenue Service (IRS). The agency’s work on identity theft and…
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IRS Audit of Individual Returns Hits Lowest Rate Since 2005
IRS Audit of Individual Returns Hits Lowest Rate Since 2005 The Internal Revenue Service audited 0.96 percent of individual tax returns in fiscal 2013, reaching the lowest rate since 2005, Bloomberg…
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Dangerous Liaisons
It is the proper reporting of wages to a domestic employee. A domestic employee is someone that you employee to work in or around your home. This can include individuals who are gardeners, landscapers, housekeepers, maids, caregivers, and even your handyman. For our discussion, let’s limit this to caregivers.…
National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Bill of Rights and IRS Funding
National Taxpayer Advocate Delivers Annual Report to Congress; Focuses on Taxpayer Bill of Rights and IRS FundingWASHINGTON — National Taxpayer Advocate Nina E. Olson today released her 2013 annual…
How to Fire an Employee
How to Fire an EmployeeTermination, Part IBy James StorkSenior Vice President, Drake Software No one enjoys firing an employee. Whether it is a seasonal worker or a permanent staff member,…
