The IRS Audit Blog

Archive for February, 2006

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Question: No rental history can I get a mortgage?

I have been pre qualified for an FHA loan. I ahve no rental history. I have lived with my girlfriend for 9 years, but not on the lease. He takes cash or money order so we only have handwritten reciepts which I don’t think will fly.The landlord will sign the verification form, but needs to know will there be any trouble for him with the IRS for example? What does the lender do with these verification forms? DO they go to the IRS or HUD or FHA or are they just for the use of the mortgage company? So can I go for a mortgage with this sheet filled out or should we rent for a year with a rental that is a managed company . I am thinking maybe this landlord isn’t reporting all income on taxes, but I don’t want to cause problems for him or my girlfriend.

Answer: FHA does not check rental history and your landlord is not involved. They will not be investigating your landlord. They are trying to verify that you are who you say you are.

Your CREDIT history (rent is not credit) and income is all they are interested in.

Tax season looms: Electronic filing begins on Friday

LAS CRUCES — Believe it or not, the deadline to file a tax return is just slightly more than three months away.

can the irs seize my bank account paycheck and social security

Question: When is 3rd quarter payroll tax payment and form 941 due?

I am a little confused about the payroll tax. I need to know when I need to have the payment to the IRS.

Answer: Read the instructions for Form 941 http://www.irs.gov/pub/irs-pdf/i941.pdf carefully. It’s all clearly explained there. The 3rd quarter return is due no later than Oct 31, 2009.

Normally you are required to make monthly or semi-weekly payroll tax deposits or EFTPS payments, not pay with the return. There’s an exception to that rule if the total tax is LESS than $2,500 in which case you can enclose a check with Form 941-V with the return. Again, this is all explained in the instructions linked above.

Payroll Network Supports The Greater Washington Society of CPAs Educational Foundation Web Site

Payroll Network, www.payrollnetwork.com, a local, independently-owned payroll management company, advises accounting professionals for nonprofit organizations through www.nonprofitaccountingbasics.org, a new Web site launched by The Greater Washington Society of CPAs Educational Foundation, with the generous support of the Eugene B. & Agnes E.

Can Pay Pros Administer 401ks

Question: IRS Audit for Amended Return?

I have a small business (restaurant).

My 2005 tax returns were totally off. Gross sales and COGS were off 110% ($50K to110K and 26K to 55K), and lots of deductions were not included. This is a family business and my brother did the returns and totally screwed up. The old 2005 return paid the IRS $350. With the amended returns, I’m going to be paying them $1300. The amended return numbers are pretty similar to my past returns.

I’m really paranoid because I’m afraid this might trigger an audit

Answer: You will be paying them $950 more with the amendment and they may want some interest. That is likely the last you hear about it. If you can support the numbers on the amendment why worry about an audit. In most cases if you are not trying to do something wrong an audit is no big deal other than the time it take to prepare.

Nett: New tax rules now in effect may affect your preparations

There weren’t any big, sweeping changes in the federal tax law for this year, but there were a few tweaks here and there – things to have in mind when you meet with your tax preparer about your 2009 Form 1040, and things to know, or at least think about, as you do business in 2010.

Question: What should I expect in a Texas Sales Tax Audit?

We are going thru a irs audit. The auditor contacted the state, and now they are auditing us too. I went to the first state audit meeting where I gave them our books. We owe. The person called us twice. I have not heard from him since. I’m afraid to call them to see what the hold up is. Its several months. The irs audit is not over yet. Would the state be waiting for the federal findings or what.

If you work for the State of Texas Comptrollers office, please reply.

Answer: I don’t work for the State of Texas but you should call them if you are worried.

Another approach is to forget it. Sometimes with staff turnover and the various audits going on, you could be forgotten. The statue of limitations may run and they will have to audit you in a latter year.

When you say that you owe, did you get a notice? If so you really need to follow up on it so you can resolve it and stop interest from running.

IRS places tax lien on Doc Anderson

The Internal Revenue Service took action against state Rep. Charles “Doc” Anderson, R-Waco, and his wife for failing to pay federal income taxes for 2003, 2006 and 2007.

Community TAx Center-Shadow Brook VITA

Question: Tax Attorney in Florida Reccomendations needed!?

Dear Friends,

I plan to hire a Tax Attorney or Criminal Defense Attorney with expertise in Tax Law in order to meet with an IRS Criminal Investigation Officer, since my friend was requested by this officer to meet him in his office.

Any recommendation of experienced attorney in Florida, preferably in Miami area, will be greatly appreciated.

Kevin

Answer: I don’t have a true reference, but I just went and searched on “tax attroney miami florida” and here are the results.

http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls=DAUS,DAUS:2006-11,DAUS:en&q=tax+attorney+miami+florida

NFL Capsules: Mangini staying with Browns

CLEVELAND — Eric Mangini pulled off his biggest win yet. Mangini will return for a second season as Cleveland’s coach, a surprising personal victory following a four-game winning streak by the Browns that may have saved his job.

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