Great Accounting Firms Share These 10 Traits
Great Accounting Firms Share These 10 Traits which has gone far beyond the paper-pushing days and now involves acting as a virtual CFO
tax accountants in miami
An IRS Tax audits is a review/examination of an organization’s or individual’s accounts and financial information to ensure information is reported correctly according to the tax laws and to verify the reported amount of tax is correct.
Why am I being selected for Tax audits?
Selection for Tax audits does not always suggest there’s a problem. The IRS uses several different methods:
Random selection and computer screening – sometimes returns are selected based solely on a statistical formula. We compare your tax return against “norms” for similar returns. We develop these “norms” from Tax audits of a statistically valid random sample of returns, as part of the National Research Program the IRS conducts. The IRS uses this program to update return selection information.
Related examinations – we may select your returns when they involve issues or transactions with other taxpayers, such as business partners or investors, whose returns were selected for Tax audits.
Next, an experienced Tax auditor reviews the return. They may accept it; or if the Tax auditor notes something questionable, they will identify the items noted and forward the return for assignment to an examining group.
Should your account be selected for Tax audits, we will notify you by mail. We won’t initiate Tax audits by telephone.
The IRS will provide you with a written request for the specific documents we want to see. Here’s a listing of records the IRS may request.
The IRS accepts some electronic records that are produced by tax software. The IRS may request those in lieu of or in addition to other types of records. Contact your Tax auditor to determine what we can accept.
The law requires you to keep all records you used to prepare your tax return – for at least three years from the date the tax return was filed.
Fiat money
Fiat money is made legal tender by a government decree or fiat. It does not have intrinsic value. It has value only because a government maintains its value
Taxpayer Bill of Rights IRS Launches National Tax Settlement Month
Taxpayer Bill of Rights have the right to know what they need to do to comply with the tax laws. They are entitled to clear explanations of the laws and IRS procedures
Hiring Remote Employees Could Raise Your Taxes
Hiring Remote Employees Could Raise Your Taxes if you hire them in a state different from your company’s home state due to complex state tax nexus laws
Accountant Miami 7 Reasons the IRS Will Audit You
Accountant Miami 7 Reasons the IRS Will Audit You. Minimize the tax gap or the difference between what it is owed and what it actually receives according to IRS
Get Your Prior Year Taxes Information from the IRS
Accounting services for small business point out there are three convenient options for getting Prior Year Taxes transcripts from the IRS: on the web
Tax Accountant in Miami Fee Pressure
Tax Accountant in Miami were in the throes of fierce pricing pressure, telling horror stories of ruthless underbidding and price gouging
Accountant Explains How IRS Audit Can Become Criminal Investigations
Accountant note criminal investigation can start from a standard audit, or a snitch.
Tax to Financial Planning
Tax to Financial Planning to Tax Preparation Requires Expertise that as Accountants in Miami we can provide with over 30 years of tax planning experience.