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Just Great! IRS says that you can’t rely on IRS instructions

by Bill Houston | Jan 29, 2018 | Bizarre Tax Facts

So, you would think that if the IRS provided instructions, you could rely on them when filling out your tax return.  I think that is only common sense. However, that is not the case.  In what to me seems to be a classic case of lack of accountability, the only...

IRS Can Use Credit Card Data From 1099-K’s to do more Tax Audits

by Bill Houston | Jan 28, 2018 | Business Audits

The IRS is likely to be auditing more tax returns when a discrepancy is seen between payments reported on Form 1099-K and the income reported on tax returns. If you are in business, and you take credit cards for payment, you are likely receiving a 1099-K at the end of...

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