Blog Archives

What Not To Wear…To an IRS Audit

Posted in Tax News on March 27, 2012

On TLC’s What Not to Wear Stacy and Clinton give a ‘make over’ to some lady that is, well…not dressed so well… Taxpayers that are being audited need to make sure they are putting their best foot forward right at…

Tagged with: Accountant, Audit, Auditor, Clinton, Clinton Kelly, Correspondence Audit, CPA, Field Audit, Form 2848, Income Tax, Income Tax Audit, Internal Revenue Service, IRS, IRS Audit, IRS Correspondence, IRS Field Audit, IRS Office Audit, National Research Program, NPR Audit, Office Audit, POA, Power of Attorney, Stacy, Stacy London, Tax Accountant, Tax Audit, Taxpayer, Taxpayer Representation, TLC, What Not to Wear

Ten Tips to Help You Choose a Tax Preparer

Posted in Tax News on March 7, 2012

The IRS has published 10 tips to help you choose a paid tax preparer to file your return this year. Even if a return is prepared by someone else, the taxpayer is legally responsible for what’s on it. So, it’s…

Tagged with: Attorney, Bank Account, CPA, E-File, Electronic Filing, Form W-2, Income Tax, Income Tax Return, Internal Revenue Service, IRS, Tax Form

How to Survive an IRS Audit from Hell

Posted in Tax News on February 29, 2012

Recently we helped a client survive an Internal Revenue Service (“IRS”) Audit. Ultimately, we got a very good outcome. The taxpayer owed $219. That’s as close to “No Change” as you can get!

Tagged with: Audit, Auditor, Books and Records, CPA, Form 2848, Form 4564, Home Office, IDR, Income Tax, Income Tax Audit, Information Document Request, Internal Revenue Servicue, IRS, IRS Audit, National Research Program, NPR Audit, Power of Attorney, Small Business, Taxpayers

2012 Tax Benefits Increase Due to Inflation Adjustments

Posted in Tax News on February 22, 2012

Every year the IRS must adjust the dollar amounts of a variety of provisions which affect every taxpayer, to keep pace with inflation. New dollar amounts affecting 2012 returns, filed by most taxpayers in early 2013 include the following:

Tagged with: 401(k) Plan, 457(6) plan, Charitable Contribution, child tax credit, CPA, Dependents, Donations, Employee, estate tax, Exemption, Gift Tax, Income Tax, Inflation, Internal Revenue Service, IRS, Itemized Deductions, Mortgage Interest, Personal Exemption, Social Security, Social Security Administration, Standard Deduction, Taxpayer, thrift saving plan, wage base

When is Cancelled or Forgiven Debt Taxable?

Posted in Tax News on January 25, 2012

If you owe a debt to someone else and they cancel or forgive that debt, the canceled amount may be taxable. This type of debt includes mortgages, credit cards, car loans and student loans. Lenders are required to send Form…

Tagged with: Bankruptcy, CPA, Forclosure, Form 1099-C, Form 982, Insolvency, mortgage, Principal Residence, Residence, Second Home, Student Loan

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885

Blog Archives

What Not To Wear…To an IRS Audit

Ten Tips to Help You Choose a Tax Preparer

How to Survive an IRS Audit from Hell

When is Cancelled or Forgiven Debt Taxable?

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Glastonbury, CT 860.646.2465 Niantic, CT 860.739.5459 Storrs, CT 860.429.7885

Blog Archives

What Not To Wear…To an IRS Audit

Ten Tips to Help You Choose a Tax Preparer

How to Survive an IRS Audit from Hell

2012 Tax Benefits Increase Due to Inflation Adjustments

When is Cancelled or Forgiven Debt Taxable?

Search

Links

Latest News

Categories

Get Free Tax Tips

Glastonbury, CT 860.646.2465
Niantic, CT 860.739.5459
Storrs, CT 860.429.7885