After hearing the news late last year that Congress had slashed the IRS’ budget, it surely crossed the minds of many of our readers that a tightened budget will mean that the agency will have fewer resources to conduct audits.Audits are already quite rare, with 99...
More Swiss and other non-U.S. banks continue to cooperate with the U.S. government under the Foreign Account Tax Compliance Act, and American taxpayers with offshore accounts should be sure to take action now to come into tax compliance. Hesitating could lead to...
If you have received a CP 2000 Notice from the IRS, you may be wondering what it means and whether you are being audited or you could be in trouble. We will address all of these questions today in this blog post.First of all, a CP 2000 Notice is a letter that the IRS...
No one enjoys paying taxes or dealing with the dreaded Internal Revenue Service. To make the process less painful, some individuals may seek the advice of a tax professional or accountant and others may take matters into their own hands. While there are ways to...