The IRS Audit Blog

Archive for October, 2006

Question: Filling out the W-4 IRS form?? HELP!!?

ok… im 21 years old… im single , and only have 1 job , no one claims me as a dependent…… what should I put on line # 5 on the form???… how many dependents??? whats my best option to get more money??

Answer: To get more money during the year, you could increase your # of dependents, but if you want more $ at the end of tax season, you would do 0. Technically, you should check single, and say “1″ exemption for yourself. This is the most accurate, will probably yield you a small refund, but put you as close to 0 without owing as possible.

Your 7-Step Mid-Year Money Checkup

Open your wallet wide. Use our step-by-step guide to giving your financial empire a mid-year tune-up.

Basic Explanation of W-4 tax Form : IRS Withholding Calculator & W-4 Tax Forms

Question: I have an IRA with Fidelity. Do I need to keep the monthly/quarterly statements?

Fidelity manages my IRA.
They have monthly/quarterly and yearly statements.
To comply with IRS regulations, do I need to keep the monthly/quarterly statements, or are the yearly statements sufficient?
If I understand correctly, the yearly summary does not list trades.

Answer: I,personally, keep all of them. That way, if there should be a discrepancy at some point, I have the paper trail.

Tax preparation companies praise new IRS regulatory plan

Tax preparation companies praised the Internal Revenue Service’s new plan, announced Monday, to start regulating tax preparers. The new regulations will require preparers to register with the government, pass competency tests, take continuing education and adhere to ethical standards.

Self Directed IRA Tips With Give the IRS the Slip

Question: Does the irs call people they are going to audit?

I had a message on my phone and so I called the 1-800 number, it answered the IRS. Evidently they called me, could it be an audit, should I get a hold of a tax attorney? I think it is for real. I file my taxes every year, although I haven’t yet.

Answer: If you have a unpaid tax bill and haven’t paid it, IRS may try to call you before taking enforced collection action.

A Guide To Five Top Online Tax-prep Sites

LOS ANGELES — You’re better off filing your tax return electronically rather than on paper in almost all instances. You’ll make fewer math and input errors, your taxpayer identification numbers are …

12/16/09: White House Press Briefing

Tax-preparation chains look to regain lost business

Tax preparation chains are marketing to potential customers affected by the recession and the government programs fighting it, seeking to reverse last year’s revenue decline.

Tips from the IRS – 2008 tax return–don’t miss out on free money!

Corrections

James Conrardy In Tuesday’s article regarding the sex crime case against James Conrardy, the Post Independent was given inaccurate information by the Denver District Attorney’s Office. Conrardy will have to register as a sex offender. Contrary information was received before the court file was completed after his sentencing hearing Monday. Mass transit Three errors appeared in an article about …

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