by Bill Houston | Nov 6, 2019 | Scams
We recently heard of a new twist on an old scam where fraudsters call up victims and threaten to cancel their Social Security number if they don’t pay their taxes. These scammers claim that they can suspend or cancel a victim’s SSN in an attempt to...
by Bill Houston | Nov 2, 2019 | General Tax Info
Many believe that returns filed later in the season are less likely to be audited. That’s an urban legend. All returns, whenever filed, are scanned for arithmetic errors and scored against top-secret internal algorithms. The higher the score, the more likely the...
by Bill Houston | Aug 22, 2019 | Business Audits
Apparently the IRS is focusing on small businesses that have reported losses in 3 or more consecutive years. Letters have gone out for the 2017 tax year advising some taxpayers that their business is being reviewed to determine if their ‘business’ is...
by Bill Houston | Aug 14, 2019 | Cryptocurrency, Uncategorized
As part of it’s outreach efforts, the IRS is sending letters to some clients with virtual currency transactions advising them of potential failure to report income and pay taxes resulting from currency transactions or advising that transactions may have been...
by Bill Houston | Jan 21, 2019 | General Tax Info
WE REVIEWED THE NEW TAX LAW AND THINK WE HAVE LISTED THE CHANGES HERE THAT AFFECT MOST PEOPLE. THIS IS NOT A COMPLETE LIST, JUST THE ITEMS THAT I THINK MOST PEOPLE WILL SEE. OUR RATINGS REFER TO THE EFFECT ON TAX LIABILITY. IF CHANGE COULD RAISE TAXES, IT IS POOR...
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