Baker Law Firm, P.C.
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October 2016 Archives

Good record keeping may help your business survive a tax audit

A business must keep good records for practical reasons like tracking inventory and revenues, and simply to know whether its operations are “in the black.” However, the advice of an IRS publication is equally wise: Good business records may even stave off a tax audit.

Negotiating an IRS settlement might become more difficult

One of the advantages of consulting with an attorney regarding an IRS tax controversy or dispute is the settlement angle. An attorney’s training in negotiating may prove useful in estimating the litigation hazards and providing a ballpark settlement figure that would be reasonable under the specific fact pattern.

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