Crypto Archives - RMS Accounting

How Long Does The IRS Have To Audit My Tax Return?

Jun 2, 2023 | Blog, Business Tax, Personal Tax

In most cases the IRS has 3 years from the last day of the date your return was filed OR your return was due. However, this time limit, also known as the statute of limitations, can be extended under certain circumstances. The statute of limitations can be extended...

Taxes Are Voluntary Right?

Jun 1, 2023 | Blog, Personal Tax

WRONG. This is an old and false argument which the courts have dismissed time and time again. U.S. taxes are not voluntary. The U.S. tax system is based on the principle of compulsory compliance, meaning that taxpayers are legally obligated to pay their taxes as...

Can’t Pay Your Taxes, What Can You Do?

May 29, 2023 | Blog, Business Tax, Personal Tax

If you can’t pay the taxes you owe, don’t just ignore the IRS. Instead consider your options. The IRS offers a number of plans for those that can’t pay. These plans include: long and short-term payment plans, temporary collection delays for those experiencing...

How To Properly Use Your Accounting System

May 19, 2023 | Blog

Proper use of your accounting systems requires the system to be set-up properly. Set-up is a little different for each kind of business. Set-up starts with having a chart of accounts that is designed for your business. The kinds of revenue and expenses that a...

Answering The Digital Assets Question On Your Tax Return

Crypto Investors Need to Know

Archives

How Long Does The IRS Have To Audit My Tax Return?

Taxes Are Voluntary Right?

Can’t Pay Your Taxes, What Can You Do?

How To Properly Use Your Accounting System