by Steven J Weil, PhD, EA, LCAM | May 9, 2023 | Blog
With the IRS adding 87,000 employees, and many of these employees being assigned to compliance, the fact is you are going to be seeing more audits and more additional information requests for IRS. While this may make many taxpayers nervous, worrying will not help....
by Steven J Weil, PhD, EA, LCAM | May 7, 2023 | Blog
The IRS warns about Offer in Compromise (OIC) “mills” that often mislead taxpayers into believing they can settle a tax debt for pennies on the dollar. These scammers mislead people who don’t meet the qualifications into paying excessive fees. While...
by Steven J Weil, PhD, EA, LCAM | May 5, 2023 | Blog
The IRS warns high-income taxpayers about abusive transactions involving Charitable Remainder Annuity Trusts (CRATs) and monetized installment sales. These types of transactions can be abused by promoters of tax schemes with the taxpayer being on the hook for...
by Steven J Weil, PhD, EA, LCAM | Mar 29, 2023 | Blog
The IRS is warning individuals to stay alert and be weary of shady tax preparers. Watch for warning signs, including charging a fee based on the size of the refund or asking you to sign a blank return. Check out the IRS’ annual Dirty Dozen campaign, a list of 12 scams...
by Steven J Weil, PhD, EA, LCAM | Mar 2, 2023 | Blog, Business Tax, Personal Tax
According to the GAO the audit rates for individual income tax returns from 2010 to 2019 went from 0.9 percent to .025 percent. Rates dropped even lower during Covid but this is getting ready to change. With the hiring of a projected 87,000 new auditors and a...
