Free Download
If you’re having tax problems

Tag: IRS Audit

Why You Should Hire a Tax Attorney for Your Tax Audit Defense

Tax audit defense

Only a few occasions such as a visit to the doctor can invoke the same dread that you get when you have an upcoming tax audit by the IRS. Any taxpayer that has never been audited before can easily dismiss these fears as they are unsure of what to expect. However, this uncertainty can only… Read more »

Being Audited by the IRS But Don’t Have Any Receipts?

being audited by the irs and no receipts

  IRS Record Keeping Guidelines The Internal Revenue Service generally advises taxpayers to retain copies of all tax returns and any relevant supporting documentation for at least the previous three tax years. The IRS also provides an extensive list of the types of records they may request if you are audited. These include: Receipts Bills… Read more »

Appealing the Findings of Your IRS Examiner: Should You Appeal?

Appealing Audit

  All you need to know about appealing your IRS findings The Internal Revenue Service better known as the IRS is the governmental agency that ensures that you “give Caesar what belongs to Caesar”. In other words, it conducts the fundamental function of tax collection on a nationwide scale. And so given the importance of… Read more »

How IRS Audits Can Become Criminal Investigations

IRS criminal investigation

IRS Criminal Investigation Division In our day-to-day lives, one usually has to try to find himself (or herself) on the wrong side of Law Enforcement.  That is of course, not counting basic traffic infringements (which are hardly considered criminal).  But in all other respects, it is mostly pretty easy to go about our day and… Read more »

Statute of Limitations for IRS Audits

IRS tax audit

The Three Year Rule The IRS generally has three years from the date a return is filed or due to issue a Notice of Deficiency. If this period has expired, the IRS can’t assess additional tax against your return, which should alleviate any of your worries about an IRS tax audit. Before you breathe a… Read more »

How the IRS Audits Marijuana Dispensaries

What to Expect in an IRS Audit of Your Dispensary (or other cash business) Marijuana dispensaries are five times more likely to face an IRS cash business audit. In 1970, lawmakers approved Section 280E of the Internal Revenue Code as a punitive measure in the “war on drugs” which was just starting at the time…. Read more »

Some Common IRS Audit Questions for Cash Businesses

IRS Audits Marijuana Business

Questions to Expect if Your Marijana Business Gets Audited When an IRS agent audits your marijuana dispensary (or other cash business) and says s/he has a few questions, it’s almost never about the proper strain for anxiety or muscle pain. In fact, since the IRS has already completed most or all of the groundwork, this… Read more »

How the IRS Audits Income for Cash Businesses

Cash Business Audit

The IRS Has Several Methods for Figuring Out Cash Income When treasury agents get the scent of unreported income in their nostrils, they always use a variation of the good cop-bad cop routine. Sometimes before they even drop the A-word, auditors begin asking seemingly friendly questions about perceived income discrepancies. If they do not get… Read more »

What Do I Need To Know About Paying FET Taxes?

federal excise tax - semi truck and trailer

FET Tax Overview Back in the day, paying FET taxes (the federal excise tax), along with tarriffs, was the cornerstone of the federal government’s revenue stream. Although the income tax, and especially source withholding of income taxes, changed the picture dramatically, the FET tax is still around, it is still high, and the Treasury Department… Read more »