The IRS Audit Blog

Archive for December, 2008

Question: I filed for my Economic Stimulus Payment online and I wasn’t given an amount for my refund so I can’t used the

automated hotline or look online for any information for it. I tried calling the IRS via 800 number given on the IRS.gov website, everytime I call to try and verify that my return was recieved and maybe find the amount of my rebate but everytime I try to call they send me to the automated line even though I tell them that I can’t use it because I don’t have all the information I need. I don’t know any other specific numbers I could call to talk to someone to find out if I am in fact getting the Stimulus Payment and what the amount will be. Does anyone have any suggestions of who I could call?

Answer: Well, I need to start by saying that you don’t file for the stimulus payment. You just file your taxes for 2007, and you’re automatically in the system to receive the stimulus payment, if you’re eligible. If you filed after April 15, your payment may be delayed.

The questions that their automated system asked are all based on the data that should have been submitted on your tax forms. If you processed these online, you should be able to go back to the site where you filed them, and find a copy of what was submitted. This should allow you to answer all of the questions in the automated system.

The IRS is the only organization that will have the details. If you can’t get the info from them, you’ll just have to wait until you get your check to confirm how much you’ll be getting.

IRS Tax Tips for 2010 filing season – #19

Get Your Refund Faster – Choose Direct Deposit

RC Car Racing: RCTVLIVE show #718 (IRS Shock Wave, Oval Nats

Question: How do I file a partnership return (LLC)?

My brother and I have an auto repair business. I know form 1065 is for partnership. Do I fill out this form first? What about K-1? Do I send out form 1065 and recive a k-1 from IRS or k-1 is generated by itself? I know I should have a professional do this, but at this point I can’t afford it.
Thank you.

Answer: The 1065 and K-1 work together in that the 1065 tells the IRS as a whole what the partnership or LLC did over the year and the K-1 is what the partner uses to report his/her share on their personal tax return.

You will need to first fill out the 1065 and submit that to the IRS. Then you will have to fill out a K-1 for yourself and your brother.

If you are using tax software, it should generate a K-1 for all the partners.

Good luck.

Watch Out for Hidden Tax Traps Inside ETFs

Exchange-traded funds that hold “alternative assets” are taxed so differently, and at such higher rates than traditional investments, that many investors now wish they had looked before they leaped in.

March 10, 2010 – 12/12 – Tax Questions

Question: are they really home business job in the usa/?

well , hi am honeyofblessing , i have the key to real home business job, all you need is a w-9 form , and ein form from the irs, you will be your our boss let me show you how , also a good website ,search engine, banner, blog , , and we can do buzinessand your computer

Answer: Are you asking or are you offering?

If you are offering then what you offer is very confusing and sounds like a scam for there is no contact available to reach you. Most scams like to stay anonymous of course.

Or are you a retiring millionaire sharing his secrets with a lucky few for mere $47.00? Or some beach bum who stumbled over a secret making millions now who wants to share it with everybody who can read for only $49.95, limited time only?

Which of the four above is it?

KELLNER: Federal websites satisfy customers

Americans, by and large, are satisfied with federal agency websites, a survey released Tuesday finds. Citizen satisfaction with government websites remains high into the second year of President Obamas administration, according to the study of more than 250,000 website visitors performed by ForeSee Results, a research firm in Ann Arbor, Mich. Satisfaction with government websites climbed to an …

IRS Plane Crash.— US Citizen Terrorizes The IRS

Question: Accounting help for study guide?

1)Which list below best describes the major services performed by public accountants?

A)Employee training, auditing, bookkeeping
B)Auditing, taxation, management consulting
C)Cost accounting, production scheduling, recruiting
D)Bookkeeping, mergers, budgets

2) Preparing tax returns and engaging in tax planning is performed by

A)both public and private accountants.
B)IRS accountants only.
C)public accountants only.
D)private accountants only.

3)The private sector organization involved in developing accounting principles is the

A)Financial Auditors’ Standards Body.
B)Financial Accounting Studies Board.
C)Financial Accounting Standards Board.
D)Feasible Accounting Standards Body.

4)When an owner makes a withdrawal

A)the drawing account will be increased with a credit.
B)the drawing account will be decreased with a debit.
C)it doesn’t have to be cash, it could be another asset.
D)the capital account will be directly increased with a debit.

Answer: 1)Which list below best describes the major services performed by public accountants?
B)Auditing, taxation, management consulting

2) Preparing tax returns and engaging in tax planning is performed by
A)both public and private accountants.

3)The private sector organization involved in developing accounting principles is the
C)Financial Accounting Standards Board.

4)When an owner makes a withdrawal
C)it doesn’t have to be cash, it could be another asset.

Labour and Employment

Several years ago, the Internal Revenue Service (IRS) established a special schedule, known as the six-year “remedial amendment” cycle, for so-called “pre-approved” qualified retirement plans to adopt revisions reflecting changes in applicable law.

Tim Geithner Even Ron Paul Understands That We Don’t Want An Audit of The Fed

Question: IRS , is this true?

as long as you don’t file, you haven’t broken any laws. once you file, you enter into an agreement to pay. the US supreme court ruled in 1991 that our labor was our personal property and we exchange it equally in exchange for pay. the 16th amendment recquires only those who “profit or gains” to be taxed. the vast majority of americans aren’t recquire to pay income taxes. they outlawed slavery in 1864.

this is why the irs threaten so hard and then simply settle out of court. THEY DON’T WANT IT TO GO TO COURT because they will lose in court. the supreme court has already set precedence.

Answer: It’s total BS.

There is no such ruling from the Supreme Court, in 1991 or any other year. That claim has been raised countless times but has been shot down EVERY time. In fact, it’s been raised so many times that merely attempting to raise it can attract an additional fine of up to $25,000 for raising a spurious defense, i.e. wasting the court’s time.

The IRS will gladly take you to court over your unpaid taxes. They’re batting 1000 on this — they win EVERY civil case over the legality of Title 26. A few Tax Kooks have dodged the bullet on criminal sanctions but the ALWAYS wind up paying in the end.

IRS, States Crack Down On Contractor Abuse

The Internal Revenue Service and 37 states are cracking down on companies that try to trim payroll costs by illegally classifying workers as independent contractors.

Tax Law Attorney Rob Wood “IRS Speaks Out on Employment Lawsuit Settlements”