Category Archives: IRS

There Is an Income Tax and You Must Pay It

Posted on February 6, 2010 by Russ

When I ran West Coast operations for a telecommunications company, we hired a new employee. As per company policy, before he started work we had him fill out all the company paperwork. That individual handed the customer service manager a … Continue reading →

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IRS Street Addresses

Posted on February 2, 2010 by Russ

A reader emailed me today and said, “Why haven’t you posted your list of IRS street addresses this year?” Well, the answer is that none have changed. Still, it’s time again for the list. Most taxpayers use the Postal Service … Continue reading →

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Donations to Haiti Relief Via Online Gambling Websites

Posted on January 26, 2010 by Russ

I’ve received quite a few inquiries asking about making a donation to Haiti earthquake relief via an online gambling website. Here’s the latest: An online poker site is saying that if I transfer funds to a specific account, they’ll use … Continue reading →

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Payroll Tax Companies & Registration of Tax Professionals

Posted on January 24, 2010 by Russ

The IRS came out with a FAQ on the new regulations of tax professionals. Among the nuggets on the FAQ is that payroll tax companies will have to register (though they may not have to take the competency exam) and … Continue reading →

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Haiti Charitable Tax Deduction Legislation Likely

Posted on January 17, 2010 by Russ

In a rare show of bipartisanship, Democrats and Republicans plan on introducing joint legislation to allow Americans to claim a tax deduction for charitable contributions to Haiti earthquake relief in 2009 though the deductions are made in 2010. I expect … Continue reading →

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IRS Tips on Choosing a Tax Preparer

Posted on January 12, 2010 by Russ

The IRS has come out with its annual list of tips in choosing a tax professional: 1. Check the person’s qualifications Ask if the preparer is affiliated with a professional organization that provides its members with continuing education and resources … Continue reading →

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More on Tax Preparer Licensing

Posted on January 6, 2010 by Russ

I was at an audit this afternoon at the Laguna Niguel IRS office. The return (prepared by an unenrolled preparer) had gross errors. Frankly, any competent preparer should have caught these errors. Unfortunately, the individual who prepared the original return … Continue reading →

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Licensing of Tax Preparers Is Coming

Posted on January 4, 2010 by Russ

The IRS announced this morning that it will soon require registration and exams for most tax preparers who are not regulated. The report in the Wall Street Journal notes that the changes “will take several years to implement and will … Continue reading →

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What’s Good for the Goose Is Good for the Gander

Posted on December 30, 2009 by Russ

If you move and don’t notify the IRS, bad things can happen. The IRS can send to your last known address a Notice of Deficiency. Even if you don’t receive it, it will be considered received if it was sent … Continue reading →

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Who’s in the Crosshairs?

Posted on December 28, 2009 by Russ

The IRS released their Fiscal Year 2009 Enforcement Results last week. Business audits are down while individual audits are up. If your income is over $1 million, you have a 6.42% chance of being audited. If your income is under … Continue reading →

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