The IRS Audit Blog

Archive for April, 2007

Question: Business use over 6000 lb Vehicle?

Section 179 of the irs publication:
if i have written the check/paid for the vehicle in 2006 however is it on back order and does not arrive until january 2007, can i take the deduction in 2006???

Answer: Judy is correct, but I will also point out that the rules for section 179 expensing a vehicle change in 2007. It isn’t just that the vehicle has to be over 6,000 pounds. You can get more info on this at www.irs.gov. search 179 deduction or luxury auto. You should find the new rules.

Making Your Home Office Deduction Stick

Proper documentation could be your saving grace in case of an audit.

IRS-Deductions.org A Tax Deduction Guide To Reduce …

New Roth IRA rules may lower tax bill

With government revenues low and spending high, it’s no wonder that new tax rules have emerged. The new Roth IRA rules may be one of the few tax changes that provide a win-win opportunity for both inv…

Self Directed IRA VIDEO :: CUSTODIAN :: Rollover 401k To IRA :: Real Estate IRA Services

Question: Employer showed additional $40,000 in income, which i did not earn.?

I worked for the employer and initially earned $13,000 and i received the W-2 form for the income and i filed the taxes for $13,000. Received letter from the IRS that the employer showed addition income for fishing income $12,790, another income $12,790, rental loyalty $13,990.
I don’t understand the additional income showed by the employer and how can is dispute. ( The employer never gave me any document regrading the addition income shown on the IRS). I NEVER RECEIVED THE ADDITIONAL INCOME SHOWN IN THE IRS DOCUMENTS BY THE EMPLOYER

Answer: Go to the Human Resources Department of the company where you work. They can help explain what is going on. Also, call the person who does your taxes. You don’t by chance work on a boat? Are you sure somebody else isn’t using your Social Security Number? Identity theft can cause strange things to happen with your taxes. Call the IRS to see if anybody worked for a different company using your SSN.

Experts: Bankruptcy not automatic fix for hospitals

In the current economic climate, one bad decision can set off a chain reaction toward bankruptcy, health care experts say.

Deafhood Foundation????

LLC tax sparks lawsuit

A suit filed this week claims the state’s controversial expansion of the 5 percent interest and dividends tax to limited liability companies violates New Hampshire’s Constitution.

RE: What to write off for your massage business

Question: i am recieving the stimulus rebate check. can i track it useing the where’s my refund on the irs website?

Answer: no they dont even issue this check till may and then it will delivered to you in the way you got your tax refund..and here is the website that says the same thing basically

http://www.irs.gov/app/espc/

MICHELLE SINGLETARY: Know the rules, rights this tax time

By MICHELLE SINGLETARY WASHINGTON | Most of us don’t do our own tax returns. My husband did ours for years. He finally surrendered, too frustrated with the never-ending task of keeping up with the many changes to the tax code. We now pay a professional, and it is money well spent to pass on the aggravation to someone else.

How to Import Information from ItsDeductible to TurboTax