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Posts tagged "back taxes"

Tips for dealing with an IRS audit - Part 2

Continuing on last week's topic on tips for dealing with an IRS audit and avoiding penalties, it is important to be up front about any errors you may have made. For example, if you entered $10,000 instead of $1,000 for a line item, just own up to it as it will save time as well as demonstrate your integrity. Another tip is to locate the original receipts for any assets in which you are showing any depreciation for, even if the purchase of an asset goes back more than three years. The IRS can request purchase documentation for any asset on your schedule for depreciation.

State Franchise Tax Board zeroing in on back taxes

Those in the Bay Area who have been following our column understand that one of the main tasks of the Internal Revenue Service of late has been to collect uncollected taxes. The IRS has been using a carrot and stick approach to fill their coffers with the money owed.

Congress considers credit bureau alerts for unpaid taxes

In previous posts we have mentioned that the Internal Revenue Service is attempting to crack down on those with unpaid taxes. Whether it is someone who made an honest mistake or it is well-planned tax evasion, the IRS is going after unpaid income taxes.

Federal agencies found to owe payroll taxes, is IRS collecting?

Virtually everyone must pay some sort of taxes. For a sole proprietor, small business owner or other business with employees, one of the types of taxes which must be withheld and paid for employees is the payroll tax. The Internal Revenue Service does not look favorably upon unpaid payroll taxes. Or does it?

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